The report on the Telecom Market has been provided by Absolute Markets Insights. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Telecom market and offers a clear assessment of the projected market fluctuations during the forecast period. The different factors that are likely to impact the overall dynamics of the Telecom market over the forecast period (2021-2030) including the current trends, growth opportunities, restraining factors, and more are discussed in detail in the market study.
Some of key players operating in the global telecom market are listed below:
- America Movil
- AT&T
- BT
- Charter Communications Inc.
- China Mobile International Limited
- China Telecom Corporation Limited.
- China Unicom (Hong Kong) Limited.
- Comcast
- Deutsche Telekom
- KDDI Corporation
- KT corp.
- Nippon Telegraph & Telephone
- Orange S.A.
- SoftBank Corp.
- Telecom Italia
- Telefónica, S.A.
- T-Mobile
- Verizon Communications Inc.
- Vodafone Group Plc
- Other Market Participants
In terms of revenue, the global telecom market is anticipated to grow at a CAGR of ~5.98% over the forecast period (2021 – 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
Browse the Full Report:https://www.absolutemarketsinsights.com/reports/Global-Telecom-Market-2021---2029-1016
Industry Trends
One of the greatest inventions in the history of human race was the development of the telecommunication network towards the end of the 20th century. Telecom networks have facilitated communication, and made the world smaller by reducing the hurdles posed by geographical boundaries. The advent of high speed internet has triggered a series of reforms in the telecommunication sector, such as the availability of video calling and group calling features. The telecom market is also being boosted by the adoption of 5G services. The rise in demand for faster communication solutions amongst both businesses and consumers around the globe is leading for the growth of the global telecom market.
COVID-19 Impact:
The COVID-19 pandemic has caused a paradigm shift in the mode of business operations. The rise in remote work during the pandemic has increased the demand for broadband and wireless internet connections globally. Studies show that the use of internet saw a rise of around 70% during the initial months of the pandemic, as the consumers were using internet for both personal and professional purposes. Individuals were increasingly using mobile and broadband data for reaching their dear and near. Furthermore, high speed internet was also preferred by professional video bloggers, game streamers, and other content creators, which in turn lead to a growth in adoption of telecom services. Therefore, the pandemic has had a positive impact on the global telecom market.
Coverage Outlook:
Based on coverage type, domestic plans accounted for the highest share in the global telecom market in 2020. Individuals are increasingly choosing domestic plans, since most of their voice requirements are covered by these plans. Furthermore, for international calling, data-based services and VoIP is also available, and some companies are providing these data services along with domestic voice plans. The decline in international travel during the pandemic period has resulted in a decrease in adoption of international plans. However, rolling out of the COVID-19 vaccines, and the lifting of travel restrictions by many countries is expected to further lead to the adoption of international plans in the coming years.
Global Telecom Market
By Offering
- Telecom Devices
- Telecom Services
- Mobile Plans
- Data
- Voice
- SMS
- Others
- Broadband Plans
- Television Plans
- Others
By Transmission Type
- Wired
- Wireless
By Coverage
- Domestic
- International
By Plan Type
- Prepaid
- Monthly
- Annual
- Others
- Postpaid/Pay-as-you-go
By End-User
- Residential
- Business
- Information Technology and Telecommunication
- Transportation and Logistics
- Banking, Financial Services and Insurance (BFSI)
- Government
- Retail and Consumer Goods
- Manufacturing
- Oil and Gas
- Healthcare and Pharmaceutical
- Travel and Hospitality
- Education
- Media and Entertainment
- Manufacturing and Automotive
- Other
By Facility Size
- Small & Medium Facilities
- Large Facilities
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