Global B2B Telecommunication
Global B2B telecommunication refers to any form of communication between businesses. As a result, B2B telecommunication doesn’t include business-to-client or client-to-client communication.
B2B telecommunication includes emails, fax, instant messaging, radio, satellite, video, and more. Telecommunication service providers have systems to transmit voice, video, text, and sound, thereby facilitating direct communication between companies.
Many marketing companies use B2B telecommunication to boost their brand and identify business opportunities.
Thanks to high-speed internet and smartphones, the African and global B2B telecommunications markets are snowballing.
In this blog post, we’ll cover everything you need to know about B2B telecommunications and what to expect in the near future.
B2B Telecommunication Market share, size global growth analysis, trends, industry analysis, key players and forecast to 2028
1. The African Telecommunication Market
The African entertainment and telecommunication market is expected to register a CAGR of 11.2% during the forecast period (2021 – 2026). Additionally, most African markets are projected to grow online video revenues. Interestingly, the region’s digital consumption growth is one of the highest globally. The online video market is experiencing exponential growth thanks to the continent’s large youth population, access to mobile phones, and fast-improving streaming platforms.
2. The Global Telecommunication Market
Valued at $46.36 billion in 2020, The global B2B telecommunication market will reach $181.35 billion by 2030.
North America is expected to hold the largest share of the B2B telecommunications market, with Europe coming in a close second.
Additionally, countries in the Asia Pacific, notably India, China, and South Korea, are quickly adopting cloud services and VoIP (Voice over Internet Protocol), further expanding their telecommunications markets.
Covid 19 Impact
During the lockdown, the African entertainment industries still thrived in the digital space. Movie theaters and film distributors combated social distancing and lockdown restrictions by implementing changes like transactional video-on-demand platforms for new releases. The lockdown also led to more people consuming music, video, and other forms of entertainment.
The impact of the Covid-19 pandemic also resulted in growth for the global B2B telecommunication market.
The global B2B telecommunication industry benefited from the outbreak of the Covid-19 and, in turn, lockdown. Many employees and students had to rely on broadband services and video conferencing tools to work from home. Additionally, remote teams rely heavily on communication tools for unified communication and collaboration.
Market Growth Factors
In Africa, the increased availability of low-cost smartphones, data tariffs, and improving 3G and 4G networks coverage are major growth factors.
Additionally, further development in the telecom infrastructure will create more opportunities for the entertainment industry, like new customer acquisitions.
Another market growth factor is the African continent’s youth population, which is increasing. In fact, by 2050, the African continent is projected to have a population comprising nearly 50% of young people (people between 0 and 24 years old). And there’s no doubt that Africa’s youth is a crucial component for smartphone access and the consumption of entertainment and telecommunication services.
There you have it – the global B2B telecommunication key trends and what to expect in the coming years.
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