According to a new market research report “Telecom Service Assurance Market by Software (Probe Monitoring, Fault & Event Management, Quality & Service Management, Network Performance Monitoring, and Workforce Management), Service, Organization Size, Deployment Type – Global Forecast to 2021”, published by MarketsandMarkets, the market size is estimated to grow from $4.30 Billion in 2016 to $7.01 Billion by 2021, at a Compound Annual Growth Rate of 10.3 percent during the forecast period.
The key forces driving the Telecom Service Assurance Market include need for high optimization & increased cost savings, voluminous increase in the number of subscribers, and ability to measure the performance of a service & Quality-of-Service. Moreover, with the subsequent increase in the adoption rate of cloud service assurance, the Telecom Service Assurance Market is expected to gain major traction during the forecast period.
North America is expected to hold the largest market share and dominate the Telecom Service Assurance Market from 2016 to 2021, owing to the early adoption of new & emerging technologies, and the presence of large number of players in this region. Growth in this region is driven by the expansion of Long-Term Evolution (LTE) networks in the region. CSPs are looking for new innovative solutions to standardize their new 4G/LTE business models, provide better customer service, and measure the service quality & performance. The Asia-Pacific (APAC) region is in the initial growth phase; however, it is the fastest growing region for the global Telecom Service Assurance Market. The key reason for the high growth rate in APAC is the enormous population of this region, which has led to an extensive pool of subscriber base for the telecom companies.