The trend is expected to continue for the next eight years
The Business-to-Business (B2B) telecommunications market is beginning to pick up on a global scale. Across a number of industry verticals, businesses are adopting IT-as-a-service models in order to improve and enhance their operations. This has led to an incredible demand for B2B telecommunications solutions and the trend is expected to continue to increase for at least the next eight years.
B2B telecommunications recorded revenue of over $33 billion in 2017. By the close of 2026, the market is expected to reach more than $107.47, which would reflect a compound annual growth rate (CAGR) of about 13.6%. Over a quarter of the global B2B revenue in telecommunications will be seen in areas such as financial services, banking and insurance, which is expected to reach over $27 billion. Other areas expected to benefit will be administrative entities, healthcare organizations, medical research institutes and the media and entertainment industries.
Companies that seek out B2B telecommunications service have a number of options readily available to them, all with catered solutions to suit the entities’ needs. Cloud-based B2B solutions now account for more than half of the options and there is a trend toward the adoption of unified communication solutions. By 2026, almost $25 billion in revenue is expected to be made from the sales of unified B2B telecom services and there is going to be extensive growth in the need for M2M, WAN and VOIP solutions.
