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Wireless Telecommunication Carriers Market Expected to Achieve 6% CAGR by 2029: Growth Forecast Insights
Wireless Telecommunication Carriers Market
What Is the Expected CAGR for the Wireless Telecommunication Carriers Market Through 2025?
In the past few years, the wireless telecommunication carriers market has witnessed significant growth. The market size is projected to escalate from $912.6 billion in 2024 to $971.37 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The historic growth is due to factors such as the rise in mobile phone usage, increased data consumption, widespread adoption of smartphones, growing global connectivity demands, and increasing competition and market liberalization.
What's the Projected Size of the Global Wireless Telecommunication Carriers Market by 2029?
The market size for wireless telecommunication carriers is projected to witness substantial growth in the upcoming years, swelling to $1227.77 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. This predicted growth for the forecast period can be credited to factors like the rise of smart city infrastructure, growing cybersecurity issues, spectrum bidding and allocation, energy-efficient solutions, environmental sustainability, and upgrades in public safety communication systems. The projected period also underlines significant trends like Internet of Things (IoT) integration, network slicing for tailored services, the virtualization of network functions, inclusion of satellite for enhanced connectivity, automation in the network, and the deployment of AI in operations.
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Top Growth Drivers in the Wireless Telecommunication Carriers Industry: What's Accelerating the Market?
The surge in the utilization of handheld computing devices or mobile devices is anticipated to drive the expansion of the wireless telecommunication carrier market. Mobile devices that are compact enough to be handheld and operated easefully may also encompass voice communication features, onboard sensors for data capture, and built-in properties for data synchronization with remote sites. Playing an indispensable part, wireless telecommunication carriers offer the necessary infrastructure and services supporting these mobile devices to establish an internet connection and enable communication with various other devices. As per the UK-based financial conduct authority, Uswitch Limited, in February 2023, mobile connections increased by approximately 2.6 million or 3.8%, amounting to 71.8 million in total, commencing in 2022. The populace in the UK is forecasted to reach around 68.3 million by 2025, with almost 95% or roughly 65 million people owning a smartphone. Consequently, the growing utilization of mobile devices is fueling the expansion of the wireless telecommunication carrier market.
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What Trends Will Shape the Wireless Telecommunication Carriers Market Through 2029 and Beyond?
The most substantial upcoming transformation in the telecommunications sector is the rise of fifth-generation (5G) mobile networks. 5G is projected to have significantly higher speed compared to the current 4G network. Although not yet commercially accessible, this next-generation mobile network is anticipated to provide the necessary capacity to back the Internet Of Things (IoT) revolution. Another anticipated key feature of the 5G is its low latency.
What Are the Main Segments in the Wireless Telecommunication Carriers Market?
The wireless telecommunication carriers market covered in this report is segmented -
1) By Type: Cellular Or Mobile Telephone Services, Wireless Internet Services
2) By Product: Voice, Data
3) By Technology: 3G, 4G, 5G
4) By Application: Household, Commercial
Subsegments:
1) By Cellular Or Mobile Telephone Services: Postpaid Services, Prepaid Services, Mobile Virtual Network Operators (MVNOs)
2) By Wireless Internet Services: Mobile Broadband Services, Fixed Wireless Access Services, Data-Only Plans
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Which Top Companies are Driving Growth in the Wireless Telecommunication Carriers Market?
Major companies operating in the wireless telecommunication carriers market include China Mobile Ltd., Verizon Communications Inc., Comcast Corp, AT&T Inc., Deutsche Telekom AG, Reliance Industries Ltd., Nippon Telegraph And Telephone Corp, T-Mobile USA Inc., China Telecom Corp Ltd., SoftBank Group Corp., Vodafone, KDDI Corp, Orange SA, America Movil, Telefonica SA, Bharti Airtel Limited, Telecom Italia, KT Corporation, Telstra Corp Ltd., Etisalat, SK Telecom Co. Ltd., MTN Group Limited, Swisscom AG, Singtel Group, Telia Company AB, Telenor ASA, Axiata Group Bhd, Ooredoo Group, Turkcell Iletisim Hizmetleri A.S.
Which Regions Will Dominate the Wireless Telecommunication Carriers Market Through 2029?
Asia-Pacific was the largest region in the wireless telecommunication carriers market in 2024. North America was the second largest region in the wireless telecommunication carriers market. The regions covered in the wireless telecommunication carriers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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