Market Highlights:
The global B2B telecommunication market is proliferating mainly due to the penetration of cost-efficient IoT technology that offers benefits such as wireless transactions, and machine to machine (M2M) communication to users. The adoption of B2B telecommunication service by enterprises has impacted the market, a great deal.
Businesses are benefitting by implementing these services, and their travel expenses are reduced due to the advantage of face-to-face meetings via teleconference service offered by B2B Telecommunication Market. They get connected to potential clients through B2B telecommunication and social media platforms rather than attending industry summits and conferences in person. Such key advantages of B2B telecommunication are escalating the market on the global platform.
Acknowledging the colossal traction, the market is garnering currently; Market Research Future (MRFR) in its recently published study report asserts that the global B2B telecommunication market is poised to be valued at USD 72 MN by 2023, registering around 14% CAGR throughout the forecast period (2017 – 2023).
Additional factors that are substantiating the market growth include the higher adoption of IoT and favorable government regulations regarding telecommunications. The boosting M2M communication technology is providing a considerable impetus to the growth of the B2B Telecommunication market.
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Major Players:
Key players leading the global B2B telecommunication market are Deutsche Telekom AG (Germany), Comarc SA (Poland), NTT Communications (Japan), Verizon Communications Inc. (the US), Vodafone Group PLC (the UK), AT&T Inc. (the US), Orange SA (France), Cisco Systems, Inc. (the US), Telstra Corporation Limited (Australia), and Amdocs Ltd. (Israel) among others.
B2B Telecommunication Market – Segmentation
For a better scope of understanding, the analysis has been segmented into five key dynamics: –
By Solution: Unified Communication & Collaboration WAN Solution, M2M Communication, Cloud Services, and VoIP (Voice over Internet Protocol) among others.
By Deployment: Fixed, Mobile
By Organization Size: Small & Medium Enterprises and Large Enterprises.
By Application: Industrial and Commercial.
By Region: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global B2B Telecommunication Market – Regional Analysis
North America, heading with the faster adoption of cloud and VoIP services accounts for the largest region in the global B2B telecommunication market. The growing adoption of advanced technologies and the early adoption of ubiquitous technologies such as IoT and artificial intelligence (AI), and the presence of big players drive the B2B telecommunication market in North America.
The US, backed by the rapid industrialization and high demand for optimum communication networks to maintain the outsourced processes, leads the B2B Telecommunication market in the region.
The Asia Pacific B2B Telecommunication market accounts for the second largest market, globally. The adoption of advanced telecom services in the rapidly developing nations such as China, India, and South Korea drive the regional market.
Moreover, factors such as the development in the media and entertainment industry and increasing adoption of new technology drive the B2B Telecommunication market in the region. Japan, China, South Korea, and India are expected to dominate the B2B Telecommunication market in the APAC. Furthermore, the presence of IT & telecommunication industries is key factor driving the B2B Telecommunication market in the region.
Global B2B Telecommunication Market – Competitive Landscape
Highly competitive by nature, the global B2B telecommunication market appears to be fragmented due to the presence of several key players. These players strive to deliver comprehensive solutions with adept technology and features. Growth in terms of technologies and product innovations are also expected to create substantial investment opportunities for global players in the market.
Most enterprises are expanding their technological capabilities to adopt different IoT solutions and better M2M operations. These companies have adopted inorganic strategies to grow their businesses, where partnership and collaboration accounted for a good percentage, whereas merger & acquisition accounted for the healthy percentage of the overall key development for the key players in the market.
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Industry/ Innovation/Related News
May 27, 2019 —- Telefónica Business Solutions (Spain), a leading provider of a range of integrated communication solutions for the B2B market (SME, Large Enterprise, MNCs, and Wholesale) and Schindler Group (Switzerland), a leading global provider of escalators, elevators, and related services announced a global partnership to provide digital connectivity.
As per the agreement, Telefónica will be the IoT and network connectivity partner for Schindler’s digital offering for smart elevators and escalators.
Telefónica shares Schindler’s vision of the incredible possibilities of IoT and how it can improve mobility in an increasingly urbanized world. The partnership reinforces Schindler’s commitment to deliver high quality and innovative digital solutions to customers.
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