Telecommunication Services Market Overview On Revolutionary Trends

Posted by Sakshi Mishra on March 5th, 2020

The global telecommunication services market has been projected by Transparency Market Research (TMR) to hold on to a significantly fragmented characteristic because of several industry players operating therein. A number of established players such as Vodafone Group PLC, Bharti Airtel, and AT&T Intellectual Property have showcased themselves as leaders of the market. The engagement of innovative and forward-thinking technologies could see a rise in the coming years as players constantly seek to improve their services in the market. There could be an increasing focus on extending geographical presence and adding new services for expanding the business in the industry with the help of strategic acquisitions and partnerships.

As per a TMR report, a revenue generation of US.4 bn could be promised to be achieved by the global telecommunication services market in 2025. The market has been envisaged to expand at a 6.6% CAGR during the forecast tenure 2017-2025. In 2016, it had generated a revenue of US--content--.8 bn. By type of package, the market could be commanded by triple play which accounted for a 38.4% share in 2016. By region, Asia Pacific has been foretold to be in the driver’s seat until the concluding forecast year while rising at a 6.9% CAGR.

Looking for exclusive market insights from business experts? Request a Sample Report

MSMEs Increasingly Adopting IT and Networking Technology Solutions Lift Demand

High industrial activity and the expansion of micro, small, and medium enterprises (MSMEs) across the globe have been envisioned to tellingly enhance the growth of the world telecommunication services market. MSMEs have been taking to the adoption of networking technology and IT solutions for enabling convergence across multiple devices, driving capex and opex efficiencies, and improving productivity. Mobile telecommunication services could be highly demanded in the market with the increasing adoption of smartphones offering a wide range of functions. Among the various types of mobile telecommunication services, internet and phone could hold a major prominence in the near future.

Telecommunications is a faster growing industry that particularly interests the business world. Telecommunication services could be effectively used to strengthen business relationships and build a sound communication with customers. These services also allow an uncomplicated transmission of data and provide flexibility for the benefit of the employees of an organization.