The global Telecom Services market size is expected to be worth around US$ 2.56 trillion by 2028, according to a new report by Vision Research Reports.
The global Telecom Services market size was valued at US$ 1.75 trillion in 2020 and is anticipated to grow at a CAGR of 5.01% during forecast period 2021 to 2028.
Increased spending on wireless communication infrastructures due to the shift in customer preferences towards cellular networks and cloud-based technology is primarily driving the demand for telecom services. Furthermore, soaring demand for high-speed data connectivity, rapid spread of digitalization worldwide, and explosion of consumer-generated multimedia content via Over-The-Top (OTT) applications are some of the other key factors that are expected to contribute significantly to the industry growth.
With the plurality of telecom services, networks, and providers, the sector has emerged as one of the acute components essential for global socio-economic development. The smartphone revolution is another dynamic that has majorly contributed to the growth of the global telecom industry and has manifested the businesses of telecom companies. Migration of cellular devices from feature phones to technologically advanced smartphones has allowed mobile voice, along with data streaming, thereby increasing the demand for high connectivity.
By service type, the market for telecom services is bifurcated into basic communication and Value-Added Service (VAS). The VAS segment held the largest revenue share in 2019. The segment includes no-voice offerings such as in-line data processing, online database storage and retrieval, electronic data interchange, email, and voice mail. The upsurge in VAS revenues for the telecom service operators may be credited to the sustained increase in the number of subscribers in the emerging countries and thrust from network operators to offer relevant mobile services.
By transmission, the global market has been categorized into wireless and wireline. While wireline communication involves the transfer of information via twisted pair, coaxial, and optical fiber cables, the wireless method transmits information Over-The-Air (OTA) using transmitters, receivers, and Radio Frequency (RF) waves. The wireline segment captured the largest revenue share of over 60.0% in 2019 and is projected to maintain its lead over the forecast period. This is attributed to a rising number of SMEs and MNCs in countries, including the U.K., U.S., and China, that utilize an extensive network of Public Switched Telephone Network (PSTN) and Integrated Services Digital Network (ISDN).
By product, the global market is classified into mobile data, mobile voice, fixed data, fixed voice, and others. The mobile data segment accounted for the largest revenue share in 2019 and is expected to maintain its lead over the next few years. Increase in the usage of social networking apps, including Instagram and Facebook, upsurge in the adoption of payment platforms, and amplified demand for entertainment through OTT platforms, especially at an all-time high during the COVID-19 pandemic, are anticipated to drive the mobile data segment.
Based on application, the global market is segmented into residential and commercial sectors. In 2019, the commercial segment accounted for the largest revenue share of the overall communication networks business and is projected to maintain its lead over the forecast period. This may be attributed to the growing emphasis of businesses on the reliability and quality of their data delivery and voice calls with their clients. The MNCs are exceedingly spending on their communication network infrastructure, especially for VAS portfolios, such as video-conferencing, high-security intracompany networks, and corporate calling and texting plans.
The residential segment is anticipated to expand at the fastest CAGR of 6.3% from 2020 to 2027. The proliferation of smartphones worldwide is expected to majorly drive the development of telecom services for the residential segment. According to the GSM Association (GSMA), an industry organization providing the socio-economic impact of cellular devices, there were approximately 5,000 million unique mobile subscribers worldwide in 2017. The subscriber penetration was the highest in Europe, followed by North America. The private network providers account for a larger subscriber base as compared to government-owned companies. In addition, growing demand for OTT applications is contemplating the users to subscribe to wireless internet offerings, thereby significantly contributing to the deployment of communications network at a broader level.
The Asia Pacific captured the largest revenue share in 2019. The region is likely to attract more than half of the new mobile subscribers by 2025 as estimated by GSMA. The regional market is primarily driven by e-commerce and retailer buy-in platforms, smartphone ubiquity, and investments in 5G networks. China, Japan, and India have emerged as significant contributors to regional market growth.
The Middle East and Africa is envisioned to witness the highest growth over the forecast period. This can be attributed to the abrupt migration of existing 2G subscribers to mobile broadband networks and the adoption of 3G as well as 4G networks by younger demographics from the outset. Rising deployment of big data solutions to track and respond to issues relating to disease outbreaks, urban planning, and monitoring air pollution levels is anticipated to contribute to the substantial progression of communication networks in the region.
China Mobile Limited
Nippon Telegraph and Telephone Corporation
Service Type Outlook
Small & Medium Enterprises (SMEs)
Unified Communication & Collaboration
Middle East & Africa
The Telecom Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Telecom Services market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Telecom Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Telecom Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Telecom Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Telecom Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Telecom Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Telecom Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Telecom Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Telecom Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Telecom Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Telecom Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Telecom Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Telecom Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Telecom Services market. These factors have benefited the growth of the global market for Telecom Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Telecom Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Telecom Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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