B2B Telecommunication Market Expected to Reach $181.35 Billion by 2030

According to a recent report published by Allied Market Research, titled, “B2B Telecommunication Market by Enterprise Size, Solution and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global B2B telecommunication market size was valued at $46.36 billion in 2020, and is projected to reach $181.35 billion by 2030, growing at a CAGR of 14.8 % from 2021 to 2030. 

B2B telecommunication systems allow distant communication by using electrical signals or electromagnetic waves and some basic components to support the system. It consists of different components of a telecommunication system, including a transmitter that takes information and converts it to a signal, a transmission medium that carries the signal, and a receiver that receives the signal and converts it back into usable information.

Furthermore, growing and increasing adoption of IoT and rise in demand for B2B telecommunication among corporate and government organizations boost growth of the global B2B telecommunication market. In addition, increasing industrialization and urbanization in several countries positively impacts growth of the market. However, high implementation cost of B2B telecommunication and privacy & security concern is hampering the B2B telecommunication market. On the contrary, integration of advanced technology such as artificial intelligence and cloud-based technology are expected to offer remunerative opportunities for expansion of the market during the forecast period.

Depending on enterprise size, the large enterprise segment dominated the market share in 2020, and is expected to continue this trend in the upcoming years, as it helps in auto attendant and call transferring, VoIP allows one-person operation to project the image of a larger company. However, SMEs is expected to witness significant growth during the forecast period, owing to wide presence of small and medium-scale organizations and rise in need of enhance telecommunication systems among the SMEs to increase their business reach which is expected to provide lucrative opportunity for the market.

Region wise, the B2B telecommunication market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to increase in adoption of IoT and cloud-based products. In addition, with presence of huge competition among market players, which leads to better offering is the reason for capturing the maximum market in the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in internet connectivity and rise in number of smartphone users in this region. In addition, surge in use of cloud-delivered video services among users in countries such as the China, India and Japan drives the growth of the market. Furthermore, many start-ups and key players of the B2B telecommunication software market are investing heavily to surge their revenue opportunity and to increase their customer base in different countries of Asia-Pacific, which propels growth of the B2B telecommunication market.

With the ongoing unprecedented global health crisis, consequences are being witnessed in all industrial sectors and economies globally. Presently, the ongoing shift to remote work drive demand for networking infrastructure and connectivity. However, the demand could also strain the system and lead to public perception issues if reality does not meet expectations. Increasing cases of industry event cancellations means fewer business development opportunities via sponsorships and networking. Thus, cancelled domestic and global business travel results in a sharp increase in B2B communications.

In addition, many companies are adapting to their working and operating owing to solution like Microsoft Teams and other video conferencing and collaboration tools. Furthermore, companies have quickly updated and enhanced their offerings to meet today’s business needs. Showcasing fast innovation during this time should be a priority for those that can do so, and are promoting their role in supporting customers and end-users during lockdown.

Key Findings of The Study

• By enterprise size, the large enterprise segment accounted for the largest B2B telecommunication market share in 2020.
• Region wise, North America generated highest revenue in 2020.
• Depending on solution, the cloud services segment generated the highest revenue in 2020.

The key players profiled in the B2B telecommunication market analysis are Amdocs, AT& T, Inc., Cisco Systems, Inc., Comarch S.A., Deutsche Telekom AG, NTT Communication, Orange S.A., Telefonica, S.A., Vodafone Group PLC, and Verizon. These players have adopted various strategies to increase their market penetration and strengthen their position in the B2B telecommunication industry.