The global wireless telecommunication carriers market size is expected to grow from $793.27 billion in 2021 to $861.51 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The growth in the market 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 wireless telecom carriers market is expected to reach $1,149.74 billion in 2026 at a CAGR of 7.5%.
What is the Global Wireless Telecommunication Carriers Market?
The wireless telecommunications carriers market consists of sales of telecommunications services and related goods by entities (organizations, sole traders and partnerships) that operate and maintain switching and transmission facilities to provide telecommunications services via airwaves. The services provided by the companies in this industry include cellular phone services, wireless internet access, and wireless video.
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What drives the Global Wireless Telecommunication Carriers Market?
The number of people using mobile payments to pay for goods and services at the point of sale is expected to increase significantly. Particularly in the USA, mobile payment sales are expected to grow exponentially because of the growth in the number of overall users of the technology. For instance, by the end of 2020, nearly 150 million (approximately 56%) of the consumer population of the US are using mobile payments for in-store payments. In Addition to this, worldwide mobile payment are also increasing. For instance, according to a study by Boku Inc., a mobile payments company, by the end of 2020, there were over 2.8 billion mobile wallets in use and the number is projected to increase by nearly 74% to reach 4.8 billion mobile wallets in use by the end of 2025, which will account nearly 60% of the world’s population. Mobile wallets like Apple Pay, Android Pay and Samsung Pay are likely to become a standard feature on new smartphones, according to e-Marketer research. Increasingly, merchants are also likely to adopt point-of-sale systems that can accept mobile payments. To encourage and promote the use of m-payments, incentives like promotions and loyalty programs will be integrated to attract new users.
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Global Wireless Telecommunication Carriers Market Segments
The global wireless telecommunication carriers market is segmented:
By Type: Cellular/Mobile Telephone Services, Wireless Internet Services
By Application: Household, Commercial
By Product: Voice, Data
By Technology: 3G, 4G, 5G
By Geography: The regions covered in the wireless telecommunication carriers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Wireless Telecommunication Carriers Global Market Report 2022provides market size and growth forecasts for the global wireless telecommunication carriers market, global wireless telecommunication carriers market share, wireless telecommunication carriers market segments and geographies, wireless telecommunication carriers market competitive landscape including leading competitors’ revenues, profiles and market shares. The wireless telecommunication carriers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Wireless Telecommunication Carriers Industry Playersinclude China Mobile, AT&T Inc., Verizon Communications, T-Mobile USA, Inc., Deutsche Telekom AG, Vodafone, America Movil, Telefonica SA, Orange SA and Nippon Telegraph And Telephone Corp. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
