The global
telecommunications industry continues to expand as spending by consumers and
businesses for wireless services fuels industry revenue growth, according to
The Insight Research Corporation.
According to
the new industry market study, telecommunications services revenue on a
worldwide basis will grow from $2.1 trillion in 2012 to $2.7 trillion in 2017
at a combined average growth rate of 5.3 percent.
The 2012
Telecommunications Industry Review: An Anthology of Market Facts and Forecasts
notes that wireless subscriber growth, particularly in Asia and other emerging
markets, will raise wireless revenues by 64 percent from current levels, while
wireline revenues show only modest growth.
Nearly all of
the growth in both sectors is expected to occur in broadband services, with
wireless 3G and 4G broadband services projected to grow at a compounded rate of
24 percent over the forecast period and wireline broadband services projected
to grow at a 13 percent compounded rate over the same forecast horizon,
according to the report.
“Despite
global economic uncertainty, the telecommunications industry is showing strong
revenue growth, which is being driven by consumer Internet usage and business
mobility solutions. These are enabling new applications. Even amidst so
much economic uncertainty, the fact remains that telecommunications is a key
factor in economic growth. Telecommunications facilitates socio-economic
advancement and is a critical utility for economic development, much like water
and energy,” said Fran Caulfield, research director for Insight Research.
By
TelecomLead.com Team
editor@telecomlead.com
