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Telecom Services Market Size, Growth 2021-2028 | Industry Report

Telecom Services Market Analysis Report By Service Type, By Transmission, By End-use, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620235  |  Published: May 2021  |  No of Pages: 250
Format: Electronic (PDF)  |  Industry: Telecommunications & Networks  |  Publisher: Grand View Research

Synopsis

With reference to the report published, the global telecom services market size was prized by USD 1657.7 billion in 2020. It is estimated to witness a 5.4% CAGR from 2021 to 2028.

Drivers

The changes in client likings to the next-generation equipment and smartphone apparatuses, increasing expenditure on the employment of the 5G infrastructures are some of the input reasons, steering the market for the telecom services. The rising quantity of mobile subscribers, elevating requirement for the express data connectivity, and the increasing demand for value additional administered services, are the additional prospective features, powering the enlargement of the market.

north-america-telecom-services-market

The marketers and customers, equally, are getting additionally familiar with the OTT content and the functions. In addition, open-source display place, fantastic speedy Internet Protocol (IP) system, as well as sound and display superiority, are some of the factors that perform like a triggering matter to attract the extra clients towards the OTT. Therefore, observing a constantly increasing acceptance percentage and enhance the expansion of the telecom services market.

Since, the citizens of the various nations in the world fight with the actuality of the COVID-19 pandemic, digital amusement display places with the global providers of telecom services have received the profit from the present situation, owing to their business nature and type. During the present global lockdown situation, a move between adequate to distant working will stimulate the demand for the network infrastructure and connectivity, causing expansion of the market.

Effect of Covid-19

A number of principal telecom operators like NTT, AT&T Inc.; and Verizon Communications Inc.; have revealed, deterioration in the revenue expansion, due to the sluggish order for the telecom services, meant for the business and corporate purpose, in 2020.

Furthermore, the considerable weakening in the worldwide financial system has resultantly abridged the per capita earnings of the customers. This has caused a reduction in expenditure on unnecessary services and products. As a consequence, it has reasonably affected the progress of the market, in 2020.

Transmission Insight

The wireless sector held the biggest share of the telecom services market in 2020. It was more than 75.0% and is estimated to show a major CAGR, for the period of the forecast. The arrival of IoT, cloud-computing technologies, and artificial intelligence is mainly supposed to add to the expansion of the global wireless communication network.

Besides, the rising 5G wave will present differentiation between the wireline and wireless systems. It is foreseen to meet the communication forms into a combined continuous arrangement in the enterprise, residential, and public places.

Similar to the wireless infrastructure of 5G, the wireline infrastructure, moreover, performs a very important part in presenting better quality to the mobile users and optimizing network functioning. Additionally, wireline equipment facilitates voice/data interchange from the nodes to anywhere the content is hosted, manipulated, and streamed.

Service Type Insight

The mobile data services section retained the major share of the telecom services market, in 2020, with almost 33.0%. It is estimated to show a momentous CAGR, for the period of the forecast. This is credited to the considerably increasing handling of the smartphones, between the clients.

Rapidly increasing demand for the speedy broadband services, used for domestic as well as business purposes, is more estimated to encourage the progress of the section, during the forecast period. Furthermore, a huge requirement for accessing 4K UHD videos, along with playing cloud games online, is expected to encourage the expansion of the market.

The development of the Internet of things (IoT) apparatuses has increased its production through a number of business verticals. It comprises utilities & energy, healthcare, the public sector, manufacturing, and others. The quantity of IoT-connected apparatuses is anticipated to go over 50 billion, by 2028.

The speedily increasing IoT devices will need fast data connectivity to communicate and function flawlessly. Hence, the requirement for telecom services is likely to see, major enlargement in the machine-to-machine services sector, throughout the forecast period.

End-Use Insight

The residential/consumer sector remained the biggest revenue share of the telecom services market, in 2020. It was above 60.0% and is estimated to retain its dominance, during the forecast period. The momentous enlargement is credited to the global propagation of smartphones. There were over 8 billion global subscribers of mobile phones, registered in 2020. In which above 60% of the populace was utilizing smartphones. In contrast to the government hold companies, the private telecom operators made up the better subscriber base.

global-telecom-services-market

Additionally, the rising insist for the OTT function is considering the consumers to support wireless internet assistance, by this means, significantly encouraging the employment of the communication system on a broader stage. Moreover, the increasing inclination for online gaming, along with to utilization of ultra-high-definition videos, is estimated to increase the progress of the section, during the forecast period.

The requirement for telecom services is growing in commercial function, by means of the employment of next-generation speedy networks. The companies are setting up 5G minor cell networks along with private 5G and LTE networks, to get into speedy information bandwidth so as to evade latency in their system.

Regional Insight

The Asia Pacific held the biggest, above 32.0% share of the global telecom service market, in 2020. It is estimated to observe the considerable development, during the forecast period. The region is expected to fascinate, over half of the fresh mobile phone subscribers, by 2028. Principally, the local market is aggravated by the funds in 5G networks, smartphone ubiquity, and retailer buy-in platforms as well as e-commerce. India, China, and Japan have appeared as the important donors, to the enlargement of the local market. Consistent with the information, published by the International Telecommunication Union (ITU), India and China were positioned between the leading global internet users by over 560 and 854 million clients, correspondingly, in 2020.

Increasing initiatives by the governments on digital incorporation, by means of the Information Communication Technologies (ICT), are, furthermore, expected to power the expansion of the Asia Pacific market for the telecom services. Such as, the government of India spent more than USD 600 million, for the growth of 100 smart city schemes. Here, IoT performs a very important function in these cities, which meet the criteria of smart cities.

Owing to the excessive expenditure of the customers on mobile phones, together with the advanced implementation of digitized technology, North America held a substantial revenue share, in 2020. The recent introduction of 5G in the U.S. Australia, Germany, the U.K., and South Korea, are projected to impel market growth.

Companies

The main companies in the market are intentionally concentrating on mergers & acquisitions with the intention of increase their geological attendance and in the general range of the products.

For example, T-Mobile US, Inc. obtained Sprint Corporation, a U.S. headquartered telecommunication business, in April 2020. The tactical merger was intended to construct a strong 5G network infrastructure, within the U.S. and secure the highest market in metropolitan, in addition to, the rustic areas. The merger will create a projected asset of almost USD 40 billion into its network, corporate, plus others, during the subsequent span of three years. The major companies are, furthermore, spending a sizeable amount in purchasing the essential spectrum for presenting next-generation services.

Some of the companies for the telecom services market are:

• Comcast Corporation
• Orange SA
• Reliance Jio Infocomm Limited
• KT Corporation
• Telefonica SA
• Soft Bank Group Corp.
• China Mobile Ltd.
• Verizon Communications Inc.
• BT Group plc
• KDDI Corporation
• Bharati Airtel Limited
• Vodafone Group
• China Telecom Corp Ltd.
• Deutsche Telekom AG
• Nippon Telegraph and Telephone Corporation (NTT)
• AT&T Inc.

Report Scope

 Report Attribute

Details

The market size value in 2021

USD 1,707.96 billion

The revenue forecast in 2028

USD 2,467.01 billion

Growth Rate

CAGR of 5.4% from 2021 to 2028

The base year for estimation

2020

Historical period

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Service type, transmission, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; China; Japan; India; South Korea; Brazil; Mexico

Key companies profiled

AT&T Inc.; Verizon Communications Inc.; NTT; China Mobile Ltd.; Deutsche Telekom AG; SoftBank Group Corp.; China Telecom Corp Ltd.; Telefonica SA; Vodafone Group; KT Corporation; Bharati Airtel Limited; Reliance Jio Infocomm Limited; KDDI Corporation; Orange SA; BT Group plc; Comcast Corporation

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global telecom services market report based on service type, transmission, end-use, and region:

• Service Type Outlook (Revenue, USD Billion, 2017 - 2028)
    • Fixed Voice Services
    • Fixed Internet Access Services
    • Mobile Voice Services
    • Mobile Data Services
    • Pay-TV Services
    • Machine-to-Machine (Mobile IoT) Services

• Transmission Outlook (Revenue, USD Billion, 2017 - 2028)
    • Wireline
    • Wireless

• End-use Outlook (Revenue, USD Billion, 2017 - 2028)
    • Consumer/Residential
    • Business
        • IT & Telecom
        • Manufacturing
        • Healthcare
        • Retail
        • Media & Entertainment
        • Government & Defense
        • Education
        • BFSI
        • Energy and utilities
        • Transportation & Logistics
        • Travel & Hospitality
        • O&G and Mining
        • Others

• Regional Outlook (Revenue, USD Billion, 2017 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
    • The Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)

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