Major companies in the telecom market include Apple, Verizon Communications, China Mobile, AT&T Inc. , Deutsche Telekom AG, Huawei, Comcast Corporation, T-Mobile USA, Inc. , China Telecom and Telefonica SA.

New York, March 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Telecom Global Market Report 2022" - https://www.reportlinker.com/p06246414/?utm_source=GNW


The global telecom market is expected to grow from $2,642.14 billion in 2021 to $2,866.61 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3,818.36 billion in 2026 at a CAGR of 7.4%.

The telecom market consists of sales of telecom goods and services by entities (organizations, sole traders and partnerships) that provide communication hardware equipment for the transmission of voice, data, text and video. The telecoms market also includes manufacturers’ sales of goods such as GPS equipment, cellular telephones and switching equipment.

The main types of telecoms are wireless telecommunication carriers, wired telecommunication carriers, communications hardware, and satellite and telecommunication resellers.Wireless communication involves the transmission of information without the help of wires, cables or any other electrical conductors.

The various products used include telecom hardware and telecom services for household and commercial applications.

Asia Pacific was the largest region in the telecom market in 2021.North America was the second largest region accounting of the telecom market.

The regions covered in the telecom market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

IoT technology adoption by manufacturing and transportation services companies is driving the telecom market in the forecast period.IoT is a network of physical objects such as devices, vehicles, buildings and other items which are embedded with electronics, software, sensors and network connectivity enable these objects to collect and exchange data.

For instance, Microsoft and Rolls-Royce have announced a partnership centering on future Rolls-Royce intelligent engines, which will integrate Microsoft Suite into its service solutions to expand its digital capabilities.Smart Grid encompasses inter related technologies entering public use to manage electricity consumption.

Thus, IoT technology adoption is expected to expand the demand for telecom services.

The telecom industry involved in the provision of national networks across the world is increasingly targeted by hackers, exposing various security issues.The hackers’ main aim is to steal valuable information and use it in their own favor.

Despite various measures taken by many national governments resorting to stricter regulatory norms for foreign hardware manufacturers, issues concerning national security continue to rise.The extreme cases of the surveillance include banning the Huawei Company by the USA, Australia, New Zealand, Canada and the UK governments to participate in the provision of 5G network hardware due to security concerns, which stemmed from the Chinese government’s use of Huawei’s products to spy on people around the world.

Hence, these security issues leading to the ban of foreign manufacturers are expected to hinder the growth of the communications hardware in the forecast period, a major segment within the telecom market.

Internet TV is gaining acceptance and being preferred by customers in developed and developing markets.The traditional pay-TV industry has been facing severe competition from online video streaming service providers.

The low-cost video streaming service providers are threatening the pay-TV business model and forcing traditional pay-TV service providers to offer internet TV services to their subscribers. For example, in November 2021, fuboTV Inc., a sports-first live TV streaming platform, announced that it is acquiring France’s live TV streaming company, Molotov SAS. The acquisition aims at expanding its business globally and for launching its interactive sports and entertainment streaming platform on a global scale.

The countries covered in the telecom market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06246414/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001