PUBLISHER: MarketLine | PRODUCT CODE: 1554046
PUBLISHER: MarketLine | PRODUCT CODE: 1554046
Global Telecommunication Services industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume , and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The telecommunication services market is defined as the total volume and value of both the fixed line and the wireless telecommunications market. The market volume here is defined as the number of fixed-line and wireless subscriptions.
The fixed-line telecommunications market is valued as the revenues obtained by operators for voice telephony and internet fixed lines (wirelines), rather than wireless systems. Only revenues from end-users are included, with revenues from other operators, as in wholesale transactions, excluded. This market consists of voice telephony segments circuit-switched and VoIP (packet-switched voice subscriptions); and narrowband (transmission speed < 128 Kbps) and broadband (transmission speed > 128 Kbps) internet segments. The volume figures are defined as fixed-line subscriptions to each of these services.
The wireless telecommunications services market includes cellular (mobile) phones, pagers, and any other wireless or cellular telecommunication service. The market values are in terms of revenues, based on payments to operators of all these services for subscriptions and usage. The market volumes are in terms of the total number of subscribers for voice, messaging, and data services.
All market data and forecasts are adjusted for inflation and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates.
The global telecommunication services market recorded revenues of $1,415.6 billion in 2023, representing a compound annual growth rate (CAGR) of 1.3% between 2018 and 2023.
Market consumption volume increased with a CAGR of 3.3% between 2018 and 2023, reaching a total of 9,942.9 million subscriptions in 2023.
The growth in the market is attributed to the increase in mobile penetration. According to the World Bank, mobile penetration in the US stood at 111.5 per 100 people in 2023, an increase of 1.2% from the previous year.