The telecom service assurance market has seen rapid growth, rising from $8.25 billion in 2023 to $9.12 billion in 2024, with a CAGR of 10.6%. This growth is driven by telecom network complexity, rising customer expectations, market competition, and proactive issue resolution needs. The market is projected to reach $14.25 billion by 2028, reflecting a CAGR of 11.8%. Growth drivers include expanding data traffic, customer experience emphasis, and cybersecurity concerns. Major trends include security and compliance assurance, network slicing assurance, and real-time analytics and reporting.
Major Driver In The Telecom Service Assurance Market
The telecom service assurance market is poised for growth, primarily propelled by the advent of 5G technology. As the latest iteration of cellular technology, 5G significantly enhances the speed and responsiveness of wireless networks, leading to a digital lifestyle shift. In 2022, the United States had the highest number of 5G users at 49.2%, as reported by Speed Test. This widespread adoption of 5G technology contributes to the growth of the telecom service assurance market, influencing its trajectory in 2023, 2024, and 2028.
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Telecom Service Assurance Market Competitive Landscape
Huawei Technologies Co Ltd., Hewlett-Packard Company, Accenture plc, IBM Corporation, Cisco Systems Inc., Broadcom Inc., Tata Consultancy Services Limited, Ericsson Inc., Nokia Corporation, NEC Corporation, ZTE Corporation, CommScope Holding Co Inc., Keysight Technologies Inc., CENX Inc., VIAVI Solutions Inc., NetScout Systems Inc., Spirent Communications plc, Comarch S.A., Mycom Osi Solutions India Private Limited, The Employee Owned Company, EXFO Inc., Enghouse Systems Limited, Infovista S.A.S., SevOne Inc., Empirix Inc., Guavus Inc., Radcom Ltd., Accanto Systems Ltd., Zenoss Inc., Bwtech International Ltd., Aria Networks Ltd., Avvasi Inc., Intracom Telecom S.A., Netrounds AB
Key Telecom Service Assurance Market Trend
The adoption of IoT-driven communication devices is a key trend gaining popularity in the telecom service assurance market. The Internet of Things (IoT) refers to physical items that are equipped with sensors, computing power, software, and other technologies and may communicate with other devices and systems over the Internet or other communication networks. For instance, In January 2022, Mavenir, a network software company, launched service distribution to foreign medical facilities through 5G slices. It will include virtual reality (VR) and artificial reality (AR), as well as the usage of virtual intelligent counselling agents (VICA) in applications such as remote patient care and surgery. In surgeries and remote patient care, a robust 5G network with low latency and great performance is necessary to carry out all of the following use cases and duties
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Telecom Service Assurance Market Segmentation
The telecom service assurance market covered in this report is segmented –
1) By Component: Solution, Services
2) By Operator type: Mobile Operator, Fixed Operator
3) By System: Probe System, Network Management, Workforce Management, Fault Management, Quality Monitoring
4) By Deployment Type: On-Premises, Hosted, Cloud
By Geography:The regions covered in the telecom service assurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the telecom service assurance market in 2023.
The Telecom Service Assurance Global Market Report 2024 furnishes information about the global telecom service assurance market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
