Wireless Telecommunication Carriers Global Market Report 2024

The wireless telecommunication carriers market size has grown steadily in recent years. It will grow from $883.28 billion in 2023 to $919.23 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The expansion during the historical period can be ascribed to a rise in mobile phone adoption, an upsurge in data usage, widespread proliferation of smartphones, global connectivity demands, competition, and market liberalization.

The wireless telecommunication carriers market size is expected to see strong growth in the next few years. It will grow to $1170.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated expansion in the forecast period is linked to the development of smart cities, concerns regarding cybersecurity, spectrum auctions and allocation, energy efficiency, environmental sustainability, and advancements in public safety communications. Key trends expected in the forecast period encompass Internet of Things (IoT) connectivity, the implementation of network slicing for tailored services, virtualization of network functions, integration of satellites for connectivity, and the adoption of network automation and artificial intelligence for operational purposes.

The anticipated surge in the use of mobile devices is expected to drive the growth of the wireless telecommunication carriers market in the future. A mobile device, defined as a handheld computing device small enough to be operated in the hand and carried around, may include voice communication capabilities, on-board sensors for information capture, and built-in features for data synchronization with remote locations. Wireless telecommunication carriers play a vital role in the mobile device industry by providing the necessary infrastructure and services for mobile devices to connect to the internet and communicate with other devices. For instance, in February 2023, Uswitch Limited reported that the UK witnessed a 3.8% increase (approximately 2.6 million) in mobile connections from 2021 to 2022, reaching a total of 71.8 million connections. With the UK population expected to grow to 68.3 million by 2025, around 95% (approximately 65 million individuals) are projected to own a smartphone. Hence, the growing use of mobile devices is a key driver for the wireless telecommunication carriers market.

The expected rise in per capita disposable income is also set to fuel the growth of the wireless telecommunication carriers market. Per capita disposable income, measuring the amount of money an individual has after tax and other mandatory expenses, can boost corporate profits, leading to increased investment in the wireless telecommunication carriers market. In January 2022, the State Council of the People's Republic of China reported a 9.1% year-on-year increase in China's per capita disposable income, reaching 35,128 yuan (approximately $5,523) in 2021. Therefore, the growth of per capita disposable income contributes to the expansion of the wireless telecommunication carriers market.

The outbreak of the COVID-19 disease had a significant impact on the wireless telecommunication carriers market in 2020, acting as a restraint due to disruptions in supply chains, trade restrictions, and challenges faced by employees working from home amid infrastructure and communication issues caused by global lockdowns. COVID-19, identified in 2019 in Wuhan, Hubei province of China, led to economic decline and negative consequences for businesses in 2020 and 2021. Despite these challenges, it is expected that the wireless telecommunication carriers market will recover from the COVID-19-related setbacks throughout the forecast period, considering it as a 'black swan' event not indicative of ongoing market weaknesses or fundamental issues in the global economy.

The telecoms industry is on the brink of a significant transformation with the impending arrival of fifth-generation mobile networks, commonly known as 5G. 5G is anticipated to surpass the speed capabilities of the current 4G network. Although the commercial availability of the 5G network is pending, this next-generation mobile network is poised to provide the necessary capacity to fuel the Internet of Things (IoT) revolution. A crucial attribute expected from 5G is low latency.

Key players in the wireless telecommunication carriers market are actively engaged in the introduction of innovative software toolboxes to enhance real-time 5G experiences. These software toolboxes play a vital role in addressing delays and disruptions in mobile networks, facilitating the execution of time-critical use cases on a large scale. For example, in October 2021, Ericsson, a telecommunications company based in Sweden, unveiled Time-Critical Communication (TCC), a new software toolbox designed to ensure consistent low latency and high reliability in 5G networks. This technology aims to enhance user experiences in applications such as cloud gaming and augmented reality/virtual reality (AR/VR), while also opening avenues for new applications such as remote control, mobility automation, and industrial control. Ericsson's Critical IoT offering, deployable as a software upgrade on both public and private 5G networks across various frequency bands, exemplifies how wireless telecommunication providers embrace cutting-edge technology to elevate the quality of their services and meet the growing demand for cellular internet services.

In May 2023, Zeebu, a blockchain-based settlement platform headquartered in the United States, formed partnerships with four global telecom carriers - BBT Voice Limited, Broadband Telecom Inc., BridgeVoice Inc., and Novatel. This collaboration aims to extend Zeebu's solutions to millions of clients and enhance transactions within the global telecom carrier industry. BBT Voice Limited is a U.S.-based wireless telecommunications carrier, while Broadband Telecom Inc. operates as a U.S.-based wholesale Voice over Internet Protocol (VoIP) and global messaging service provider.

Major companies operating in the wireless telecommunication carriers market report are 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 İletişim Hizmetleri A.Ş. Asia-Pacific was the largest region in wireless telecommunication carriers market in 2023. North America was the second largest region in 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.

The primary categories of services provided by wireless telecommunication carriers are cellular/mobile telephone services and wireless internet services. Cellular/mobile telephone services involve a pre-cellular VHF radio system connected to the Public Switched Telephone Network. These services employ technologies such as 3G, 4G, and 5G, generating products such as voice and data, which find applications in both residential and commercial settings.


The wireless telecommunications carriers market research report is one of a series of new reports that provides wireless telecommunications carriers market statistics, including wireless telecommunications carriers industry global market size, regional shares, competitors with a wireless telecommunications carriers market share, detailed wireless telecommunications carriers market segments, market trends and opportunities, and any further data you may need to thrive in the wireless telecommunications carriers industry. This wireless telecommunications carrier’s market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the wireless telecommunication carriers market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The wireless telecommunications carriers market includes revenues earned by entities by providing telecommunications services such as operating and maintaining the switching and transmission facilities to provide telecommunications services via airwaves. The services provided by the companies in this industry include cellular phone services, wireless internet access, and wireless video. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The wireless telecommunications carriers market is segmented into cellular/mobile telephone services and wireless internet services.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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