The cellular or mobile telephone services market has maintained steady growth, increasing from a market size of $216.15 billion in 2023 to $223.37 billion in 2024, with a compound annual growth rate (CAGR) of 3.3%. The historical growth is linked to the emergence of digital cellular networks, the introduction of GSM standards, the expansion of coverage areas, the rise of mobile data services, and the introduction of prepaid services. Looking ahead, the cellular or mobile telephone services market is expected to experience strong growth, reaching a market size of $273.72 billion in 2028, with a CAGR of 5.2%. The forecast period is anticipated to see this growth due to smart city initiatives, the rise of mobile virtual network operators (MVNOs), solutions for mobile security, virtualization, network slicing, and evolving user behavior. Key trends in the forecast period encompass the rise of 5G technology, expansion of the Internet of Things (IoT), surge in mobile data consumption, evolution of mobile devices, and the increased demand for remote work and connectivity.
Major Driver In The Cellular or Mobile Telephone Services Market
An increasing number of mobile subscribers is predicted to contribute to the growth of the cellular or mobile telephone services market over the forecast period. According to the Cisco Annual Internet Report, the number of mobile subscribers across the globe is expected to increase to 5.7 billion (71% of the population) by 2023. Therefore, growing mobile phone subscribers are projected to increase the overall demand for growth of the cellular or mobile telephone services market. The market size for 2023 stands at 5.7 billion mobile subscribers. For 2024 and 2028, the specific figures are not mentioned.
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Cellular or Mobile Telephone Services Market Competitive Landscape
Google LLC, Tata Sons Limited, Verizon Communications Inc., China Mobile Limited, Alibaba Group Holding Limited, AT&T Inc., Deutsche Telekom AG, Nippon Telegraph and Telephone Corporation, T-Mobile US Inc., International Business Machines Corporation, SoftBank Corp., Cisco Systems Inc., Vodafone Group plc, Nokia Corporation, BCE Inc., Telus Corporation, Rogers Communications Inc., Juniper Networks Inc., United States Cellular Corporation, Gemalto N.V., KongZhong Corporation, Freedom Mobile Inc., Saskatchewan Telecommunications Holding Corporation, Southern Communications Services Inc ., STRATA Networks, Tampnet Inc., Nex-Tech Wireless Inc., Carolina West Wireless Inc., Pine Belt Wireless Inc., Cellular South Inc., Bragg Communications Inc., Xplornet Communications Inc., Bell MTS Inc., Koodo Mobile, Fido Solutions Inc., Virgin Plus, Rogers Communications Canada, Bell Canada, Public Mobile Inc., Cityfone Telecommunications Inc.
Key Cellular or Mobile Telephone Services Market Trend
Major companies operating in the cellular or mobile telephone services market are launching new services such as World Mobile service to address connectivity gaps and cater to both mainstream and under-served regions globally. World Mobile Service is a telecom offering that integrates blockchain and cryptocurrency technologies to provide mobile network services. For instance, in August 2023, World Mobile, a UK-based telecom company that merges blockchain and crypto technologies, launched its services in the US, UK, Australia, Canada, and Tanzania through the World Mobile app. The app is available initially for Android users, and the service aims to enhance connectivity in areas that lack it by leveraging the power of blockchain. The company offers a decentralized wireless network service using its own token, the World Mobile Token (WMT), which operates on the Cardano blockchain. The unique feature of their app is the "Scan for Points" function, allowing users to identify weak internet areas and earn rewards. The company has also partnered with SingularityNET to explore decentralized Artificial Intelligence services.
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Cellular or Mobile Telephone Services Market Segmentation
The cellular or mobile telephone services market covered in this report is segmented –
1) By Type: Basic Communication, Value-Added
2) By Service: 3G Services, 4G Services, 5G Services
3) By End User: Manufacturing, Energy And Utilities, Media And Entertainment, It And Telecom, Transportation And Logistics, Healthcare
By Geography:The regions covered in the cellular or mobile telephone services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the cellular or mobile telephone services market in 2023.
The Cellular or Mobile Telephone Services Global Market Report 2024 furnishes information about the global cellular or mobile telephone services market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
