Telecom Global Market To Reach Value Of Over $3 Trillion In 2025
7 May, 2021
The telecom market consists of sales of telecom goods and services by entities (organizations, sole traders and partnerships) that provide communication hardware equipment for the transmission of voice, data, text and video. The telecoms market also includes manufacturers’ sales of goods such as GPS equipment, cellular telephones and switching equipment.
Global Telecom Market Size And Drivers:
The global telecom market is expected to grow from $2555.45 billion in 2020 to $2713.53 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3461.03 billion in 2025 at a CAGR of 6%. IoT technology adoption by manufacturing and transportation services companies is driving the telecom market in the forecast period.
Request For A Sample For The Global Telecom Market Report:
Trends In The Global Telecom Market
IoT is a network of physical objects such as devices, vehicles, buildings and other items which are embedded with electronics, software, sensors and network connectivity enable these objects to collect and exchange data. For instance, Microsoft and Rolls-Royce have announced a partnership centering on future Rolls-Royce intelligent engines, which will integrate Microsoft Suite into its service solutions to expand its digital capabilities. Smart Grid encompasses inter related technologies entering public use to manage electricity consumption. Thus, IoT technology adoption is expected to expand the demand for telecom services.
Global Telecom Market Segments:
The global telecom market is further segmented based on type and geography.
By Type: Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers
By Application: Household, Commercial
Subsegments covered: Cellular/Mobile Telephone Services, Wireless Internet Services, Broadband Internet Services, Fixed Telephony Services, Direct-To-Home (DTH) Services, General Communication Equipment, Broadcast Communications Equipment, Telecom Infrastructure Equipment, Satellite Telecommunications, Telecommunication Resellers, Other Satellite & Telecommunication Resellers
By Geography: The global telecom market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific telecom market accounts for the largest share in the global telecom market.
Read More On The Report For The Global Telecom Market At:https://www.thebusinessresearchcompany.com/report/telecom-global-market-report-2020-30-covid-19-impact-and-recovery
Telecom Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides telecom market overviews, analyzes and forecasts market size and growth for the global telecom market, telecom market share, telecom market players, telecom market segments and geographies, telecom market’s leading competitors’ revenues, profiles and market shares. The telecom market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.