Burlingame, Nov. 16, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Telecom Towers Market size was valued at US$ 55.07 Billion in 2023 and is expected to surpass US$ 110.10 Billion by 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 10.4% from 2023 to 2030. The increasing population, advancement in mobile technology, and growing penetration of internet are key factors propelling telecom towers market growth. Moreover, growing focus on seamless connectivity and increasing investment in the development of telecommunication industry are further projected to augment telecom towers market growth. Furthermore, advent of 5G network coupled with the growing demand for new telecom towers in rural and remote areas are again anticipated to fuel market growth.
Key Trends and Analysis of the Global Telecom Towers Market:
Growing adoption of remote working is a recent trend observed in the global telecom tower market. Telecommunication technology has emerged as one of the promising solutions to continue business remotely. According to the Forbes, in terms of gender, there is a higher percentage of men who work from home than women. Specifically, 38% of men work remotely full time, and 23% part time. Comparatively, 30% of women work remotely full time, and 22% part time.
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Key Market Takeaways:
Global telecom tower market is expected to surpass US$110.10 Billion by 2030 and is anticipated to witness a CAGR of 10.4% during the forecast period 2023-2030, owing to the growing telecommunication industry, increasing penetration of internet, and advancement in mobile technology.
On the basis of Deployment Type, shared infrastructure deployment segment is expected to hold a dominant position, owing to the fact that it reduce the overall cost of deployment and helps in efficient utilization of infrastructure.
On the basis of Type of Tower, lattice tower segment is expected to hold a dominant position, owing to their ability to resist and recover large strains.
On the basis of Installation, rooftop segment is expected to hold a dominant position, owing to their ability to offer greatest network coverage
On the basis of Application, communication segment is expected to hold a dominant position, owing to the growing number of mobile user around the globe.
On the basis of region, Asia Pacific is expected to hold a dominant position over the forecast period, due to growing population which is creating demand for telecommunication services in the region.
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Key players operating in the global telecom tower market include American Tower Corporation, AT&T Inc., Bharti Infratel Limited, China Tower Corporation, Crown Castle International Corporation, GTL Infrastructure Ltd, Helios Tower Africa, SBA Communications Corporation, T-Mobile Tower, and Viom Networks
Global Telecom Towers Market Key Developments
In July 2022, Bharti Airtel (Airtel), has launched Ist 30 meters Rural Ultra-lean tower in village Pandori, situated nearly 20 kms from Jammu. This is the first site for this category of towers and has been built by Indus Towers Ltd. The lean tower, product by Indus Towers, has been specially selected for installation to fit the topography of Jammu & Kashmir.
In July 2022, Indus Towers Limited has installed a new telecom tower in Panaji, Goa. The new telecom tower installed by Indus Towers demonstrates the company's commitment to providing affordable, high-quality and reliable services for the growing network connectivity needs of India.
Read complete market research report, "Telecom Towers Market, By Deployment, By Installation, By Application, By Region and Segment Forecast 2023-2030", Published by Coherent Market Insights.
Global Telecom Towers Market Segmentation:
- Global Telecom Towers Market, By Deployment Type
- Shared Infrastructure Deployment
- Owned Deployment
- Global Telecom Towers Market, By Type of Tower
- Lattice Tower
- Guyed Tower
- Monopole Tower
- Stealth Tower
- Global Telecom Towers Market, By Installation
- Rooftop
- Ground Based
- Global Telecom Towers Market, By Application
- Communication
- Radio
- Radar
- Global Telecom Towers Market, By Region
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- By Country:
- North America
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