Global Telecom Market is projected to display significant growth in the near future. Major factors such as technological advancement, strong competition, and increasing investment in new telecom technologies like satellite and wireless communication can propel the market. Increasing installation of intelligent transportation systems (ITS) is also expected to boost the market.
Major features such as cloud computing and development of 3G and 4G cellular network are major driving factors for the market. Rising demand for highspeed Internet and affordability of many services like e-learning, e-commerce, e-agriculture, and others are likely to have a positive impact on the market. However, high charges of value-added services may hamper the growth of the market. Additionally, strict government guidelines and maintaining security is also considered a major task.
Several telecommunication products and services have increased the use of Internet of Things (IoT), a trend that has emerged as a prominent driving factor for the market. Growing use of tablets, smartphones, smart watches, smart monitoring devices, and smart meters around the world has been noted of late. Smart devices like smart sensors and smart meters are extensively required for the development of smart cities. Additionally, wide acceptance of IoT has inspired implementation of smart communicating devices into several home appliances including music systems, refrigerators, and air conditioners.
Deployment of ITS services will help operators analyze and reduce impact of traffic. It will enable more visibility and enhance communication among travelers. For instance, recently, General Motors supported the ride-sharing service provider Lyft for developing IoT projects that could deliver efficient public traveling services.
Geographically, the market can be broadly classified into the Americas, Asia Pacific, Europe, and Rest of the World (RoW). The Americas have been holding a major share in the market due to developed infrastructure, increasing use of broadband and wireless services, and growing adoption of IoT products and services by several enterprises for improving business efficiency.
Asia Pacific has emerged as a prominent market in recent years. This growth is associated with concisely expanding population and increasing disposable income in developing countries such as China and India. China is considered to be one of the major consumers and producers of mobile phones and occupies a major market share at present due to healthy international trade.
The telecommunication industry in India has displayed rapid growth due to suitable government policies and rising usage of smartphones, 4G services, and high-speed broadband services. Additionally, the Government of India is planning a trial and auction for 5G spectrum for promoting machine-to-machine communications, IoT, instant high-definition video transfer, and a projected smart city plan.
Leading companies operating in the market include Deutsche Telekom; AT&T Inc; Vodafone; DirecTV Group; and Sprint Corporation.
Major companies are offering services such as storage area networks, storage products, storage networking services, enterprise networking services, 3G and 4G services, calling cards, broadband networks, entry level servers, and application networking services to strengthen their hold on the market.
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