The global telecom service assurance market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Telecom service assurance refers to the systematic process of maintaining and improving the quality of service provided by telecom companies to customers. It ensures that services offered over networks adhere to pre-defined service quality for an optimal subscriber experience. It is usually enforced using network monitoring tools that constantly perform checks and tests against network services and applications. At present, modern telecom service assurance offers key functions, including supporting reactive and proactive processes to provide reliable service delivery to customers; mitigating the risk of disruption during planned modifications to the network; and maintaining visibility of network topologies and other contextual information.
Nowadays, telecom operators around the world need to respond quickly to meet modern customer expectations and emerging business opportunities and keep pace with rapid innovation. This represents one of the significant factors impelling the market growth. Moreover, advancements in operations support system (OSS) environments due to the rising acquisition of companies, the introduction of new technologies, and the evolution of organizational structure are resulting in a set of separate silos, which rely on manual processes. This, in turn, is positively influencing the market.
In addition, the advent of 5G, virtualization, and the Internet of Things (IoT) technologies are enabling automation of network and service management, which helps optime silos and manage service assurance efficiently. The increasing interdependency across business lines and domains, the complexity of technology ecosystems, the growing data volumes, and a shift towards converged networking are encouraging the adoption of new generation platforms. Apart from this, the escalating demand for telecom power systems on account of significant growth of the telecom infrastructure in rural areas, in confluence with the increasing popularity of wireless communication technologies, is creating a positive influence on the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, Broadcom Inc, Cisco Systems Inc., Comarch S.A., Ericsson Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., International Business Machine Corporation, NETSCOUT Systems Inc., Nokia Oyj and TEOCO.