In its recent annual telecom and data equipment and software report, market research firm Infonetics Research projects an optimistic five years of sturdy continued growth for the telecom and data equipment software market, despite being in the midst of an economical low.
Telecommunications – communication over a distance by technological means – has truly taken off (as a provider of award-winning virtual call center technology, Vocalcom has seen this expansion first-hand).
Jeff Wilson, principal analyst at Infonetics Research, commented that “even though there’s tremendous uncertainty about the health of the global economy and prospects for economic growth in the short term, the telecom and data equipment and software market is on track to grow annually through 2017, driven by major network transformations.”
In fact, following a recession-induced drop in 2009, the market witnessed a 19 percent growth in telecom/data equipment and software revenue, peaking at $172 billion in 2012.
So what does the future hold? The report projects the market to grow at a 4.9 percent compound annual growth rate (CAGR) from now until 2017, where it is expected to hit $218 billion worldwide. Furthermore, between 2013 and 2017, service providers and enterprises will reportedly be investing an accumulative $1 trillion in this exclusive market.
It appears that now is a lucrative time for service providers and enterprises to begin investing in this software. A predicted healthy future is a great market entry indication for small- and medium-sized businesses (SMBs), small and medium-sized enterprises (SMEs) and large enterprises alike.
