TELECOM SERVICE ASSURANCE MARKET

 

Market Overview:

                The market for telecom service assurance worldwide was worth $8.02 billion in 2020 and is projected to reach $9.83 billion in 2026, growing at a CAGR of 3.4% during the forecast period (2021 - 2026). According to GMSA, there is a substantial development opportunity with the addition of 1.75 billion new mobile internet members per year, who will total 5 billion by 2025. By 2025, there will be 5.9 billion unique mobile subscribers, or roughly 71% of the world's population. As the number of subscribers rises, service providers will need to address important issues like the demand for niche products, a high customer churn rate, and a faster response rate, which will encourage the growth of the telecom service assurance market.

Key Market Trends:

         The demand from customers for bandwidth-intensive applications and high-quality network experiences is outpacing the ability of telecom service providers to keep up.
To address the aforementioned issues, it is also necessary to manage multi-vendor settings with technology and operational silos that could result in inefficiencies and have a detrimental influence on customer experience and brand value. To integrate with current systems and deliver quick feedback for the data, the telecom service providers are working in partnership with telecom service assurance providers.
The proliferation of IoT-driven communication devices expands the market's potential for telecom service assurance, making IoT a potent market-driver. In 2017, there were 7.5 billion IoT connections, and by 2025, there will be 25.2 billion linked devices, according to the GSMA.

For telecom service providers, operations are becoming more difficult due to wide geographic variances and a sizable customer base that is expanding quickly. Due to these difficulties, telecom service providers now spend money on telecom service assurance.
Mobile and internet penetration will rise as a result of rising consumer purchasing parity in developing nations like India, Bangladesh, and other nations in Southeast Asia. Mobile use in APAC will rise from 67% in 2017 to 73% in 2025. According to GSMA, mobile internet penetration is anticipated to increase from 41% in 2017 to 64% in 2025. The growth in the area will be fueled by the above mentioned factors.

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