Telecom Consulting Market Set to Double Revenue by 2030

NEW YORK - Dec. 4, 2024 - PRLog -- Telecom Consulting Market Overview
The global telecom consulting market is projected to reach USD 7,291 million in revenue by 2024, with a CAGR of 12.2%, ultimately attaining USD 14,519.6 million by 2030. This growth is driven by the rising demand for robust network connectivity and the widespread adoption of advanced technologies among businesses.

Key factors include increasing infrastructure investments and the rapid expansion of next-generation networks. Telecom consulting supports businesses by optimizing costs, saving time, and providing customized solutions. It addresses challenges such as overspending on telecom services and the complexity of managing multiple providers with evolving plans.

As digital transformation accelerates, the demand for telecom consulting is surging, with industries like banking, retail, and healthcare increasingly adopting digital solutions, such as online payments, social media integration, and data sharing. These trends drive the need for enhanced network infrastructure and services.

Large enterprises rely on robust connectivity to enable seamless communication and secure data access. The integration of advanced technologies like AI, IoT, and machine learning is propelling the need for cloud transformation services, a critical component of telecom consulting.

A significant innovation shaping the industry is the rise of Open Radio Access Network (OpenRAN) architecture, which allows telecom operators to deploy 4G and 5G networks using vendor-neutral software and hardware. This approach, gaining traction since 2021, fosters greater flexibility and competition within the sector.

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Key Insights

• Wireless Networks Dominate: Wireless networks are anticipated to account for 75% of the telecom consulting market in 2024, with the segment growing rapidly due to its adaptability.
• Planning and Consulting in Focus: This category is expected to witness a CAGR of 13% as consultants leverage expertise to analyze systems and recommend cost-saving measures.
• Cloud Services Lead: The rising need for scalable and agile software underpins the dominance of cloud services in the telecom consulting sector.
• Unified Communications Surge: These solutions are growing in popularity, allowing employees to manage communication across devices efficiently.
• Regional Insights: North America is poised to lead the market with a 40% revenue share in 2024, driven by demand for high bandwidth, mobile networks, and cloud services. Meanwhile, Asia-Pacific (APAC) is the fastest-growing region due to heightened demand in India and China and increased investments in data security and cloud solutions.

Recent industry developments include strategic partnerships, such as Cognizant teaming with Telstra and T-Mobile acquiring Ka'ena Corporation, further signaling the sector's dynamism.