Telecom Cloud Market is Expected To Surpass USD 7.07 Billion By 2030 By CIOTechOutlook Team

Telecom Cloud Market is Expected To Surpass USD 7.07 Billion By 2030

CIOTechOutlook Team | Friday, 01 September 2023, 03:29 IST

The size of the worldwide telecom cloud market was estimated at USD 15.18 billion in 2022 and is anticipated to grow to USD 97.07 billion by 2030, at a CAGR of 26.4%. This information is provided in the most recent study from Fortune Business Insights, titled "Global Telecom Cloud Market Forecast, 2023-2030."

Next-generation network architecture is used to construct telecom clouds for telecommunications services. The need for private clouds in the telecommunications sector is being driven by the rising number of mobile users throughout the world, which will further fuel market expansion during the forecast period.

During the projection period, it is predicted that the expanding adoption of 5G technology would accelerate the growth of the telecom cloud market. Next-generation cellular networks made possible by 5G technology have the potential to completely change the communications sector. A cooperation to establish the first 5G inter-network roaming service trial, for instance, was announced in June 2023 by many significant market participants in China, including China Telecom, China Unicom, China Mobile, and Broadnet.

During the projected period, North America is anticipated to account for the biggest market share for telecom clouds. The expansion is linked to the region's expanding 5G usage. Due to the shifting nature of digital data, the U.S. is anticipated to hold the largest share over the projected period. In 2022, the North American cloud telecom market had a value of USD 5.78 billion.

Due to the growing mobile audience in the area, Asia Pacific will have the quickest growth rate throughout the projected period.