Telecom Market Characteristics
The telecoms market consists of sales of telecoms goods and services by entities (organizations, sole traders and partnerships) that apply communication hardware equipment for the transmission of voice, data, text and video. This market includes segments such as wired telecommunications carriers, wireless telecommunications carriers and communication hardware. The telecoms market also includes sales of goods such as GPS equipment, cellular telephones, switching equipment.
Competitive Landscape of the Telecom Market
Major players in the global telecom market include AT&T, Apple, Verizon Communications, China Mobile Limited, Samsung.
Telecom Market Size
The telecom market size is expected to reach $28 trillion by 2022, significantly growing at a CAGR of around 5% during the forecast period. The growth in the telecom market is due to emerging markets growth, technology development, and low interest rate environment.
However, the market for telecom is expected to face certain restraints from several factors security issues, government regulations.
Telecom Market Segmentation
The global telecom market is further segmented based on type and geography.
By Type - The telecom market is segmented into wireless telecommunication carriers, communications hardware wired telecommunication carriers, satellite & telecommunication resellers among these segments the wireless telecommunication carriers market accounts for the largest share in the global telecom market.
By Geography - The global telecom 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 the largest share in the global telecom market.
Trends in the Telecom Market
Internet TV is gaining traction, focus on wireless and mobile technologies and packaged services are the major trends witnessed in the global telecom market.
Potential Opportunities in the Telecom Market
With smart cities, government initiatives, internet of things (IoT), the scope and potential for the global telecom market is expected to significantly rise in the forecast period.