The Asia Pacific Telecom Service Assurance Market would witness market growth of 10.5% CAGR during the forecast period (2022-2028).
Due to intense competition in the market and decreasing switching costs, a lot of telecommunication companies are seeing an increase in churn. In the telecom industry, customer loyalty is eroding as service providers compete to deliver effective services at cheaper costs. Telecommunication businesses are putting their money into service assurance solutions as a result of this pattern. These solutions assist telecommunications firms in delivering high-quality service, improving customer experience, reducing network complexity, and reducing customer attrition. The churn rate of a telecom service is the percentage of subscribers that have cancelled their subscription. Telecommunication firms can considerably better services (voice/data, video, and others) given to subscribers by installing telecom service assurance tools or solutions, which can result in a lower churn rate.
Asian telecom service providers, government agencies, and vendors are all vying to be first to market with 5G research and deployment. Several Asian countries have begun to construct smart city initiatives or are in the planning stages. In APAC, China is the most important market for smart city development. The most important use case in APAC was delivering new video services via improved bandwidth. Connected automobiles and IIoT are key drivers in South Korea and Japan, while connected healthcare is the most significant driver in India, Vietnam, and Australia.
Due to increased investments in high-speed internet infrastructure to satisfy 5G standards, countries such as India, China, and Japan are rapidly progressing. According to a 2019 GSMA research, Asia Pacific is predicted to have millions of additional mobile customers by 2025, accounting for over half of all mobile subscribers worldwide. These factors have accelerated the expansion of the telecom service assurance market.
The China market dominated the Asia Pacific Telecom Service Assurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,113.6 million by 2028. The Japan market is anticipated to grow at a CAGR of 9.8% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 11.2% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Fault & Event Management, Performance Management, Quality & Service Management, and Intelligent Assurance & Analytics. Based on Operator Type, the market is segmented into Fixed Operator and Mobile Operator. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Telecom Service Assurance Market is Projected to reach USD 12.5 Billion by 2028, at a CAGR of 9.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Nokia Corporation, Hewlett-Packard Enterprise Company, IBM Corporation, NEC Corporation, Ericsson AB, Amdocs Limited, Comarch S.A., Accenture PLC, and Broadcom, Inc.
By Component
By Operator Type
By Deployment Type
By Organization size
By Country
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