Telecom Tower Global Market Report 2024

The telecom tower market has grown rapidly in recent years. It will grow from $52.6 billion in 2023 to $59.41 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The historical period's growth can be ascribed to the rise in mobile data usage, the adoption of telecom infrastructure sharing practices, government initiatives, competition among carriers, and network densification, as well as urbanization and population growth.

The telecom tower market is expected to see rapid growth in the next few years. It will grow to $92.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The anticipated growth in the forecast period is linked to the expansion of edge computing, the development of IoT and smart city infrastructure, initiatives for rural connectivity, network densification for increased capacity, and the shift towards open RAN architecture. Key trends expected in the forecast period include the adoption of modular and flexible tower configurations, utilization of advanced materials and construction techniques, adherence to regulatory compliance and addressing public concerns, emphasis on aesthetic tower designs, and the deployment of microcell and small cell technologies.

The anticipated growth in the telecom tower market is expected to be propelled by the increased usage of mobile communication. Mobile communication encompasses technology that enables communication through mobile phones, portable smartphones, and tablet computers with individuals in various locations. Telecom towers, including mobile phone towers, are equipped with electronic devices and antennas that facilitate the transmission and reception of signals, enabling wireless communication for mobile phones over long distances. As of March 2023, the International Telecommunication Union reported that the percentage of the global male population owning mobile phones increased to 79% in 2022, marking a 5% rise from 74% in 2021. This upsurge in mobile communication usage serves as a driving force for the growth of the telecom tower market.

The growth of the telecom tower market is expected to be driven by increasing government initiatives in the telecommunications sector. Government initiatives in this sector encompass policies, programs, and actions implemented by governments to regulate, support, and foster the development of the telecommunications industry. These initiatives play a crucial role in shaping the regulatory, economic, and technological landscape within which telecom towers operate. For example, in 2021, The National Telecommunications and Information Administration, a US-based government agency, disclosed that the Infrastructure Investment and Jobs Act allocates $65 billion for broadband, with $48.2 billion managed by the NTIA's newly established Internet Connectivity and Growth office. The NTIA is set to launch six broadband programs mandated by the IIJA, with the flagship initiative being the Broadband Equity, Access, and Deployment (BEAD) Program, supported by $42.45 billion. Consequently, the increasing government initiatives in the telecommunications sector are steering the growth of the telecom tower market.

Product innovation is a prominent trend gaining traction in the telecom tower market. Leading companies in this sector are strategically focusing on the development of novel solutions to maintain their market positions. For instance, in December 2022, KDDI Corporation, a telecommunications operator based in Japan, introduced a Starlink-powered mobile tower in Japan and subsequently expanded its network of remote buildings to 1,200. Starlink satellites, positioned over 65 times closer than traditional geostationary satellites in low earth orbit (LEO) at an altitude of 550km, aim to deliver more reliable Internet broadband service in remote locations.

Major companies in the telecom tower market are undertaking tower upgrades to drive market revenues. The upgrading of telecom towers involves enhancing or improving the existing infrastructure, technology, or capabilities of these structures to meet evolving demands, standards, or technological advancements in the telecommunications sector. For example, in March 2021, Xplore completed nearly 300 new and upgraded towers with the goal of providing faster and more reliable internet to rural Canadians. The company plans to expand its fiber internet offerings in Quebec, Ontario, Manitoba, Alberta, and Atlantic Canada.

In June 2021, American Tower Corporation, a US-based real estate investment trust specializing in wireless and broadcast communications infrastructure, acquired Telxius Towers for $9.4 billion. This acquisition positions American Tower to expand its European business and complements its existing Latin American portfolio, fostering strong long-term organic growth across both regions. Telxius Towers, based in Spain, is engaged in the telecommunications towers business.

Major companies operating in the telecom tower market report are China Tower Co. Ltd., American Tower Corp., Indus Tower Ltd., Crown Castle International Corp., SBA Communication Corp., AT&T Inc., Bharti Infratel Ltd., Helios Towers Africa, Cellnex Telecom SA, T-Mobile US Inc., GTL Infrastructure, Phoenix Tower International, IHS Towers, Telstra Corp. Ltd., Telesites S.A.B de C.V., Verizon Communications Inc., Viom Networks, edotco Group, Tower Bersama Infrastructure, Grupo TorreSur, China Energy Engineering Corporation Limited, United States Cellular Corporation, Vertical Bridge Holdings LLC, InSite Wireless Group LLC, Global Tower Partners, Lendlease Towers, Frontier Tower Solutions, Telxius Towers, Wireless Infrastructure Group, Eaton Towers.

North America was the largest region in the telecom tower market in 2023. The regions covered in the telecom tower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the telecom tower market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of telecom towers include lattice towers, guyed towers, monopole towers, stealth towers, and others. Lattice towers are designed in segments and are freestanding, featuring rectangular or triangular base steel lattices. This design allows for the mounting of a significant number of panel or dish antennas, providing stability and flexibility compared to other types of cell towers. These towers are powered by both renewable and non-renewable fuel sources and can be installed on rooftops or as ground-based facilities. They are typically owned by operators, joint ventures, private entities, or captive-owned by mobile network operators (MNOs).

The telecom towers market research report provides telecom towers market statistics, including the telecom towers industry global market size, regional shares, competitors with a telecom towers market share, detailed telecom towers market segments, market trends, and opportunities, and any further data you may need to thrive in the telecom towers industry. This telecom towers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The telecom tower market consists of revenues earned by entities by providing telecom services such as fixed-network services and mobile services, voice, data, internet, and cloud services. The market value includes the value of related goods sold by the service provider or included within the service offering. The telecom tower market also includes sales of tubular towers, angular towers, and rooftop towers which are used in providing telecom tower services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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