NEW YORK, January 27, 2022 /PRNewswire/ — Based on an estimate $5,307.2 million in 2021, the telecom consulting market value is ready to reach $14,519.6 million by 2030, growing at a CAGR of 11.8% between 2021 and 2030. Major players in the industry are Bain & Company Inc., LEK Consulting LLC, Telefonaktiebolaget LM Ericsson, Boston Consulting Group Inc., Capgemini Services SAS, McKinsey & Company, Wipro Limited, CGI Inc., Accenture PLC, Tata Consultancy Services Limited, Atos SE, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, KPMG International Limited and Ernst & Young Global Limited.
In addition to simple planning and consulting, these companies offer systems integration, operations and maintenance services to telecommunications operators around the world. Of these, the demand is highest for planning and consulting, due to the changing network demands of people, forcing telecom operators to adapt their own systems. So, they hire consultants to offer expert advice, analyze their existing systems, and help them improve their network coverage with maximum savings.
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Key Findings of the Telecom Consulting Market Report
- The adoption of artificial intelligence, online news, television and games; digital personal assistants, connected and autonomous vehicles, digital baking and shopping and other virtual solutions are pushing telecom operators to improve their network connectivity, which is why they hire consultants.
- In this regard, the rapid deployment of 5G is the main growth driver for the telecom consulting market. Telcos will need to quickly and cost-effectively upgrade their existing infrastructure, add new towers, and adopt artificial intelligence to predict traffic spikes, forecast end-user distribution, and improve network capacity.
- This is also why most telecommunications companies use consulting services as the first step in installing new wireless networks and improving existing ones.
- Most requests for telecom consulting services are for cloud services, which have revolutionized the IT industry by allowing businesses and individuals to store their data and access advanced software on third-party servers.
- North America generates a large portion of the telecommunications consulting market revenue as its telecommunications and IT sectors are witnessing rapid technological advancements, especially with the deployment of 5G networks.
- The fastest growing demand for consulting services will be seen among telecom operators in the Asia Pacific (APAC), where an increasing number of people are connecting to the Internet and demanding faster network speeds and low latency.
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As the services offered by market players are highly technical and require immense skills and knowledge for their dispersal, the industry is consolidated, with only established consulting firms operating in it. Players at the top have extensively engaged in collaborations and partnerships, service launches, and mergers and acquisitions to improve their offerings and earn the trust of more customers.
These moves by telecom consulting market players are encouraged by the rapid digital transformation of businesses across industries. This leads to changing business requirements for networks and connectivity. With individuals and entities around the world demanding higher download and data transmission speeds with low latency, telecommunications companies are compelled to work with consultants to improve their services.
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Network Telemetry Market – Geographically, North America dominated the network telemetry market in the recent past, and it will show notable growth in the coming years. This can mainly be attributed to the presence of a large number of network telemetry solutions providing companies, such as Netronome Systems Inc. and Cisco Systems Inc., Arista Networks Inc. and Cisco Systems Inc., in the region.
5G infrastructure market – In previous years, North America dominated the 5G infrastructure market owing to the large investments made by the governments of countries in the region in the development of 5G infrastructure. For example, the Canadian Wireless Telecommunications Association estimates that $26 billion will be devoted to the development of the 5G infrastructure in Canada between 2020 and 2026.
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