Press release
Global Wired Telecommunication Carriers Market Projected to Surpass $1230.86 Billion by 2029 with 3.7% Annual Growth
Wired Telecommunication Carriers Market Size
The surge in remote work is projected to propel the growth of the wired telecommunications carriers market. Factors contributing to this surge include increased flexibility, savings for both workers and employers, advancements in communication technology, and the necessity for a work-life balance. Remote work is a system where employees carry out their job functions away from a conventional office setting, frequently from home or any place with internet connectivity. Wired telecommunication carriers are frequently depended on for dependable, high-speed internet connections that enable smooth video calls, data sharing, and access to cloud tools for sustained productivity and effective interaction. For instance, as reported by Forbes Media LLC, an American media firm, in June 2023, in the US, 12.7% of the workforce will work from home in the year 2023, and an estimated 32.6 million people will be working remotely by 2025. Consequently, the escalating trend towards remote work is fueling the expansion of the wired telecommunications carriers market.
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What is the future CAGR of the wired telecommunication carriers market, and how will it impact industry expansion?
The market size for wired telecommunication carriers has been persistently expanding over the past few years. The growth is projected to escalate from $1024.19 billion in 2024 to $1065.85 billion in 2025, marking a compound annual growth rate (CAGR) of 4.1%. Elements contributing to the growth during the historic span include a heightened demand for professional services businesses, positive government policies, economical progression in developing markets, and a surge in investments.
In the coming years, the market size of wired telecommunication carriers is projected to experience consistent growth. By 2029, it is expected to have reached $1230.86 billion in size, demonstrating a compound annual growth rate (CAGR) of 3.7%. This anticipated growth is largely due to a surge in the tech sector, which is expected to boost wired telecommunication demand, as well as rising urbanization and increased investment. The forecast period is expected to see major trends such as the growing adoption of IoT telecommunications, DTH service providers implementing interactive TV to attract viewers, intensified use of fiber optic cables, and strategic mergers and acquisitions.
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What new trends are reshaping the wired telecommunication carriers market and its opportunities?
Firms in the wired telecommunications sector are expanding their service range beyond just fixed line and DSL internet services to offer extra features to their customers. These companies are transitioning to a multi-purpose model, incorporating services like internet broadband and satellite TV connections in their packages. As a result, customers who use their internet and voice telephony services are more inclined to subscribe to additional services like IPTV, video on demand, and pay TV. A case in point is AT&T's acquisition of DirecTV pay-TV services as a strategy to widen their service offering to clients.
Which key market segments comprise the wired telecommunication carriers market and drive its revenue growth?
The wired telecommunication carriers market covered in this report is segmented -
1) By Type: Broadband Internet Services, Fixed Telephony Services, Direct-To-Home(DTH) Services
2) By Subscription Type: Basic, Primium, Other Subscription Types
3) By Application: Household, Commercial
Subsegments:
1) By Broadband Internet Services: Digital Subscriber Line (DSL), Fiber Optic Broadband, Cable Broadband, Satellite Broadband
2) By Fixed Telephony Services: Landline Voice Services, VoIP (Voice over Internet Protocol) Services, ISDN (Integrated Services Digital Network) Services
3) By Direct-To-Home (DTH) Services: Standard Definition (SD) DTH Services, High Definition (HD) DTH Services, 4K/Ultra HD DTH Services
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What regions are at the forefront of wired telecommunication carriers market expansion?
North America was the largest region in wired telecommunication carriers market in 2024. Asia-Pacific was the second largest region in wired telecommunication carriers market. The regions covered in the wired telecommunication carriers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the wired telecommunication carriers market?
Major companies operating in the wired telecommunication carriers market include Verizon Communications Inc., Deutsche Telekom AG, Comcast Corporation, AT&T Inc, BT Group Plc., Nippon Telegraph & Telephone Corp, America Movil SAB de CV, China Telecom Corporation Limited, Vodafone Group, Orange SA, Bharti Airtel Ltd, GTL Infrastrtucture Ltd, Himachal Futuristic Communications Ltd., Indus Towers Ltd, Mahanagar Telephone Nigam Ltd. (MTNL), Reliance Jio Infocomm Ltd, Tata Communications Ltd, Tata Teleservices Maharashtra Ltd, Tejas Networks Ltd, Vodafone Idea Ltd, China Tower Corporation, Shanghai Oriental Pearl Group, China Unicom, China Satellite Communications, Telefonica SA, T-Mobile, Polkomtel, Beeline, MegaFon, Mobile TeleSystems, Tele2, Spectrum, Frontier, CenturyLink, Bell, Movistar, Telecentro, Supercanal, Claro Americas, Embratel, Intelig Telecom, Universo Online (UOL), Global Village Telecom, Emirates Integrated Telecommunications Company PJS, Etisalat, General Authority for Regulating the Telecommunica, NourNet, Sahara Net, Wafai Net, Saudi Telecom Company (STC), Mawarid Electronics LTD (MEL), Technology Solutions Services (TSS), Applied Technologies Company (Apptec), Backspace Technologies (Pty) Ltd, WISPA (Pty) Ltd, Woeke Communications CC, Siyaphambili Telecoms (Pty) Ltd, SMD Telecommunications (Pty) Ltd, Spectrum Communications (Pty) Ltd, Vlocity Communications (Pty) Ltd, Rain Group Holdings (RF) (Pty) Ltd, Business Communication Systems CC, ONENEBULA (Pty) Ltd
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What Is Covered In The Wired Telecommunication Carriers Global Market Report?
• Market Size Forecast: Examine the wired telecommunication carriers market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the wired telecommunication carriers market for a structured understanding.
• Key Players Overview: Analyze major players in the wired telecommunication carriers market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wired telecommunication carriers market.
• Segment Contributions: Evaluate how different segments drive overall growth in the wired telecommunication carriers market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wired telecommunication carriers market.
• Industry Challenges: Identify potential risks and obstacles affecting the wired telecommunication carriers market.
• Competitive Landscape: Review strategic developments in the wired telecommunication carriers market, including expansions, agreements, and new product launches.
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