By 2022 Policy Management in Telecom Market will surpass $1617.1 Million from $953.6 Million in 2017
October 4, 2019 by siddharth mnm
According to new market research report "Policy Management in Telecom Market by Network (Fixed, Wireless), Component (Solutions, Services), Services (Professional, Managed), Deployment (Cloud, On-Premises), and Region - Global Forecast to 2022", the policy management in telecom market is estimated to grow from USD 953.6 Million in 2017 to USD 1,617.1 Million by 2022, at a CAGR of 11.1% from 2017 to 2022.
The market is primarily driven by the increasing adoption of tailored policy management solutions by telecom operators across the globe. Moreover, the rise in the demand for innovation in the telecom industry is also contributing to the growth of the policy management in telecom market.
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Based on component, the policy management in telecom market has been segmented into solutions and services. The solutions segment is expected to grow at a high rate between 2017 and 2022. This can be attributed to the rise in strict telecom regulations, the continued growth of the subscribers, overcoming data traffic limits, and setting marketing oriented policy and charging rules.
Based on deployment, the cloud segment is estimated to grow at the highest CAGR during the forecast period
Based on deployment, the cloud segment is estimated to grow at the highest CAGR for the policy management in telecom market. Due to scalability and low hardware, setup, and maintenance cost, the cloud-based deployment of policy management solution are adopted significantly by various organizations. This factor is driving the growth of cloud in policy management in telecom market.
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Asia Pacific region is estimated to grow at the highest CAGR during the forecast period
The policy management in telecom market in Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing use of mobile devices in this region. The rise in digitalization and smartphone users will make the Communication Service Providers (CSPs) deploy policy management solution. Countries such as India, China, Russia, Australia, and Japan are expected to witness high growth rates in policy management in telecom market.
Major players in policy management in telecom market Ericsson (Sweden), Huawei (China), Nokia (Finland), Oracle (US), Amdocs (US), Netcracker Technology (UK), CSG International (US), ZTE (China), Cisco (US), Redknee (Canada), and Openet (Ireland).
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