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Telecommunication Market Size to Worth Around USD 2.4 Tn by 2030

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The Telecommunication market is projected to reach US$ 2.4 Tn by 2030. And registering a CAGR of around 5.1% over the forecast period 2021 – 2030.

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According to the report, the global telecommunication market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will remain at the forefront of the global demand, with the market in the region expected to grow at a higher rate throughout the forecast period. All businesses are affected by the increasing lockdown situation due to COVID-19. Demand for telecommunication solutions is expected to increase with the adoption of different cloud based communication platform solutions across all regions.

Vigorous adoption of telecom services during the COVID-19 (coronavirus) pandemic has led to unprecedented growth of the global telecommunication market. Since stakeholders in most workplaces and other commercial spaces are practicing self-isolation and social distancing, they resort to telecommunication to connect with their employees and customers. The concept of telehealth is surging in the telecommunication market since patients are preferring contactless diagnosis. Thus, telemedicine technology is playing an instrumental role for healthcare practitioners to lower the risk of infection transmission and flatten the curve of COVID-19 cases.

Voice and video conferencing have created a wave of transformation in telecommunication services. The burgeoning demand for remote health services is increasing worldwide. Hence, telecom retailers are expanding the availability of different communication and collaborative tools so that individuals can avail full advantage of telemedicine services. 5G architectures and cloud computing are paving the way for the adoption of new technologies in the telecommunications market. The growing demand for high-speed connectivity and fast protocols for data transfer are generating incremental opportunities for companies in the telecommunication market.

The global telecommunication market comprises large as well as mid-sized manufacturers and service providers. Service providers in the telecommunication market are currently focusing on introducing advanced telecommunication, integrating new capabilities within telecommunication platforms to enable telecommunication services across company boundaries, and meeting the need to manage communication with multiple offices and employees. Moreover, vendors are adopting partnerships and acquisition strategies to compete in the regional market proficiently.

Companies in the telecommunication market are adopting new business strategies to unlock revenue streams through the consumer sector, B2B, and the government sector. Since retail & e-Commerce is predicted to generate the second-highest revenue among all industries in the telecommunication market, companies are interested in developing comprehensive retail strategies to reach the right customers. The growing trend of online shopping is benefitting companies in the telecommunication market, as companies can effectively market their products according to customers’ requirements.

Adoption of New Business Strategies for Revenue Growth

Understanding the product mix is paving the way for success in retail operations. Companies in the telecommunication market identify the combination of their product offerings to maximize customer-service quality in the retail sector. Even though digital services are on the rise, conventional brick-and-mortar stores offer a live experience to customers, which is often missing in the digital space. Hence, stakeholders owning telecom retail stores are tapping revenue opportunities online and offline to enhance the consumer buying experience. Telecom Industry in India is experiencing revenue growth with the Internet of Things (IoT) and 5G architecture. Hence, leading players in India aim to strike the right balance between transforming processes and people within their organizations to gain an edge over newcomers.

Additionally, the deployment of cloud-based telephony solutions and AI in the telecommunication market allows employees to remain connected with the organization and other employees, increasing their work efficiency. Thus, urbanization and globalization, along with technology and device proliferation, is expected to escalate the growth of the telecommunication market during the forecast period.

Rising Penetration of Mobile Devices and Benefits Offered by Cloud Telephony Solutions Driving Telecommunication Market

Tablets and smartphones support audio and video conferencing, instant messaging (IM), email, and social networking via PBX mobile extensions and software clients. Hence, a majority of IP PBX vendors have integrated voice into their UCC portfolios to further extend the enterprise UCC functionality to tablets, cell phones, and smartphones via mobile client software. This functionality was traditionally available only through softphones and desktop phones.

According to the Ericsson Mobility Report – 2017, smartphone subscriptions are expected to more than double by the end of 2020. Around 70% of the world’s population is anticipated to own a smartphone to get connected to the Internet by the end of 2020.

Deployment of cloud telephony solutions has enabled enterprises to reduce their capital expenditure (CAPEX) associated with installation of hardware. It has also supported organizations to enhance their focus on revenue-generating operations, thereby eliminating the need for hiring and retaining operational staff for management of communication equipment in an organization.

Users can access these solutions from any Internet-connected device, which shores up their productivity and allows usage of various cloud-based telecommunication services from any remote location

Additionally, deployment of cloud-based telephony solutions allow employees to remain connected with the organization as well as other employees, thereby increasing their work efficiency. Thus, urbanization and globalization, along with technology and device proliferation is expected to escalate the growth of the telecommunication market during the forecast period.

Scope of the Report

  • The report offers detailed segmentation based on component, enterprise size, and industry. In terms of component, hardware is expected to rise at a steady CAGR during the forecast period 2020 to 2030.
  • The hardware sub-segment includes broadcast communication equipment, telecom infrastructure equipment, and consumer premise equipment, which have contributed to a huge proportion of the overall telecommunication market revenue
  • Based on component, software/platform sub-segment includes on-premise and cloud based. The services segment is predicted to rise at the highest CAGR during the forecast period. Services includes telecommunication services, installation & integration services, repair & maintenance services, and managed services.
  • Based on enterprise size, large enterprise is the topmost revenue generating segment, which contributed the most to the global revenue in the telecommunication market. On the other hand, the small and medium enterprises segment is predicted to expand at the highest CAGR during the forecast period 2020 to 2030.
  • In terms of industry, the telecommunication market is segmented into retail & e-Commerce, IT & ITES, aerospace, healthcare & pharmaceutical, media & entertainment, hospitality, automotive, manufacturing, transportation & logistics, and others (oil & gas, utilities, and education)

Some significant players engaged in the telecommunication market include 8×8 Inc., AT&T, Inc., BT Group plc, Cisco Systems, Inc., Deutsche Telekom AG, Huawei Technologies Co., Nokia Corporation, Orange SA, The Nippon Telegraph and Telephone (NTT) Corporation, Verizon Communications, Inc., Vodafone Group Plc., and West Corporation (Intrado Corporation).

Global Telecommunication Market: Segmentation

Telecommunication Market, by Component

  • Hardware
    • Broadcast Communication Equipment
    • Telecoms Infrastructure Equipment
    • Consumer Premise Equipment
  • Software/Platform
    • On-premise
    • Cloud
  • Services
    • Telecommunication Services (TSP)
  • Wired Services
  • Wireless Services
    • Installation & Integration Services
    • Repair & Maintenance Services
    • Managed Services

Telecommunication Market, by Enterprise Size

  • Small & Medium Enterprises
  • Large Enterprises

Telecommunication Market, by Industry

  • Retail & e-Commerce
  • IT & ITES
  • Aerospace
  • Healthcare & Pharmaceutical
  • Media & Entertainment
  • Hospitality
  • Automotive & Manufacturing
  • Transportation & Logistics
  • Others (Oil & Gas, Utilities, and Education)

Telecommunication Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

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Research Methodology

The research methodology adopted by analysts for compiling the global telecommunication market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global telecommunication market.

Table of Contents

Chapter 1.    Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.    Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.    Executive Summary

3.1.  Market Snapshot

Chapter 4.    Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.    Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.    Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape

6.1.3.1.          List of Suppliers

6.1.3.2.          List of Buyers

Chapter 7.    Global Telecommunication Market, By Component

7.1.  Telecommunication Market, by Component, 2021-2030

7.1.1.     Hardware

7.1.1.1.          Market Revenue and Forecast (2016-2030)

7.1.2.     Software/Platform

7.1.2.1.          Market Revenue and Forecast (2016-2030)

7.1.3.     Services

7.1.3.1.          Market Revenue and Forecast (2016-2030)

7.1.4.     Wired Services

7.1.4.1.          Market Revenue and Forecast (2016-2030)

7.1.5.     Wireless Services

7.1.5.1.          Market Revenue and Forecast (2016-2030)

Chapter 8.    Global Telecommunication Market, By Enterprise Size

8.1.  Telecommunication Market, by Enterprise Size, 2021-2030

8.1.1.     Small & Medium Enterprises

8.1.1.1.          Market Revenue and Forecast (2016-2030)

8.1.2.     Large Enterprises

8.1.2.1.          Market Revenue and Forecast (2016-2030)

Chapter 9.    Global Telecommunication Market, By Industry

9.1.  Telecommunication Market, by Industry, 2021-2030

9.1.1.     Retail & e-Commerce

9.1.1.1.          Market Revenue and Forecast (2016-2030)

9.1.2.     IT & ITES

9.1.2.1.          Market Revenue and Forecast (2016-2030)

9.1.3.     Aerospace

9.1.3.1.          Market Revenue and Forecast (2016-2030)

9.1.4.     Healthcare & Pharmaceutical

9.1.4.1.          Market Revenue and Forecast (2016-2030)

9.1.5.     Media & Entertainment

9.1.5.1.          Market Revenue and Forecast (2016-2030)

9.1.6.     Hospitality

9.1.6.1.          Market Revenue and Forecast (2016-2030)

9.1.7.     Automotive & Manufacturing

9.1.7.1.          Market Revenue and Forecast (2016-2030)

9.1.8.     Transportation & Logistics

9.1.8.1.          Market Revenue and Forecast (2016-2030)

9.1.9.     Others (Oil & Gas, Utilities, and Education)

9.1.9.1.          Market Revenue and Forecast (2016-2030)

Chapter 10.Global Telecommunication Market, Regional Estimates and Trend Forecast

10.1.          North America

10.1.1.  Market Revenue and Forecast, by Component (2016-2030)

10.1.2.  Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.1.3.  Market Revenue and Forecast, by Industry (2016-2030)

10.1.4.  U.S.

10.1.4.1.       Market Revenue and Forecast, by Component (2016-2030)

10.1.4.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.1.4.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.1.5.  Rest of North America

10.1.5.1.       Market Revenue and Forecast, by Component (2016-2030)

10.1.5.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.1.5.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.2.          Europe

10.2.1.  Market Revenue and Forecast, by Component (2016-2030)

10.2.2.  Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.2.3.  Market Revenue and Forecast, by Industry (2016-2030)

10.2.4.  UK

10.2.4.1.       Market Revenue and Forecast, by Component (2016-2030)

10.2.4.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.2.4.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.2.5.  Germany

10.2.5.1.       Market Revenue and Forecast, by Component (2016-2030)

10.2.5.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.2.5.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.2.6.  France

10.2.6.1.       Market Revenue and Forecast, by Component (2016-2030)

10.2.6.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.2.6.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.2.7.  Rest of Europe

10.2.7.1.       Market Revenue and Forecast, by Component (2016-2030)

10.2.7.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.2.7.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.3.          APAC

10.3.1.  Market Revenue and Forecast, by Component (2016-2030)

10.3.2.  Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.3.3.  Market Revenue and Forecast, by Industry (2016-2030)

10.3.4.  India

10.3.4.1.       Market Revenue and Forecast, by Component (2016-2030)

10.3.4.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.3.4.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.3.5.  China

10.3.5.1.       Market Revenue and Forecast, by Component (2016-2030)

10.3.5.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.3.5.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.3.6.  Japan

10.3.6.1.       Market Revenue and Forecast, by Component (2016-2030)

10.3.6.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.3.6.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.3.7.  Rest of APAC

10.3.7.1.       Market Revenue and Forecast, by Component (2016-2030)

10.3.7.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.3.7.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.4.          MEA

10.4.1.  Market Revenue and Forecast, by Component (2016-2030)

10.4.2.  Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.4.3.  Market Revenue and Forecast, by Industry (2016-2030)

10.4.4.  GCC

10.4.4.1.       Market Revenue and Forecast, by Component (2016-2030)

10.4.4.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.4.4.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.4.5.  North Africa

10.4.5.1.       Market Revenue and Forecast, by Component (2016-2030)

10.4.5.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.4.5.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.4.6.  South Africa

10.4.6.1.       Market Revenue and Forecast, by Component (2016-2030)

10.4.6.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.4.6.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.4.7.  Rest of MEA

10.4.7.1.       Market Revenue and Forecast, by Component (2016-2030)

10.4.7.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.4.7.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.5.          Latin America

10.5.1.  Market Revenue and Forecast, by Component (2016-2030)

10.5.2.  Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.5.3.  Market Revenue and Forecast, by Industry (2016-2030)

10.5.4.  Brazil

10.5.4.1.       Market Revenue and Forecast, by Component (2016-2030)

10.5.4.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.5.4.3.       Market Revenue and Forecast, by Industry (2016-2030)

10.5.5.  Rest of LATAM

10.5.5.1.       Market Revenue and Forecast, by Component (2016-2030)

10.5.5.2.       Market Revenue and Forecast, by Enterprise Size (2016-2030)

10.5.5.3.       Market Revenue and Forecast, by Industry (2016-2030)

Chapter 11.   Company Profiles

11.1.                 8×8 Inc.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.                 AT&T, Inc.

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.                 BT Group plc

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.                 Cisco Systems, Inc.

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.                 Deutsche Telekom AG

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.                 Huawei Technologies Co.

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.                 Nokia Corporation

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.                 Orange SA

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.                 The Nippon Telegraph and Telephone (NTT) Corporation

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.              Verizon Communications, Inc.

11.10.1.                   Company Overview

11.10.2.                   Product Offerings

11.10.3.                   Financial Performance

11.10.4.                   Recent Initiatives

Chapter 12.   Research Methodology

12.1.                 Primary Research

12.2.                 Secondary Research

12.3.                 Assumptions

Chapter 13.   Appendix

13.1.                 About Us

13.2.                 Glossary of Terms

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