The wireless telecommunication carriers market size reached $883.28 billion in 2023, advancing to $919.23 billion in 2024, reflecting a CAGR of 4.1%. This growth is driven by increased mobile phone adoption and data usage. By 2028, the market is expected to grow to $1,170.6 billion, with a projected CAGR of 6.2%, fueled by smart city developments and advancements in public safety communications.
Major Driver In The Wireless Telecommunication Carriers Market
The increasing reliance on mobile devices is set to propel the growth of the wireless telecommunication carriers market. Mobile devices, equipped with voice communication capabilities and on-board sensors, drive the need for robust infrastructure and services provided by wireless carriers. As per Uswitch Limited, the UK witnessed a 3.8% increase in mobile connections in 2022, highlighting the expanding market. With an estimated 95% smartphone ownership among the UK population by 2025, the wireless telecommunication carriers market is poised for substantial growth in 2023, 2024, and 2028.
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Wireless Telecommunication Carriers Market Competitive Landscape
China Mobile Ltd., Verizon Communications Inc., Comcast Corp, AT&T Inc., Deutsche Telekom AG, Reliance Industries Ltd., Nippon Telegraph And Telephone Corp, T-Mobile USA Inc., China Telecom Corp Ltd., SoftBank Group Corp., Vodafone, KDDI Corp, Orange SA, America Movil, Telefonica SA, Bharti Airtel Limited, Telecom Italia, KT Corporation, Telstra Corp Ltd., Etisalat, SK Telecom Co. Ltd., MTN Group Limited, Swisscom AG, Singtel Group, Telia Company AB, Telenor ASA, Axiata Group Bhd, Ooredoo Group, Turkcell Iletisim Hizmetleri A.S.
Key Wireless Telecommunication Carriers Market Trend
The biggest forthcoming change in the telecoms industry is the emergence of fifth-generation mobile networks (5G). 5G is expected to be much faster than the present 4G network. The 5G network is yet to be commercially available and this new generation mobile network is likely to provide the capacity needed to support the IoT (Internet Of Things) revolution. Low latency is another important feature expected from 5G.
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Wireless Telecommunication Carriers Market Segmentation
The wireless telecommunication carriers market covered in this report is segmented –
1) By Type: Cellular/Mobile Telephone Services, Wireless Internet Services
2) By Product: Voice, Data
3) By Technology: 3G, 4G, 5G
4) By Application: Household, Commercial
By Geography:The regions covered in the wireless telecommunication carriers market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in wireless telecommunication carriers market in 2023.
The Wireless Telecommunication Carriers Global Market Report 2024 furnishes information about the global wireless telecommunication carriers 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.
