WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โTelecommunication Services Market," The telecommunication services market size was valued at $1602.50 billion in 2021, and is estimated to reach $2556.2 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
The telecommunication services market encompasses a framework of communication tools and services. Increase in demand for telecommunication across the globe propels the market prospects for telecommunication. Telecommunication has been instrumental in improving quality of communication experience, especially through voice and video conferencing.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/A21101
Furthermore, increased mobile data traffic, fiber deployment required for connectivity, and 5G network is boosting the growth of the global telecommunication services market. However, government network radiation rules is hampering the telecommunication services market growth. On the contrary, emergence of internet of things (IoT) is expected to offer remunerative opportunities for expansion during the telecommunication services market forecast.
Depending on end-user, the consumer segment is dominating the Telecommunication Services Market Share and is expected to do so in the forecast period. Ongoing trends such as remote working and bring your own device (BYOD) are the major factors, which drive the demand for telecommunication services in consumer applications. In addition, with growing need for wide and strong connectivity, enterprises are opting for telecommunication services that transmit at power levels between around 0.02 watts and 0.25 watts, with a range of up to around 200 meters. This helps the telecom operators to lower the power consumption, as well as desired quality of service and multiple users are achieved. Increase in telecommunication services deployment in urban areas that transmit at power levels between around 0.25 and 6.0 watts, giving extra coverage and capacity to serve multiple users is further positively supporting the market growth.
Depending on the region, North America dominated the telecommunication services market analysis in 2021. North America has high availability of key players operating in the telecommunication services market. Hence, rise in strategic trails to launch 5G technologies and equipment in this region is high, which drives growth of the market. For instance, in August 2020, the U.S. Department of Defense (DoD) relinquish 100MHz of 3.5GHz spectrum for commercial use, a process that augment deployment of 5G networks in the U.S. in next two years. Moreover, well-developed network infrastructure of North American countries has proliferated adoption of telecom services.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/telecommunication-services-market/purchase-options
However, However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.
The current estimation of 2031 is projected to be lower than pre-COVID-19 estimates. The COVID-19 outbreak has low impact on the growth of the telecommunication services market, owing to the fact that the government and private sectors in emerging countries are working together to speed up the development of 5G infrastructure in the wake of the pandemic. For instance, in Thailand, mobile network operators (MNO) are joining forces to provide 5G networks to hospitals. The Eastern Economic Corridor (EEC), which is a special development zone of Thailand, mandates that 5G must cover approximately 50% of the area in 2020, which means that the equipment installation must commence this year in industrial areas. The outbreak of COVID-19 led to delay in installation of 5G infrastructure in parts of China and Europe, its impact seems to have been limited. Furthermore, in some countries, the pandemic is providing numerous opportunities for accelerated rollout of 5G deployments.
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๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ :
By service type, the mobile data services segment dominated the telecommunication services market in 2021. However, the fixed internet access service segment is expected to exhibit significant growth during the forecast period.
On the basis of end-user, the consumer segment dominated the telecommunication services market in 2021.However, the business segment is expected to witness the highest growth rate during the forecast period.
Region-wise, the telecommunication Services market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A21101
This report gives an in-depth profile of some key market players in the Telecommunication Services industry include Alcatel Lucent Enterprise, AT&T Inc., Bharti Airtel Limited, Cisco Systems Inc., China Mobile Limited, Deutsche Telekom, International Business Machine Corporation (IBM), Juniper Network, KT Corporation, Nippon Telegraph and Telephone Corporation (NTT), Nokia Corporation, Reliance, Softbank Corporation, TATA, Telefonica Corporation, Verizon Communications Inc., and Vodaphone Group. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the Telecommunication Services industry globally.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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