Cloud-based policy management solutions are highly adopted by telecom operators. It is identified as a primary growth impeller of the global Policy Management in Telecom Market. Through the review period, the global Policy Management in Telecom Market is expected to thrive at 115 CAGR. By 2023, the Policy Management in Telecom Market can value at $1,606.95 Mn.
The surge in operational expense of telecom service operators and providers have led to the rise in demand for policy management solutions by them. This is expected to streamline operational processes across industries and businesses. This can fuel the expansion of the Policy Management in Telecom Market. On the contrary, strict implementation regulations on telecos can restrict the Policy Management in Telecom Market surge.
Some reputed names in the Covid-19 Impact on Policy Management in Telecom Market are; Huawei Investment & Holding Co. Ltd. (China), LM Ericsson Telephone Company (Sweden), Amdocs Limited (U.S.), Nokia Corporation (Finland), Astea International Inc. (U.S.), Oracle Corporation (U.S.), Wipro Limited (India), Comarch Sa. (Poland), Genpact (U.S.), Intracom Telecom (Greece), and others.
The Policy Management in Telecom Market is studied by components, deployment, and organization size, and network type.
The component-based segments of the market are software and service. The service segments are managed service and professional service. Digitization, rise in need for robust secure of information, growing bring your own devices trend, match custom requirements flexibility, surge in heterogeneous networks dependency, and mounting technological complexities are factors that are noted to prompt the adoption of managed services. The growing need for managed services is expected to spur the Policy Management in Telecom Market.
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The deployment-based segments of market are cloud and on-premise. Cloud solution enables enterprises to cut cost related to IT infrastructure. It allows companies to focus on core business competencies and equip organizations with robust data protection and security.
Efficient storage management, resolution of privacy issues, better data integrity, ease of information accessibility concerning handling and coordination of business activities, and improvement in the overall business productivity are advantages offered by cloud-based policy management in telecom solutions. The rise in cognizance about these advantages can support the expansion of the market.
The network type-based segments are wireless and fixed. Fixed networks delivers ultra-fast broadband services. It assists landline broadband internet connection to achieve rapid functioning bandwidths. These can impel the Policy Management in Telecom Market rise.
The size of organization-based segments of Policy Management in Telecom Market are large enterprise and SMEs.
Detailed Regional Analysis
In North America, the Policy Management in Telecom Market can rise owing to the high volume of data generated by enterprises and the need to improve data governance.
North America Policy Management in Telecom Market can be shored up by the penetration of digitization, better infrastructure base, and technical advantages.
Europe Policy Management in Telecom Market can spur in years to come. Asia Pacific Policy Management in Telecom Market is expected to surge at a rapid pace. Investments in research and development undertaking to develop better policy management solution for telecom industry can lay groundwork for the APAC market. The APAC Policy Management in Telecom Market can gain global foothold due the presence of policy management solution driven IT sector and increase in telecom dealers.