Telecom Service Assurance Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Telecom Service Assurance Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, November 3, 2023 /EINPresswire.com/ -- The glGlobal Telecom Service Assurance Market Driven by 5G Technology and IoT Adoptionobal telecom service assurance market, currently valued at $7.67 billion in 2022, is projected to reach $8.59 billion in 2023, exhibiting a compound annual growth rate (CAGR) of 12.1%. Despite the disruptive impact of the Russia-Ukraine war on global economic recovery from the COVID-19 pandemic, leading to economic sanctions, commodity price surges, and supply chain disruptions, the telecom service assurance market is expected to witness continued expansion, reaching $13.22 billion by 2027, with a steady CAGR of 11.4%.

Market Segmentation and Key Players

• Component: Solution, Services
• Operator Type: Mobile Operator, Fixed Operator
• System: Probe System, Network Management, Workforce Management, Fault Management, Quality Monitoring
• Deployment Type: On-Premises, Hosted, Cloud

Key players within the telecom service assurance market, including Broadcom, Cisco Systems Inc., and Huawei, are at the forefront of driving market growth, focusing on advancing solutions and services to meet evolving industry demands.

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Impact of 5G Technology on Market Growth

The telecom service assurance market is anticipated to experience significant growth, driven by the widespread adoption of 5G technology. 5G represents the latest generation of cellular technology, characterized by substantial enhancements in the speed and responsiveness of wireless networks. Notably, this technology facilitates a transition toward digital lifestyles, as indicated by the significant 5G user populations observed in countries such as the United States, the Netherlands, South Korea, Kuwait, and Qatar, according to data from Speed Test, a US-based web testing and network diagnostics company.

IoT Adoption Propelling Market Expansion

The adoption of IoT-driven communication devices stands out as a key trend propelling the growth of the telecom service assurance market. With IoT referring to the integration of physical items equipped with sensors, computing power, software, and other technologies for communication across the internet or other communication networks, companies like Mavenir and Ericsson have spearheaded significant initiatives to leverage 5G technology for IoT-based communication applications. Notably, Mavenir launched service distribution to foreign medical facilities through 5G slices, incorporating virtual reality (VR) and artificial reality (AR), and deploying virtual intelligent counseling agents (VICA) for applications like remote patient care and surgery.

Regional Analysis and Market Outlook

North America currently stands as the largest region in the telecom service assurance market, with the Asia-Pacific region expected to witness substantial growth during the forecast period, establishing itself as the fastest-growing region. The comprehensive market analysis encompasses a thorough evaluation of market dynamics across key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for comprehensive insights into the global telecom service assurance market:
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Telecom Service Assurance Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Telecom Service Assurance Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on telecom service assurance market size, telecom service assurance market drivers and trends, telecom service assurance market major players, competitors' revenues, market positioning, and telecom service assurance market growth across geographies. The telecom service assurance market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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