B2B Telecommunication Market Size To Expand at a Notable CAGR Of 14.9% During 2024-2032

MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global B2B Telecommunication Market

Global B2B Telecommunication Market is projected to grow at a CAGR of 14.9 % during the forecast period: MRFR

The B2B Telecommunication Market is predicted to reach USD 293.8 billion by 2032, registering a 14.9% CAGR during the forecast period, 2024-2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global B2B Telecommunication market is expected to witness substantial growth during the forecast period, primarily due to the rapid industrialization and urbanization creating a strong need for an effective communication solution to keep company processes running on a global scale.

B2B telecommunication networks are generally used to send information in various forms such as text, sound, voice, and video. Direct connection between firms or enterprises allows them to develop themselves and make information available to clients. Businesses may easily manage their complex hierarchies thanks to B2B telephony technologies. Furthermore, the introduction of 5G technology and the Internet of Things (IoT) is entirely dependent on network connectivity, which necessitates effective resource allocation procedures. This element has aided the expansion of the B2B Telecommunications market.

The growing use of cloud communication, in conjunction with unified communication and cooperation in industries such as media and entertainment, has fueled the rise of the B2B telecoms market. B2B communication allows for direct communication and increased visibility within the designated domain. Because industries generate massive amounts of data every day, which necessitates proper management and visibility, the B2B telecommunications business is predicted to increase steadily over the projection period.

Segmental Analysis

The scope of the global B2B Telecommunication market has been segmented based on Solution, Enterprise Size, and Industry Vertical.

On the basis of solution, the market is categorized into WAN Solution, Voice over IP (VoIP), M2M Communication, Cloud Services, Unified Communication and Collaboration. By solution, the cloud services segment garnered largest market share in 2020, and is expected to maintain its dominance in the upcoming years, owing to the increasing popularity of cloud-based telecommunication services across numerous businesses in Asia-Pacific and Latin American developing countries.

On the basis of enterprise size, the market is classified into large enterprises and SMEs. The SMEs segment accounted for the largest market share in 2021.

Based on Industry Vertical, the global B2B Telecommunication market is segmented into Retail, Media & Entertainment, Energy and Utilities, Healthcare, Transportation and Logistics, Banking, Financial Services and Insurance (BFSI), and Others. The media and entertainment is expected to exhibit the growing CAGR during the projected period.

Regional Analysis

Geographically, the global B2B Telecommunication market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America held the highest share of the B2B Telecommunications market by region in 2021, and it is expected to do so for the rest of the forecast period. This is owing to the presence of big competitors who offer cutting-edge solutions and make considerable investments in technologies, creating profitable opportunities for the market. The market is also expanding as a result of increasing industrialization, the expansion of diverse industry participants, and the increased demand for optimal communication networks to support the region's outsourced operations.

The Asia Pacific (APAC) region's B2B telecommunication market is expected to grow at the fastest rate in the global B2B telecommunication market, owing to an increase in process outsourcing from various western countries in India's emerging economy, an increase in the adoption of advanced telecom solutions in the business sectors of developing countries such as China, India, South Korea, and others, and an increase in the number of B2B telecommunication service providers in this region.

The increased need for a robust communication network in the established business sector, as well as the advent of secure telecommunication services in various industrial sectors, are driving significant growth in the B2B telecommunication market in Europe.

Key Players

Some of the prime market players profiled by MRFR that are operating in the global B2B telecommunication market are Comarch SA. (Poland), Deutsche Telekom AG (Germany), NTT Communications (Japan), and Verizon Communications Inc. (US). Vodafone Group PLC (UK), Orange S.A. (France), AT&T Inc. (US), Cisco Systems, Inc. (US), Amdocs Ltd (US), Telstra Corporation Limited (Australia) and others. The players in the global B2B telecommunication market are undertaking various strategic initiatives such as increased investments for business expansion, carrying out mergers and acquisitions and others in order to sustain the competition in the global B2B telecommunication market.