Allied Market Research

Advancements in AI and ML and expansion of 5G networks are further likely to create lucrative opportunities for the growth of the global market. 

NEW CASTLE, Del., Sept. 13, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Telecommunications and BFSI Customer Engagement Solutions Market by Offering (Solutions and Services), Deployment (On-Premise and Cloud), and Enterprise Size (Large Enterprises and SMEs): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the telecommunications and BFSI customer engagement solutions market was valued at $7 billion in 2023, and is estimated to reach $16.1 billion by 2032, growing at a CAGR of 8.7% from 2024 to 2032.

Prime Determinants of Growth

Digital transformation and data-driven approaches are the factors expected to propel the growth of the global Telecommunication & BFSI customer engagement solution market. However, data privacy and security concerns and high implementation and maintenance costs are anticipated to hamper the growth of global market.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2024–2032
Base Year	2023
Market Size in 2023	$7 billion
Market Size in 2032	$16.1 billion
CAGR	8.70 %
Segments covered	Offering, deployment, enterprise size and Region.
Drivers	Digital Transformation
	Data-Driven Approaches