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The global telecommunication market has been continuously transforming with the adoption and integration of emerging communication technologies such as 5G, IoT, NB-IoT, and many more. Telecommunication is an infrastructure that allows the transfer of all types of data such as voice, text, audio, video at any time and anywhere across the world through a wired or wireless medium. The telecommunication field became a dynamic sector that plays a significant role in the social and economic development of the world. The telecommunication sector is penetrating its services and coverage in remote areas of the world and becoming a robust part of human lives. The telecom sector includes telephone, telecommunication, and internet service providers. The industry expanded in the past decades from telephonic voice calls to mobile data calls, internet calls, text, internet, and TV broadcasting services. With the increasing population and modernization of society, the use of smartphones is also rising. Apart from these, significant technological developments in the telecom area led to the increasing dependence of the defense sector on telecommunication products and services for better and enhanced communication. Focusing on the growing demand for smart devices & networks with more bandwidth operators are renovated their price plans and services to gain customer satisfaction.
Key Market Driver -
• Increasing adoption of IoT and smart devices • Cost optimized availability of products and services
Key Market Restraint -
• High capital investments and license fees • Continuous evolution in technology
Initially, the telecommunication sector was dealing mostly with voice communication, however, the telecommunication technology has evolved from 2G, 3G, 4G, 5G, to NFV/SDN networks to offer improved data speed and broader connectivity. These advancements allow the telecom sector to broadcast voice as well as images, videos, text (email, messaging), etc. Digital Subscriber Lines (DSL) are primarily used for broadband connectivity. Nevertheless, value-added services offered by the telecommunication product and service providers are expected to boost telecom market growth in a sophisticated way. High-speed and cost-optimized internet connectivity for different data applications such as interactive entertainment and broadband information services such as Direct to Home (DTH) is ubiquitous. Some key trends such as the internet of things (IoT), video streaming, and mobile payments, are driving the growth of the market. The emergence of these trends is likely due to the expansion of mobile devices and related broadband connectivity around the globe. According to the survey conducted by ITU, by the end of the year 2019, the number of internet users has augmented up to 4.1 billion. The poll represents the rapid progress of the telecommunication market.
Airtel company for the countrywide expansion of its connectivity network established Indus tower and became a partner of Idea & Vodafone. The Airtel strategically partnered with topmost investors of the telecom industry such as Nokia, Sony Ericsson, Apple, Singtel, which boost the bottom line & brand equity of the company.
Some of the players operating in global telecommunication market are China Mobile Ltd, AT&T, Verizon Communications, Vodaphone Group, SoftBank Corp., Reliance, Time Warner Cable Inc., Airtel, America Movil, Telefonica Telstra, Nippon Telegraph & Tel, Deutsche Telekom, T-Mobile US Inc., DirecTV Group, etc.
The worldwide presence of active players drives telecom market growth. The massive population in Asian countries such as India and China is supplementing the growth of telecom subscribers in the region. Rapid technological developments in the area are expected to boost market growth in North America. The presence of top telecom companies is also a significant reason for the growth of the market across the region. Optimization of network investments for customer satisfaction also contributed to the increasing growth of the telecom market in the area.
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IoT deployment and increasing adoption of artificial intelligence and machine learning contribute to telecommunication market growth. Apart from this, increasing usage of smartphones, 4G, and high-speed broadband services offers an opportunity for growth of the telecom market in Latin America. Various service portfolios offered by telecommunication products and service providers delivering security, cloud and IoT solutions are projected to reflect a stable progression of the European telecommunication sector.
By Telecommunication Services, by Type
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