Indian Telecom Service Market to Cross US$ 103.0 Billion by 2020

New York, January 23: Market Research Engine has published a new report titled as “Indian Telecom Services Market, By [Providers (Network Equipment Providers, End-user Equipment Providers), Technologies (4G, 3G, 2G, WiFi, WiMAX), Services, Regions, Verticals] – Trends & Forecast: 2015-2020”.

The Indian telecom service market is estimated to touch $103.90 billion by 2020 at a CAGR of 10.3% during the period from 2015 to 2020.

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The telecommunication services are registered as the essential key elements for the economic growth across the world. The Indian telecom services market has recorded exponential growth in the past few years. As a result, the market has emerged as a second largest market in the world.

The Indian telecom service market is estimated to touch $103.90 billion by 2020 at a CAGR of 10.3% during the period from 2015 to 2020. The penetration of telecom services in all the verticals has been increasing and enterprises are looking for data center and cloud services. The adoption of the mobile services is evolving across the country and it is predicted that wireless service market is estimated to touch $39.02 billion by 2020. “The market is largely driven by the key verticals such as BFSI, IT/ITES, Retail, Government,”.

The telecom operators are launching new products, services, solutions and technologies into the market and few players have already launched new platforms for the application. Moreover, the content providers have been creating innovative applications for telecom services. The 4G technology has launched few players in the country in recent years, but according to our primary discussions with major players opined, “Within couple of years, most of the major telecom players will launch 4G technology”. The key players are aggressively acquiring and enhancing the partnership with equipment providers and software vendors to strengthen current offerings and capitalize new markets.

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Essential Key Takeaways:

• Indian telecom services market is estimated to reach a CAGR of 10.3% during the period 2015–2020.

• Wireless Services market is predicted to reach $39.02 billion by 2020 with a CAGR of 9.3%.

• 4G technology service is estimated to reach a CAGR of 26.6% during the period 2015–2020.

• BFSI and IT/ITES organizations are engaging more with the customers through mobile applications. BFSI segment is expected to reach $15.16 billion by 2020, at a CAGR of 6.6% from 2015 to 2020.

• Oil & Gas and others are recorded as emerging verticals in the upcoming years.

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