As per study of Absolute Markets Insights, the global telecom market is projected to grow at a CAGR of 5.98% over the forecast period (2021 – 2029). The telecom market growth can be attributed to the rise in telecom usage in both residential and commercial settings.
Companies are increasingly making use of high speed internet services, and international voice calling services, for enhancing their business processes. The growth of 4G and 5G telecom services has facilitated in the penetration of mobile phone SIMs in urban locations. The rise in focus on connecting rural and urban environments using telecom services is also boosting the growth of the telecom industry, as government bodies are increasingly promoting business plans that targets the rural locations. There have also been government mandates for rural connectivity, especially in the Asia Pacific region. In India, for instance, the government has mandated the setting up of a Universal Services Obligation (USO) fund, which is under the National Telecom Policy, to provide telecom services in rural areas at a reasonable price. The growth in rural networks also is helping the companies to add more subscribers, thereby leading to a rise in revenue. The availability of affordable smart devices that support 4G and 5G services is another factor that is supplementing the revenue growth in the global telecom market. The market participants are also providing bundled packages that include mobile devices, voice plans and internet plans, amongst others. AT&T, for instance, provides Google Pixel 6 Pro monthly plans which starts from US$ 26.12 per month. The device will be under contract, and the end-user can't use any other SIM in the phone during this period. The company also sells the same phone for the retail price of US$ 939.99. These factors are contributing towards the growth of the global telecom market.
Browse the full Report on “Telecom Market By Offering (Telecom Devices, Telecom Services (Mobile Plans (Data, Voice, SMS, Others), Broadband Plans, Television Plans, Others)); By Transmission Type(Wired, Wireless);By Coverage (Domestic, International); By Plan Type (Prepaid (Monthly, Annual, Others), Postpaid/Pay-as-you-go); By End-User (Residential, Business (Information Technology and Telecommunication, Transportation and Logistics, Banking, Financial Services and Insurance (BFSI), Government , Retail and Consumer Goods, Manufacturing, Oil and Gas , Healthcare and Pharmaceutical, Travel and Hospitality, Education, Media and Entertainment, Manufacturing and Automotive, Other); By Facility Size (Small & Medium Facilities, Large Facilities): Global and Regional Outlook, Comprehensive Analysis and Forecast, 2021 – 2029” Report
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Reasons for Procuring Telecom Market Report from Absolute Market Insights:
The research report on Telecom Market will include extensive information based on the following pointers:
- Global Market Size and Forecast Values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein:
- 2015 to 2019 - Historic Years
- 2020 - Base Year
- 2021 to 2029 - Forecast Period
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Macro-Economic and Micro-Economic Indicators
- Market Determinants and Influencing Factors
- Market Dynamics: Global Telecom Market
- Drivers
- Restraints
- Opportunities
- Trends on Global Telecom Market
- Level of Impact of COVID-19 on the Global Telecom Market
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product/Solution Benchmarking
- Market Share Analysis and Positioning, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product/solution benchmarking which will include comparison of different products offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding the following pointers:
- Company Details
- Company Overview
- Product Offerings
- Key Developments
- Financial Analysis
- Swot Analysis
- Business Strategies
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**We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its respective countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)**
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Pandemic Effect on Global Telecom Market
The COVID-19 pandemic has massively altered the lifestyle of individuals around the globe, and created a paradigm shift in business operations. Companies are increasingly incorporating digitization strategies, and the telecom market has drastically benefited as a result of digitization. The growth of cloud computing is aiding the adoption of high speed broadband and Wi-Fi services, as companies are making use of the internet for performing business operations. Internet-based marketing is also gaining traction during the pandemic. Furthermore, the availability of cloud-based software-as-a-service tools for several business operations such as data analysis, marketing, performance monitoring, risk analysis, etc., is made possible due to internet services, which in turn is enhancing the adoption of these services. On the consumer side, the pandemic has lead to a growth in both data and voice consumption, especially in North America and the Asia Pacific region. Video conferencing, video streaming, online gaming, and social media usage lead to a 40% surge in internet usage in 2020 during the peak of lockdown in many countries. Based on studies by the International Energy Agency (IEA), the number of mobile internet users is expected to reach 5 billion towards the end of 2025, driven by the pandemic. Hence, the pandemic has positively impacted the growth of the global telecom market, and the revenue is expected to see considerable rise as a result of the growth adoption of telecom services in the coming years, predominantly driven by the pandemic.
The Asia Pacific region is expected to register a surge in the number of telecom users in the next decade. The boom in population in the Asia Pacific region, coupled with the increase in disposable income in countries like China, India, Indonesia, Malaysia, etc., is paving way for the growth of telecom market services in the region.
Key competitors profiled in report and favourably influencing telecom market revenue are:
- America Movil
- AT&T
- BT
- Charter Communications Inc.
- China Mobile International Limited
- China Telecom Corporation Limited.
- China Unicom (Hong Kong) Limited.
- Comcast
- Deutsche Telekom
- KDDI Corporation
- KT corp.
- Nippon Telegraph & Telephone
- Orange S.A.
- SoftBank Corp.
- Telecom Italia
- Telefónica, S.A.
- T-Mobile
- Verizon Communications Inc.
- Vodafone Group Plc
- Other Market Participants
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The global telecom market is segmented as follows:
By Offering
- Telecom Devices
- Telecom Services
- Mobile Plans
- Data
- Voice
- SMS
- Others
- Broadband Plans
- Television Plans
- Others
- Mobile Plans
By Transmission Type
- Wired
- Wireless
By Coverage
- Domestic
- International
By Plan Type
- Prepaid
- Monthly
- Annual
- Others
- Postpaid/Pay-as-you-go
By End-User
- Residential
- Business
- Information Technology and Telecommunication
- Transportation and Logistics
- Banking, Financial Services and Insurance (BFSI)
- Government
- Retail and Consumer Goods
- Manufacturing
- Oil and Gas
- Healthcare and Pharmaceutical
- Travel and Hospitality
- Education
- Media and Entertainment
- Manufacturing and Automotive
- Other
By Facility Size
- Small & Medium Facilities
- Large Facilities
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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