The telecommunications services market revenue by the end of 2021 was US$ 1,725.1 Bn. The market is expected to reach US$ 3,303.3 Bn by 2032, as it is estimated to grow at a CAGR of 6.2% for 2022-2032.
| Attribute | Details |
|---|---|
| Estimated Year (2022) Market Value | US$ 1,804.5 Billion |
| Projected Year (2032) Market Value | US$ 3,303.3 Billion |
| CAGR% (2022 to 2032) | 6.2% |
| Top 5 Vendor Market Share | Around 40% |
Telecommunications Services are the services offered by telecom companies to the end users which allows them to use their communication devices or other devices which could allow them to transmit messages and information to other devices, allowing human to human interaction.
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The telecommunications services market is estimated to grow at a CAGR of 6.2% for the forecast period of 2022–2032.
The growth of telecommunication services market is estimated to grow over the forecast period for s certain factors like, growing use of smartphone users across the globe, provision of high-speed internet and development of 5G internet network and the growth of industries like call centres, BPOs, retail and e-commerce since a large section of their business operations deal with the use of telecommunication services.
The telecom market is starting to adopt new technologies such as cloud computing and 5G architecture. Nowadays, online communication is becoming more attractive in almost every field, such as education, healthcare, and IT. Demand for high-speed connectivity for data transfer and other public and personal tasks is driving demand in the telecommunications market. Overall, the demand for telecommunications is huge. Finally, increased use of video streaming, voice transmission, and data exchange due to easier access to Internet services is driving the growth of the telecommunications market. Cloud computing is being adopted by stakeholders to reduce costs and stay competitive. Cloud computing is therefore expected to bring great opportunities to the telecommunications market.
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For the telecommunications services market, North America was estimated to have the highest market share for 2021 of 35.3% and South Asia and Pacific is estimated to grow at a CAGR of 7.5%.
Due to strong consumer mobile phone expenditure and early adoption of digital technology, North America accounted for a sizeable portion of global sales in 2021. The market is expected to be driven by the present rollout of 5G.
South Asia and Pacific has several key players specific to the region and its countries. Several companies in this region are implementing digital commerce allowing the telecommunication services market to grow and the countries in this region also has a large BPO and call centre industry which handles outsourced tasks from North American and European countries. For this reason, South Asia and Pacific is estimated to be the fastest growing region for telecommunications services market.
United States has a high population and urbanization at a large scale. Presence of several large telecommunication service providers and widespread mobile phone usage are strong drivers for the telecommunications services market in USA.
Apart from these reasons, there is also a historic legacy in this country, development and usage of pagers and FAX transmission as well as landline telephones was in high use and implementation in this country.
For this reason, the telecommunications market in USA was estimated to have the market share of 15.3% for the year 2021.
Large population of this country, access to high-speed internet and wide spread availability of smart phones in this country acts as drivers for the telecommunication services market. Steps are being taken by the government and companies to implement 5G mobile connectivity across the nation.
Development of E-commerce business, a large IT industry and home to one of the largest BPO industry are the reasons why the country is estimated to grow at a CAGR of 7.4% for the forecast period.
China has the largest population globally and the government as well as telecommunication companies have taken numerous steps to implement 5G mobile network much faster than several other countries. E-commerce platforms and online shopping is highly popular and are well developed allowing the telecommunications industry to grow in this country. For this reason, China is estimated to grow at a CAGR of 7.2% for the forecast period.
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Mobile telecom services have been one of the keystones which have successfully established wireless as the normalized method of communication and operation of technologies. They haven’t replaced fixed-network services and the fixed-network services will continue to be used and developed over the years.
Progress in mobile telecom services has been rapid and the pace is estimated to continue for the forecast period. 5G connectivity, Internet of things, various elements of cloud computing which are developing technologies implement mobile telecom services.
For this reason, mobile telecom services are estimated to grow at a CAGR of 6.7% for the forecast period.
E-Commerce is a form of industry which was able to establish itself because of the emergence of internet and its widespread availability among individuals. E-Commerce is also one of the fastest growing industry and as the industry expands so will their reliance on telecommunication services.
Various B2C e-commerce businesses happen on the internet, but in order to take the necessary steps to complete the transactions physically, customer interaction is an important aspect which is fulfilled by short message services [SMS], phone calls, and modes of communication via internet.
For this reason, E-Commerce industry is estimated to be the fastest growing industry for the telecommunication services market and is estimated to grow at a CAGR of 8.2%.
Various companies which operate within this domain find their primary customers in the form of the common people. However, larger entities like industries and governments are also strong clients. Each region or country has its own set of key players making it difficult for other players to enter any market post the point of market saturation.
| Attribute | Details |
|---|---|
| Market value in 2021 | US$ 1,725.1 Billion |
| Market CAGR 2022 to 2032 | 6.2% |
| Share of top 5 players | Around 40% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
| Key Segments Covered | Type and End User |
| Key Companies Profiled | Cyient; AT&T; Nokia; Idea; Vodafone; Reliance; Bharti Airtel; Verzion Communications; Deutsche Telekom; China Mobile; Ooredo |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some of the leading telecommunication services companies are AT&T, Reliance, Vodafone and Verzion Communications.
South Asia & Pacific is estimated to have the highest growth for the telecommunications services market during the forecast period of 7.5%.
Having the access to telecommunication devices which could allow long distance and real time communication seamlessly.
Mobile telecom services had the largest market share for the telecommunications services market of 57.8% in 2021.
E-Commerce has the highest CAGR of 8.2% for the forecast period.
U.S.A, U.K, India, China and Japan.
Market share of South Asia and Pacific for the year 2021 is 13.4%.
North America had a market share of 35.3% in 2021 for telecommunications services market.
India has the highest CAGR for the forecast period, which is 7.4%.
The estimated market value for telecommunications services market for the year 2022 is US$ 1,804.5 Bn.
For East Asia region, the CAGR for the forecast period is estimated to be 6.7%.
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