Market Trends of Service Fulfillment Industry
Increasing Network Automation and Increasing Demand for Automated, Real-time Services Drives the Market Growth
The rollout of several technological advancements, such as 5G technology, IoT, AI, Digitization, and many more, Communication Service Providers (CSPs) face constant pressure to enhance and exceed rising customer expectations while minimizing operational costs, with little visibility across platforms, systems, tools, and fragmented data.
With the increasing number of users, connected devices, mobile devices, applications, and the deployment of advanced technologies and capabilities, they are increasing their dependence on enhanced network infrastructure and enhanced connectivity solutions for essential connectivity to a wide range of endpoints.
According to Ericsson, 5G subscriptions are forecast to increase globally from the current year to the following four, from over 1.6 billion to over 4 billion, respectively. North East Asia, South East Asia, India, Nepal, and Bhutan are expected to have the maximum regional subscriptions.
Subsequently, organizations and CSPs are increasingly investing in new network architectures that incorporate advanced management tools to drive the adoption of autonomous networks, leveraging technologies like AI and ML. Hence, the CSPs are contacting Service Fulfillment solution providers to enhance their supply chain activities.
Another trend in the market is the demand for continuous evaluation and performance of networks due to increased network traffic and network processing, particularly from the local area networks, which require real-time streaming network analytics and allows customers to keep track of the health of their network and continuously monitor traffic flows.
This also provides multi-dimensional visualization of application performance, network security, and utilization, thus, allowing companies to analyze and mitigate issues at the site level, application dimension, or individual IP address faster than ever before, thereby significantly improving the end-user experience.
North America is Expected to Register the Largest Market
The North American region is witnessing an increase in the demand for service fulfillment solutions due to an increase in the demand for enhanced connectivity solutions across various platforms, such as video streaming, video calling platforms, and teleconferencing, among various others.
This, coupled with a rapid increase in subscribers on various networks such as 2G, 3G, 4G, 5G, etc., propel the players to adopt service fulfillment. For instance, According to Ericcson, the region is expected to hold close to 250.04 million 5G subscriptions accounting for more than 60 percent of mobile subscriptions in the current year.
Also, the region has become a major hub for the 5G rollout, with Canadian service providers increasingly investing in procuring 5G licenses.
Furthermore, in December 2022, JLL and Quiet Platforms, an American Eagle Outfitters Inc. completely owned subsidiary, announced a collaboration to speed the building of additional advanced fulfillment facilities across the United States in 2023 to service retailers and brands in the Quiet Platforms supply chain network. The two businesses would pioneer a flexible rent-as-a-percentage-of-revenue model for logistics real estate under the terms of the agreement.
Moreover, in April 2022, FlavorCloud, one of the premier headless international logistics software providers, announced a new relationship with ShipBob, the global omnifulfillment platform with over 30 fulfillment facilities in the United States, United Kingdom, Europe, and Australia. ShipBob is completely integrated with the FlavorCloud platform and cross-border services, providing consumers with a smooth and loyalty-building international shipping and returns experience regardless of product kind, shipment origin/destination, or preferred service level.
