Telecom policy management solutions are used by multinational companies in curbing costs of telecommunication providers and contain measures and rules for regulating the use of equipment and devices. Optimization of data and wireless phones will be pivotal in curbing purchases of phones and their uses. The global policy management in telecom market report by Market Research Future (MRFR) comprises the latest trend and opportunities to affect the industry for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its effect on the services during the aforementioned period are explained in detail.
The policy management in telecom market is expected to grow at approximately USD 1,606.95 million by 2023 at 11% CAGR over the forecast period.
Rise of wireless data services is a prime opportunity for the market to extend its wings owing to the sales of smartphones and other smart devices. Telecommunication policies for wireless data usage can lower expenditure costs and push profit margins greatly. Awareness of telecom policies and prevention of misuse and fraud can bode well for the market. Setting of standards within companies and approval of mobile device asset services can set a benchmark for the market to capitalize during the forecast period.
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The policy management in telecom market is segmented on the basis of components, deployment, and organization size and network type. The component segment includes software and service. The service segment includes managed service and professional service. Managed services can be defined as active supervision of an information technology asset or object, by a third party known as a MSP, on behalf of the end-user. The operative distinction separating MSP from professional services is the proactive delivery of their service as compared to reactive IT services. The key drivers contributing to the growth of the managed services are the rise in digital information, security accorded to servers, increasing trend of bring your own devices (BYOD), flexibility to match custom requirements, continuous upsurge in dependency over heterogeneous networks, and persistent rise in technological solutions.
The segmentation on the basis of deployment includes cloud and on-premise. The cloud solution accounted for the highest market share owing to its help in enterprises minimizing costs associated with hardware infrastructure. It allows companies to focus on core services while providing them with data protection and security services. Efficient management of storage, data integrity and protection, and alleviating concerns of privacy issues can bolster the segment growth in the global policy management in telecommunication market.
The regional analysis of policy management in telecom market is being studied for regions such as Asia Pacific (APAC), Americas, Europe, and Rest-of-the-World (RoW). North America region accounts for highest market share in policy management in telecom market owing to presence of major players in the region. The region consists of major telecom solution providers, advance network infrastructure and adoption of high advanced technologies are significant factors boosting the market in the region. Countries such as US and Canada contributes large amount of revenue in the policy management in telecom market in the region. Asia‐Pacific region is expected to be growing at the highest CAGR in the policy management in telecom market. Owing to the increasing subscribers and growing data traffic in the region, growing smartphone users and rise in digitization is one of the significant factors boosting market in the region.
Genpact, LM Ericsson Telephone Company, Oracle Corporation, Comarch Sa., Amdocs Limited, Intracom Telecom, Huawei Investment & Holding Co., Ltd., Nokia Corporation, Wipro Limited, and Astea International Inc. are key players of the global policy management in telecom market.
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