The Business Research Company’s Global Wireless Telecommunication Carriers Industry Report 2020-30: Covid 19 Impact And Recovery
LONDON, GREATER LONDON, UK, October 15, 2020 /EINPresswire.com/ — The biggest forthcoming change in the telecoms industry is the emergence of fifth-generation mobile networks (5G). 5G is expected to be much quicker than the present 4G. It will be some years before this technology becomes commercially available. The new generation mobile network is likely to provide the capacity needed to support the IoT (Internet Of Things) revolution. Low latency is another important feature expected from 5G.
The global wireless telecommunication carriers market size is expected to decline from $759 billion in 2019 to $736.1 billion in 2020 at a compound annual growth rate (CAGR) of -3.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The global wireless telecommunication carriers’ market size is then expected to recover and grow at a CAGR of 6% from 2021 and reach $878.6 billion in 2023.
The wireless telecommunications carriers market consists of sales of telecommunications services and related goods via airwaves by entities (organizations, sole traders and partnerships) that operate and maintain switching and transmission facilities to provide telecommunications services via airwaves. The services provided by the companies in this industry include cellular phone services, wireless internet access, and wireless video.
The global wireless telecommunication carriers industry is segmented by type into cellular/mobile telephone services and wireless internet services. By application, the market is segmented into household and commercial. By product, it is segmented into voice and data. By technology, it is segmented into 3G, 4G, and 5G.
North America was the largest region in the global wireless telecommunication carriers’ market, accounting for 41% of the total share in 2019. Asia Pacific was the second largest region accounting for 38% of the global wireless telecommunication carriers’ industry. Africa was the smallest region in the global wireless telecommunication carriers’ market.
Major players in the global wireless telecommunication carriers’ market are AT&T, China Mobile, Verizon Communications, Deutsche Telekom AG, and Telefonica SA.
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Source: EIN Presswire