Kenneth Research, in its repository of market research reports, have recently added a report on Global Telecom Services Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Telecom Services Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Telecom Services Market is valued approximately USD 1581.77 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2020-2027. Telecom Services may include internet, television, and networking for businesses and homes. The growing consumer preferences towards new communication services, technological advancement such as 5G technology, software defined networking (SDN) and Network functions virtualizations (NFV) and the rising demand for more convenient communication services are the major drivers for the telecommunication services market.
According to the report of India Brand Equity Foundation (IBEF) in November 2018, the total number of wireless subscribers stood at 1,171,76 million as well as tele density reached at 89.54% which is fivefold form 18.23% in 2017. as compared However, high capital requirement for setting up telecom services, high set up cost and government regulations towards the telecom services impedes the growth of the market over the forecast period of 2022-2031. Also, the growing demand of high speed data and communication services is likely to increase the market growth during the forecast period.
The regional analysis of global Telecom Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the business installing 5G networks to enhance bandwidth connectivity to access faster data and installing 5G small cell network and private LTE. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing consumer demand for the new advancement in the Telecom Services market across Asia-Pacific region.
Major market player included in this report are:
Verizon Communications Inc.
Nippon Telegraph and Telephone Corporation (NTT)
China Mobile Ltd.
Deutsche Telekom AG
SoftBank Group Corp.
China Telecom Corp Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Fixed Voice Services
Fixed Internet Access Services
Mobile Voice Services
Mobile data services
Pay TV Services
Machine-to-Machine (Mobile IoT) Services
By End Use:
IT & Telecom
Media & Entertainment
Government & Defence,
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
Target Audience of the Global Telecom Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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