The “Global B2B Telecommunication Market, by Solution (Unified Communication and Collaboration, VoIP, WAN , Cloud Services, and M2M Communication), by End-user (Small & Medium Enterprise and Large Enterprise), by Vertical (BFSI, Healthcare, Media and Entertainment, Government, Energy and Utility, Retail, Transportation and Logistics, and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 123,086.9 million by 2027, witnessing a CAGR of 14.0 % during the forecast period (2019-2027), as highlighted in a report published by . Market Definition Business to business or B2B telecommunication is communication between two companies or enterprises or businesses via text, audio, video, voice, or data. B2B telecommunication maintains a system that transmits data, voice, video, text, etc. allowing direction communication between businesses. B2B telecommunication platforms provides a holistic perspective for financial narratives, stats, data, cases, and orders, in order to augment the company’s presence in the industry. Moreover, it offers broader view for complex hierarchies, in order to represent the company’ organizational structure and offer real-time control over service usage. The global B2B telecommunication market is estimated to account for US$ 37,668.7 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecasted period (2019-2027) Market Driver Growing penetration of high-speed internet and availability of smartphones is expected to drive growth of the global B2B telecommunication market during the forecast period Advent of high-speed internet coupled with growing number of smartphone users is the major factor driving the market growth. For instance, according to Internet World Stats, in 2019, there were over 4 billion internet users and t around the world. Moreover, growing use of smartphones and IoT applications is expected drive the market growth in the near future. Market Opportunities Advent M2M technology and IoT applications is expected to pose significant growth opportunities for market players Internet of things has gained significant traction in the recent past, owing increasing number of connected services. Numerous telecommunication companies are providing IoT-based services to enterprises, as they are cost-efficient and enhance the business applications. Moreover, introduction of M2M analytics and improved connectivity are expected to offer excellent growth opportunities for market players in the near future. Market Restraints Strict regulatory polices imposed by various government are expected to restrain growth of the global B2B telecommunication market over the forecast period B2B telecommunication providers need to comply various stringent regulations such as spectrum release and auction frameworks for retention, data privacy, tax, and accounting sales. However, telecommunication providers are unable to offer various advanced services due to these regulations, which in turn, is expected to restrain the market growth over the forecast period. For instance in 2015, the U.S. Government passed a rule under ‘Net Neutrality’ to classify broadband internet access as utility, thereby restricting broadband providers different services or charge different fees from users. Key Takeaways
North America region dominated the global B2B telecommunication market in 2018, accounting for 29.3% share in terms of value, followed by Europe and Asia Pacific, respectively. This is owing to key players in North America are constantly working on developing new services for customers. In order to facility new services and product offerings, key players are involved in acquisition strategy. For instance in 2015, Verizon Communications acquired AOL, Inc. an internet service provider, in order to expand its product offerings including advertising, high-speed broadband, and TV programing.
Key companies in the regional market are focused on partnership agreement, in order to various IT services including LAN, call centers, data centers, and WAN. For instance in 2015, AT&T, a U.S.-based telecommunication company, entered into an agreement with Lusacell & Nextel, a Mexico-based telecommunication company, in order to offer faster and better service.
Various organizations in the region are adopting advanced technologies such as cloud computing and mobility for application in various sectors such as healthcare for providing medical report, telecommunication service for video conferencing among doctors, and patient information. This, in turn, is expected to drive the regional market growth in the near future. For instance, in 2013, Telstra, an Australia-based telecommunication company entered into partnership with Seven West Media, in order to develop health platform called HealthEngine that offers directory of healthcare practitioners and booking system. Market Trends
Various banking and financial institutions are adopting advance technologies such as IoT, cloud computing, and analytics, in order to enhance their financial service to customers. For instance, Telecos offers B2B telecommunication solutions with incorporation of IT services, in order to provide real-time banking and other financial services.
Various companies in the industry are adopting IT services including cloud computing, in order to improve their working and businesses. This, in turn, has encouraged several IT service providers to offer novel IT solutions that would be offered as managed service for various enterprises. Competitive Section Key companies operating in the global B2B telecommunication market are Telstra Corporation Limited, Verizon Communications, Inc., Telefonica, S.A., Deutsche Telekom AG, Sprint Corporation (SoftBank Group Corporation), AT&T Inc., Vodafone Group PLC, NTT Communications Corporation, and Orange S.A. Key Developments