Service Assurance Market worth $XX.X billion by 2027
According to a research report "Service Assurance Market by Component (Platforms and Solutions, and Services), Organization Size (SMEs, Large Enterprises), Deployment Mode (On-premises, Cloud), End Use Industries (Telecommunication, IT, Government, Transportation, Retail, Healthcare, Other End Use Industries) and Region - Global Forecast to 2027" published by MarketsandMarkets, the Service Assurance market size is projected to grow from USD XX.X billion in 2022 to USD XX.X billion by 2027, at a CAGR of XX.X% during the forecast period.
Factors impacting the growth of Service Assurance Market
- The increasing adoption of 5G, AL, IoT and other technologies and various verticals has fueled the demand of service assurance solutions to ensure the quality of service.
- There is an increasing demand for service assurance solution to ensure the quality and performance of the system.
- The rising trend of digital transformation, and adoption of smart devices worldwide are accelerating the market growth during the forecast period.
- To enhance customer satisfaction and ensure long term profitability by offering best-in-class customer experience and.
Service assurance service helps to lower operational costs, increase overall revenue, and improve network performance
Service assurance solutions provide tools to ensure the meet the performance and quality expectations and help service provide to take better decision. The new wave of digitalization is enforcing industries to adopt service assurance platforms and solutions to improve customer experience. The services market holds a significant share of the total service assurance market and is expected to grow at a high rate. As most businesses lack the technical expertise to manage their network infrastructure, professional services pave the way to overcome these problems.
Asia Pacific to have highest growth rate during forecast period
China, Japan, and India are the major revenue-contributing countries for the Asia Pacific service assurance market. The growing digitalization and increasing smartphone adoption across the Asia Pacific and the need to deal with network connectivity and enhance network performance would drive the adoption of service assurance solutions in the region. Asian telecom service providers, vendors, and government firms are determined to take the lead in 5G research and deployment. Various countries in Asia have working on the development of smart infrastructure such as smart building, smart cities projects. The rapid shift from 4G to 5G technology and a high mobile subscription penetration account for the growth of the Japanese market. These factors will fuel the demand of service assurance solution in the Asia Pacific region.
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