Rise in mobile data traffic, 5G network, and fiber deployment required for connectivity have boosted the growth of the global telecommunication services market.
PORTLAND, Ore., Sept. 20, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Telecommunication Services Market" by Service Type (Mobile Data Services, Fixed Internet Access Services, Mobile Voice Services, Fixed Voice Services, Pay-TV Services, Mobile Messaging), by Transmission (Wireless, Wireline), by End User (Consumer, Business): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global telecommunication services industry was accounted for $1,602.5 billion in 2021, and is expected to reach $2,556.2 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Major determinants of the market growth
Rise in mobile data traffic, 5G network, and fiber deployment required for connectivity have boosted the growth of the global telecommunication services market. However, strict government network radiation rules hinder the market growth. On the contrary, advent of IoT would open new opportunities in the future.
Download Report Sample (320 Pages PDF with Insights) at:
The Covid-19 pandemic had a low impact on the growth of the market as private and government sectors were working together to speed up the development of 5G infrastructure.
For instance, mobile network operators in Thailand had joined forces to offer 5G networks to hospitals during the pandemic. The Easter Economic Corridor (EEC) mandated that 5G must cover around 50% of the area in 2020 and its equipment installation would commence in the same year.
Get detailed COVID-19 impact analysis on the telecommunication services market:
The mobile data services segment dominated the market
By service type, the mobile data services segment held the largest share in 2021, accounting for more than one-fourth of the global telecommunication services market, due to owing to increase in mobile users and number of devices they own, as well as popularity of high-bandwidth applications such as streaming video and video conferencing, is causing the amount of mobile data consumed every year to grow. However, the fixed internet access services segment is estimated to register the highest CAGR of 6.4% during the forecast period. This is because fixed internet access services are a good internet option for streaming videos, listening to music, sending large emails, running credit card machines, and other web-based tools.
The wireless segment to portray the highest CAGR through 2031
By transmission, the wireless segment is projected to manifest the highest CAGR of 5.5% from 2022 to 2031. In addition, the segment held the largest share in 2021, contributing to more than three-fourths of global telecommunication services industry, due to adoption of wireless telecommunication services allow customers to send and receive messages through electronic devices and a wireless medium. The report includes analysis of the wireline segment as well.
The business segment to showcase the highest CAGR by 2031
By end user, the business segment is expected to manifest the highest CAGR of 5.9% during the forecast period, owing to rapid business digitization and Industry 4.0 evolution. However, the consumer segment dominated the market in 2021, accounting for more than three-fifths of the global telecommunication services market, due to ongoing trends such as remote working and bring your own device (BYOD).
If you have any questions, please feel free to contact our analyst at:
Asia-Pacific held the lion's share
By region, the market across Asia-Pacific dominated in 2021, accounting for around one-third of the global telecommunication services market, due to the fact that many countries in the region have evolved with industrial transformation initiatives, thus increasing focus toward 5G deployments. However, the market across LAMEA is expected to register the highest CAGR of 6.4% during the forecast period, due to rise in strategic trails to launch 5G technologies and equipment in this region is high.
Major market players
Cisco Systems Inc.
Nippon Telegraph & Telephone Corp.
The report analyzes these key players of the global telecommunication services market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
SOURCE Allied Market Research