Telecom Services Market Analysis, Evolving Opportunities Studied For The Period forecast

“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 2022-2031. 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 2020-2027. Also, the growing demand of high speed data and communication services is likely to increase the market growth during the forecast period.

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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:

AT&T Inc.
Verizon Communications Inc.
Nippon Telegraph and Telephone Corporation (NTT)
China Mobile Ltd.
Deutsche Telekom AG
SoftBank Group Corp.
China Telecom Corp Ltd.
Telefonica SA
Vodafone Group
KT Corporation

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