B2B TELECOMMUNICATION MARKET ANALYSIS

B2B Telecommunication MarketSize and Trends

The global B2B telecommunication market was valued at US$ 37,668.7 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecasted period (2019-2027).

Source: Coherent Market Insights

Market Trends

1. Growing adoption of unified solutions is one of the major trends in the market

Business owners in various industries are facing major challenges related to stand-alone communication. This, in turn, has led to adoption of unified communication services. This includes fixed-mobile convergence and video conferencing that are extensively adopted by market players. Such services are offered by telecommunication companies, in order to reduce operational complexities. For instance, Telefonica S.A., a Spain-based telecommunication service provider implemented Telepresence, a solution offered for unified communication services for BBVA, in order to reduce travelling cost for its employees between Mexico and Spain by providing internet-based telecommunications.

2. Small- and medium-sized enterprises are increasing adopting B2B telecommunication services

Growing adoption of B2B telecommunication services by small- and medium-sized enterprises, owing to availability of internet-based services and cloud-based technology is expected to be a major trend in the market. These technologies are cost-efficient and can support daily operations and also enhance business applications. For instance, in 2016, Tata Teleservices limited, an Indian telecommunication provider, gained around 30% overall revenue by offering B2B services including cloud-based conferencing, social media integration, and other SMEs.