Telecom Services Market size reached USD 1.7 billion in 2021 and is estimated to reach USD 2.6 billion in 2029 and the market is estimated to grow at a CAGR of 5.9% from 2022-2029

To have an edge over the competition by knowing the market dynamics and current trends of “Telecom Services Market”, request for Sample Report here

Market Dynamic Key Drivers and Emerging Trends

Increasing number of mobile subscribers; rising sales of smartphones; demand for high speed internet, data processing, and easy transmission of data are some of the major factors expected to drive the growth of the global telecom services market size. According to the World Bank, in 2018, 51% of the global population has used internet connection internet via a computer, mobile phone, personal digital assistant, games machine, and digital TV among others, and the number of mobile cellular subscription has increased from 7.9 billion in 2018 to 8.2 billion in 2019. This is expected to boost the demand for telecom services over the forecast period

In addition, growing deployment of 5G infrastructures owing to the soaring demand for high-speed data connectivity is further supporting the market growth. Moreover, according to the GSM Association, the 5G connections is expected to reach 1.1 billion, some 12% of total mobile connections, by 2025 and the overall operator revenues to grow at a CAGR of 2.5% to reach $1.3 trillion in 2025, which thereby propels the growth of the telecom services market share in the coming years.

Restraint in the Telecom Services Market

However, high cost of value-added services, security traits maintenance, and low awareness among consumers are some the prominent factors expected to restraint the growth of the market over the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Type – Segment Analysis

Based on the type, the mobile data services segment is expected to hold a notable share in the market. This is primarily due to the growing usage of smartphones coupled with the rising demand for high-speed broadband services among business and residential sectors.  According to the GSM Association, around 72% of the global population will be connected to a mobile network by 2020 and the number of unique mobile subscribers is forecast to grow to 5.8 billion by 2025. This is expected to support the growth of the market over the forecast period.

Transmission – Segment Analysis

Based on the transmission, wireless transmission is projected to witness high growth over the forecast period. This can be attributed to rapid deployment of systems for Wireless Local Area Networks (WLANs); rising adoption of cloud-computing technologies, artificial intelligence, and IoT; and development of wireless infrastructure of 5G, among enterprises. Various benefits of wireless services faster and high speed data transmission, reduced maintenance and installation cost, and easy access from anywhere, anytime is further propelling the market growth.

End-Use Vertical – Segment Analysis

Based on the industry vertical, the residential sector is expected to account for a prominent market share primarily due to the surging number of smart homes coupled with the integration of IoT devices, rising number of smart phone and internet users, and growing demand for OTT applications among consumers globally. Moreover, according to the National Council for Home Safety and Security, 47% of millennials in U.S. have smart home products in their homes and the smart house market will approach 40 billion USD in the U.S by 2020. This is likely to escalate the demand for telecom services in the region.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on region, Asia-Pacific is anticipated to grow at high CAGR during the forecast period. This can be attributed to surge in the number of new mobile subscribers, growing e-commerce and retailer platforms, and rising government initiatives towards the development of smart cities across the region. According to the GSM Association, new mobile internet users across Asia Pacific will reach 663 million by 2025 owing to the growing 5G deployments in Australia, China, Japan, Malaysia, Singapore and South Korea. This is expected to support the telecom services industry.

Top Market Players

Several leading Telecom Services companies operating in the market, include, Verizon Communication Inc., AT&T Inc., BT Group Plc, Vodafone Group Plc, T‑Mobile USA, Inc., Vodafone Group, KDDI Corporation, SoftBank Group Corp., KT Corporation, and Bharati Airtel Limited among others. 

Key Developments: 

• • In 2020, T-Mobile US Inc. officially completed its merger with Sprint Corporation. The merger is to create the New T-Mobile, a supercharged Un-carrier that will deliver a robust 5G network infrastructure.

Segments covered in the Report:

The global Telecom Services market has been segmented on the basis of type, transmission, end-use vertical, and key regions. Based on type, the market is segmented into fixed voice services, fixed internet access services, mobile voice services, mobile data services, pay TV services, machine-to-machine (mobile IoT) services. Based on transmission, the market is segmented into wireline and wireless. Based on the end-use vertical, the market is segmented into residential, IT & telecom, retail, manufacturing, healthcare, retail, BFSI, and others. 

For detailed scope of the “Telecom Services Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Telecom Services Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Telecom Services Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Telecom Services Market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various end-use verticals of global Telecom Services Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Telecom Services Market by Type

• • Fixed Voice Services
  • Fixed Internet Access Services
  • Mobile Voice Services
  • Mobile Data Services
  • Pay TV Services
  • Machine-to-Machine (Mobile IoT) Services

Global Telecom Services Market by Transmission

• • Wireline
  • Wireless

Global Telecom Services Market by End-Use Vertical

• • Residential
  • IT & Telecom
  • Retail
  • Manufacturing
  • Healthcare
  • Retail
  • BFSI
  • Others

Global Telecom Services Market by Region

• • North America Telecom Services Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Transmission
    • By End-Use Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Telecom Services Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Transmission
    • By End-Use Vertical
    • UK Telecom Services Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Telecom Services Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Transmission
    • By End-Use Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Telecom Services Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Transmission
    • By End-Use Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Telecom Services Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Verizon Communication Inc.
  • AT&T Inc.
  • BT Group Plc
  • Vodafone Group Plc
  • T‑Mobile USA, Inc.
  • Vodafone Group
  • KDDI Corporation
  • SoftBank Group Corp.
  • KT Corporation
  • Bharati Airtel Limited