Telecom Cloud Market to Surpass USD 97.07 Billion by 2030, exhibiting a CAGR of 26.4%
As per the report by Fortune Business Insights, the global telecom cloud market size is projected to reach USD 97.07 billion in 2030, at a CAGR of 26.4% during the forecast period, 2023-2030
August 31, 2023 07:18 ET| Source: Fortune Business InsightsFollow
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Pune, India, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global telecom cloud market size was valued at USD 15.18 billion in 2022 and is projected to reach USD 97.07 billion by 2030, exhibiting a CAGR of 26.4% during the forecast period. Fortune Business Insights presents this information in their latest report titled "Global Telecom Cloud Market Forecast, 2023-2030."
Telecom cloud is developed with next-generation network architecture for telecommunication services. Increasing number of mobile users worldwide propels the demand for private cloud in the telecommunication industry, further driving the market growth during the forecast period.
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Key Industry Development-
December 2022 – Linux Foundation (LF) Europe launched Project Sylva to support the European drive toward telecom network cloudification. The seven founding members of the project include Ericson, Nokia Corporation, and Deutsche Telekom, and are integrating cloud technology frameworks to strengthen Europe’s telecom cloud infrastructure.