Telecom Service Assurance Market size is set to cross USD 10 billion by 2028, according to a new research report by Global Market Insights Inc.
Rising investments in 5G technology across the globe is likely to drive the telecom service assurance industry growth. Telecom service providers are increasingly focusing on the transformation of network infrastructure, which has increased the deployment of 5G networks. Moreover, supportive government initiatives for the deployment of 5G networks are providing a significant growth opportunity.
The major telecom service assurance companies are focusing on developing advanced and integrated telecom service assurance solutions. For instance, in April 2021, MYCOM OSI launched Assurance Cloud Service (ACS) on Microsoft Azure. It is a pre-integrated service assurance system that is compatible with a communication service provider’s virtualized connectivity network.
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Growing adoption of advanced analytics across the telecom industry
The telecom service assurance market is expected to grow at over 10% CAGR through 2028 due to increasing network complexities and the rising need to manage large volumes of data. A service assurance analytical tool uses AI and ML algorithms that provide deep actionable insights about service performance and behavior. It also helps communication service providers to achieve a high level of operational efficiency. It offers several benefits such as forecasting network behavior, discovering hidden network issues, reducing the number of alarm thresholds, and others.
Browse key industry insights spread across 250 pages with 294 market data tables and 37 figures & charts from the report, “Telecom Service Assurance Market Size by Component (Solution [Fault Management, Performance Management, Service Monitoring, Service Assurance Analytics], Services [Professional Services and Managed Services]), Operator Type (Fixed, Mobile), Deployment Model (On-premises, Cloud), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Rising demand for faster internet
The fixed operator type segment held 60% of the market share in 2021 due to the increasing demand for data centers across the telecom sector. A fixed network is a wired network that is used for voice and data communication. The fixed network covers various technologies such as fiber optics, copper, HFC, IP/MPLS, and DWDM. Additionally, the increasing demand for data transmission is fueling market demand.
The growing adoption of fiber-based fixed broadband service is another factor supporting telecom service assurance market demand. The proliferation of high-quality digital services, such as video-on-demand, is also enhancing the business expansion.
Increasing telecom infrastructure across the globe
The on-premises segment captured more than 70% of the revenue share in 2021 on account of growing digitalization across the telecom sector. Many telecom service providers prefer on-premise service assurance solutions by their large business environment and advanced network infrastructure. On-premise solutions are majorly adopted by large enterprises owing to their heavy cost and maintenance services. However, the on-premise model helps CSPs to improve their service quality and customer satisfaction through optimal network management.
Rising internet and mobile penetration rates across Asia Pacific
Asia Pacific telecom service assurance market size is poised to generate USD 2 billion revenue by 2028 led by the increasing BYOD trend. The growing telecom sector in major countries, such as China, India, and Japan, is another factor boosting the market demand.
Asia Pacific is a highly lucrative market for the adoption of 5G and IoT technologies impelled by numerous government initiatives for large-scale digitalization of urban infrastructure in countries including China, South Korea, and India. For instance, according to the report published by Ericsson Mobility, in India, 5G mobile subscriptions are estimated to reach about 500 million by 2027.
Leading players are focusing on developing advanced telecom service assurance solutions to gain a competitive advantage
Companies are developing and designing advanced solutions to meet customer demands. For instance, in September 2021, Anritsu deployed its mobile network service assurance solution on the public cloud with AWS. This deployment offered improved service quality, flexibility, scalability, and cost-efficiency to operators.
Some of the telecom service assurance market players include Accenture PLC Anritsu, Amdocs, Broadcom Inc, Cisco Systems, Inc., Comarch S.A., Commscope, Enghouse Networks, Ericsson, EXFO, Hewlett Packard Enterprise Development (HPE), Huawei Technologies, IBM Corporation, Infovista, Intracom Telecom, Mycom osi, NEC Corp., Netscout System Inc., Nokia Corp., Oracle Corp., Spirent Communications, TEOCO Corp., Viavi Solutions, and VMware Inc.