Telecom Services Market (By Service Type: Fixed Voice Services, Fixed Internet Access Services, Mobile Voice Services, Mobile Data Services, Pay-TV Services, Machine-to-Machine (Mobile IoT) Services; By Transmission: Wireline, Wireless; By End-use: Consumer/Residential, Business) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Apr 2021 | No. of Pages : 150+ Pages | Category : ICT

The global Telecom Services market size is expected to be worth around US$ 3.47 trillion by 2030, according to a new report by Vision Research Reports.

The global Telecom Services market size was valued at US$ 1,657.7 billion in 2020 and is anticipated to grow at a CAGR of 5.10% during forecast period 2021 to 2030.

Telecom Services Market Size 2021 to 2030

Report Coverage

Report Scope Details
Market Size US$ 3.47 trillion by 2030
Growth Rate CAGR of 5.10% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Service Type, Transmission,End-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned AT&T Inc.; Verizon Communications Inc.; NTT; China Mobile Ltd.; Deutsche Telekom AG; SoftBank Group Corp.; China Telecom Corp Ltd.; Telefonica SA; Vodafone Group; KT Corporation; Bharati Airtel Limited; Reliance Jio Infocomm Limited; KDDI Corporation; Orange SA; BT Group plc; Comcast Corporation

Growth Factors

Increased spending on next-generation  infrastructures due to the shift in customer preferences toward the 5G network and cloud-based technology is primarily driving the demand for telecom services. Furthermore, soaring demand for high-speed data connectivity, the rapid spread of digitalization worldwide, and the explosion of consumer-generated multimedia content via Over-The-Top (OTT) applications are some of the other key factors that are expected to significantly contribute 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 rapid adoption of smartphone devices is another dynamic that has majorly contributed to the growth of the global telecom industry and has manifested in the businesses of telecom companies. The migration of cellular devices from feature phones to 5G-enabled smartphones has generated a massive demand for high bandwidth connectivity, improved voice services, and other value-added services, thereby fueling the market growth over the forecast period.

Network Functions Virtualization (NFV) and Software-Defined Networking (SDN) are the telecom network architectures that provide wider and improved connectivity at reduced infrastructure costs. These architectures based on network abstraction processes are envisioned to transform the global communication industry over the coming years. While NFV allows network slicing to offer customized solutions to varied industries, SDN enables the communication service providers to work in partnership with a broader ecosystem. These services are anticipated to offer efficient network connectivity and support the new era of 5G networks.

The outbreak of COVID-19 has compelled governments worldwide to announce national lockdowns in the initial days. The in-home isolation of the worldwide population has given a pathway to digital entertainment platforms. The growing demand for video streaming services on applications, such as Netflix, YouTube, and Amazon, has raised the usage of data services. Additionally, the shutdown of several businesses across the globe, coupled with a significant impact on the global economy, has hampered the overall market growth in 2020. However, with the significant investments made by federal governments across key countries, such as the U.S., China, India, the U.K., and Germany, to bring their economies’ growth on track, the market is expected to witness considerable growth from 2021 to 2028.

Report Highlights

In 2020, the mobile data services segment held the largest share of nearly 33.0% and is expected to exhibit a significant CAGR from 2021 to 2028. This is attributed to the significantly growing usage of smartphones among consumers. Rapidly rising demand for high-speed broadband services for corporate and residential applications is further expected to bolster the segment growth over the forecast period. Moreover, a massive demand for accessing online 4K UHD videos and playing online cloud gaming is estimated to spur the data services market growth.

The evolution of the Internet of things (IoT) devices has raised its proliferation across several industry verticals, including healthcare, manufacturing, energy and utilities, and the public sector, among others. The number of IoT-connected devices is expected to exceed 50 billion by 2028. The rapidly growing IoT devices would require high-speed data connectivity to operate and communicate seamlessly. Therefore, the demand for telecom services is expected to witness significant growth in the machine-to-machine services segment over the forecast period.

In 2020, the wireless segment accounted for the largest share of over 75.0% and is expected to exhibit a significant CAGR from 2021 to 2028. The advent of cloud-computing technologies, artificial intelligence, and IoT is presumed to majorly contribute to the growth of wireless communication channels worldwide. Over the years, there has been a rapid deployment of systems for Wireless Local Area Networks (WLANs) that has enabled internet access to cellular devices in private homes, public spaces, airports, office buildings, cafeterias, and other areas. Such wireless densification to simplify work processes and automate routine test actions is presumed to prove beneficial, hence registering a robust CAGR in the forthcoming years.

Furthermore, a growing 5G wave would offer demarcation between wireless and wireline networks and is envisioned to converge the communication modes into a unified end-to-end system in public, residential, and enterprise spaces. In parallel to the wireless infrastructure of 5G, the wireline infrastructure also plays a vital role in offering better mobile user quality and optimizing network performance. In addition, wireline technologies enable data/voice traffic from the nodes to where content is streamed, hosted, and manipulated.

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 moderate growth of the wireline segment is attributed to a rising number of SMEs and MNCs in countries, including the U.K., the U.S., and China, that utilize an extensive network of Public Switched Telephone Network (PSTN) and Integrated Services Digital Network (ISDN).

In 2020, the consumer/residential segment accounted for the largest revenue share of more than 60.0% and is projected to maintain its lead over the forecast period. The significant growth is ascribed to the proliferation of smartphones worldwide. There were more than 8 billion mobile subscribers recorded globally in 2020, wherein more than 60% of the population was using smartphones. The private telecom operators account for a larger subscriber base as compared to government-owned companies. In addition, the growing demand for OTT applications is contemplating the users to subscribe to wireless internet offerings, thereby significantly contributing to the deployment of communication networks at a broader level. Additionally, the growing trend of using ultra-high-definition videos and online gaming is expected to boost the segment growth over the forecast period.

The demand for telecom services is increasing in business applications with the deployment of next-generation high-speed networks. Businesses are installing 5G small cell networks and private LTE and 5G networks to access faster data bandwidth in order to avoid latency in their network. The enhanced bandwidth connectivity would help businesses cater to their client's requirements with minimum waiting time and improve the overall customer experience. Moreover, the key business application areas include VoIP services, fixed and mobile data connectivity, unified communication, and other services. To handle a rapidly increasing chunk of customers’ datasets, it would require unified and fast network connectivity across businesses globally. This, in turn, is estimated to fuel the segment growth from 2021 to 2028.

In 2020, Asia Pacific captured the largest share of more than 32.0% and is expected to witness significant growth from 2021 to 2028. The region is likely to attract more than half of the new mobile subscribers by 2028. 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 the regional market growth. According to the statistics published by the International Telecommunication Union (ITU), China and India were ranked among the top internet users worldwide with more than 854 million and 560 million users, respectively, in 2020.

Furthermore, rising government initiatives on digital integration through Information Communication Technologies (ICT) are anticipated to fuel the APAC market growth. For instance, the Indian government spent over USD 600 million on the development of 100 smart city projects, where plays a vital role in those cities qualifying as ‘smart cities.’

North America accounted for a considerable revenue share in 2020 on account of high consumer spending on mobile phones, coupled with the early adoption of digitized technologies. The current launch of 5G in South Korea, Australia, Germany, the U.K., and the U.S. is anticipated to drive the market. More than 20.0% of communication connections worldwide are projected to incorporate 5G networks by 2028 with a strong presence in North America and Europe.

Key Players

  • AT&T Inc. 

  • Verizon Communications Inc. 

  • Nippon Telegraph and Telephone Corporation (NTT)

  • China Mobile Ltd.

  • Deutsche Telekom AG

  • SoftBank Group Corp.

  • China Telecom Corp Ltd.

  • Telefonica SA 

  • Vodafone Group

  • KT Corporation

  • Bharati Airtel Limited

  • Reliance Jio Infocomm Limited

  • KDDI Corporation

  • Orange SA

  • BT Group plc

  • Comcast Corporation

Market Segmentation

  • Service Type Outlook 

    • Fixed Voice Services

    • Fixed Internet Access Services

    • Mobile Voice Services

    • Mobile Data Services

    • Pay-TV Services

    • Machine-to-Machine (Mobile IoT) Services

  • Transmission Outlook 

    • Wireline

    • Wireless

  • End-use Outlook

    • Consumer/Residential

    • Business

      • IT & Telecom

      • Manufacturing

      • Healthcare

      • Retail

      • Media & Entertainment

      • Government & Defense

      • Education

      • BFSI

      • Energy and utilities

      • Transportation & Logistics

      • Travel & Hospitality

      • O&G and Mining

      • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa (MEA)

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 2030. 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 2030. 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:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

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

Research Methodology:

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

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.

Primary Sources

 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:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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