Dublin, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The "Telecommunication Services Global Industry Almanac 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global telecommunication services industry has witnessed a remarkable growth trajectory, setting a new benchmark with market revenues hitting $1.41 trillion in 2023. This growth is a testament to the industry’s robust expansion and adoption rates worldwide. A comprehensive analysis of the market identifies significant trends and provides insight into the underlying factors contributing to this growth.
Key Market Insights
With the telecommunication services market encompassing both fixed-line and wireless services, notable progress has been documented across various sectors. The industry has sustained a compound annual growth rate (CAGR) of 1.3% from 2018 to 2023, highlighting steady sectoral development. The expansion can be attributed to the increasing reliance on mobile connectivity, with statistical analyses revealing a 3.3% CAGR in market consumption volume over the same period, culminating in 9.94 billion subscriptions in 2023. The rising numbers illustrate escalating global connectivity and the integral role of telecommunication services in modern society.
Competitive Landscape
The growth and competitive pressures within the telecommunication services industry remain vigorous. The emergence of cutting-edge technologies and the relentless pursuit of innovation among market players drive this dynamic sector. A detailed Five Forces analysis within the industry elucidates the competitive intensity and attractiveness of this global market.
Future Outlook
Looking forward, the industry is poised to continue its upward trajectory with optimistic forecasts extending to 2028. Companies and stakeholders leverage these insights for strategic planning and to bolster market presence. The analysis of the market's structure reveals the major segments, shedding light on the diverse and multifaceted nature of global telecommunication services.
Key Implications
The substantial increase in market size and value over the last five years underscores the importance of telecommunication services across economic and social spheres. With the market poised for further growth, the sector stands as a pivotal element in the global technological landscape. The comprehensive data and analysis serve as a foundation for industry leaders to implement data-driven strategies and accommodate the evolving demands of the market.
In conclusion, the global telecommunication services market continues to thrive, backed by solid performance and optimistic projections. The ongoing digital transformation and increasing mobile penetration are among the central drivers shaping the industry's future.
Companies Featured
- Altice Europe NV (Inactive)
- America Movil, SA DE C.V.
- AT&T Inc
- Atea ASA
- Axtel, S.A.B. de C.V.
- BCE Inc.
- Bharti Airtel Limited
- Bouygues Telecom SA
- BT Group plc
- China Mobile Communications Corporation
- China Telecom Corporation Limited
- China United Network Communications Ltd
- Comcast Business Communications LLC
- Deutsche Telekom AG
- DNA Oyj
- Elisa Oyj
- EVRY ASA (Inactive)
- Hi3G Denmark Aps
- Iliad SA
- KDDI Corporation
- Koninklijke KPN N.V.
- KT Corporation
- LG Uplus Corp
- M1 Ltd
- Masmovil Ibercom SA
- Mobile Telesystems PJSC
- MTN Group Limited
- NTT DOCOMO Inc
- Orange SA
- PT Indosat Ooredoo Hutchison Tbk
- PT Smartfren Telecom Tbk
- PT Telekomunikasi Indonesia International
- Public Joint-Stock Co MegaFon
- Reliance Jio Infocomm Ltd
- Rogers Communications, Inc.
- Rostelecom
- SFR SA
- Sinch AB
- Singapore Telecommunications Ltd
- Singtel Optus Pty Ltd
- Sistema JSFC
- SK Telecom Co., Ltd.
- SoftBank Corp
- StarHub Ltd
- Swisscom, Ltd.
- TDC Holding A/S
- Tele2 AB
- Telefonica Brasil SA
- Telefonica Germany GmbH & Co OHG
- Telefonica, S.A.
- Telenor ASA
- Telia Co AB
- Telia Finland Oyj
- Telkom SA SOC Limited
- Telstra Group Limited
- TELUS Corporation
- TIM SpA
- T-Mobile US, Inc.
- TPG Telecom Ltd
- Turk Telekomunikasyon AS
- Turkcell Iletisim Hizmetleri AS
- United Internet AG
- Verizon Communications Inc.
- VimpelCom
- VMED O2 UK Ltd
- Vodacom Group
- Wind Tre Spa
For more information about this report visit https://www.researchandmarkets.com/r/mt4vu1
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