Factors such as the surge in need for strong network connectivity and the rapid adoption of advanced technologies by enterprises will help the telecom consulting market advance at a robust CAGR of 11.8% during 2021–2030. According to P&S Intelligence, the industry was valued at $5,307.2 million in 2021, and it will generate $14,519.6 million revenue by 2030. In recent years, the rapid digital transformation of business entities has become a major market trend, as digitization has transformed the way enterprises interact with customers and carry out their internal processes.
The rising need for strong network connectivity is one of the key growth drivers of the market, as improved connectivity is vital to the smooth functioning of large enterprises. The prominent role of strong network connectivity can be credited to the effective communication offered by it. Additionally, stable connectivity helps business organizations access enterprises data from anywhere with robust security standards. To achieve these objectives, businesses are increasingly opting for telecom consulting services and solutions.
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| Telecom Consulting Market Report by P&s Intelligence |
Currently, the telecom consulting industry is consolidated, due to the presence of several key players, such as Bain & Company Inc., Accenture PLC, Boston Consulting Group Inc., Tata Consultancy Services Limited, Wipro Limited, KPMG International Limited, Deloitte Touche Tohmatsu Limited, and IBM Corporation. Nowadays, these companies are involved in partnerships and collaborations to consolidate their position. For instance, in October 2021, Stellants, TIM, and Accenture PLC agreed to implement a private 5G network pilot project at a manufacturing plant of Stellants in the Automotive Centre of Goiana, in northeastern Brazil.
Globally, the North American telecom consulting market is expected to generate the highest revenue throughout this decade. This will be due to the presence of prominent market players, rapid deployment of mobile networks, rise in need for high bandwidths, and surge in adoption of cloud services in the region. However, the APAC market is expected to exhibit the fastest growth in the coming years, owing to the mounting investments being made by businesses in data security and cloud-enabled solutions.
Thus, the surging requirement for strong network connectivity and the increasing deployment of new-generation technologies will supplement the market growth.
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