Despite the unsteady state of the domestic US economy, the worldwide telecommunications industry is expected to continue expanding over the next five years as continued spending by consumers and businesses for wireless services, especially in emerging markets, drives industry revenue growth, says a new market analysis report from The Insight Research Corporation.
According to the new industry market study, telecommunications services revenues on a worldwide basis are expected to grow at a compounded rate of nine percent over the next five years, bringing the sum spent globally on telecommunications to $25.6 trillion by 2016.
“The 2011 Telecommunications Industry Review: An Anthology of Market Facts and Forecasts” notes that wireless makes the strongest showing while wireline follows a distant second. Nearly all of the growth in both sectors is expected to occur in broadband services, with wireless broadband service revenues expected to grow at a compounded rate of more than 45 percent over the forecast period, while wireline broadband services grow at almost a 14 percent compounded rate over the same forecast horizon.
“While there are indications that the worst of the economic turmoil on a global basis is past, job creation in the US still remains elusive, and is slowing domestic recovery. Yet even amidst the uncertainty, we expect the telecommunications industry to continue growing,” says Insight president Robert Rosenberg.
“Telecom is as necessary to development as roads and bridges, so we expect it to fare much better than other economic segments that may take longer to return to normalcy,” Rosenberg concluded.
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Worldwide Telecommunications Industry Revenue to Top $25.6 Trillion Over Five Years, says Insight Research
Source: Insight Research Corporation
Date: 02/03/2011
