Pune, India, July 20, 2022 (GLOBE NEWSWIRE) -- The global telecommunication market size is likely to gain momentum from the ever-increasing upgradation and adoption of state-of-the-art technologies, such as NB-IoT, IoT, 5G, and many more. These help people to efficiently transfer video, audio, and texts from any part of the world. This information is given by Fortune Business Insights™ The report further states that the field of telecommunication evolved and became a dynamic sector since the past few years. It therefore, plays a vital role in the economic and social development of the world.
- August 2019: A&T announced its partnership with Dell Technologies to develop an open infrastructure technology. It is meant for the next-generation network edge for enabling cloud-based 5G technology.
- November 2019: Nokia and A&T unveiled an innovative studio for supporting the usage of next-generation and present Internet of Things (IoT) solutions.
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Drivers & Restraints-
Increasing Population & Modernization of Societies to Drive Growth
Since the past few decades, the telecommunication industry went through drastic transformation ranging from telephonic voice calls, internet calls, and mobile data calls to TV broadcasting services, internet, and texts. As the population is rising worldwide, societies are becoming modernized at a fast pace. Hence, the usage of smartphone is also upsurging. Besides, the defense sector is becoming increasingly dependent upon these products and services owing to provide enhanced and better communication. More and more bandwidth operators are refining their services and price plans because of the rising demand for network and smart devices. These strategies are aiding them in gaining consumer satisfaction. However, the persistent technological evolution may hamper the telecommunication market growth during the forecast period.
Rising Digitization Amid Pandemic to Propel Growth
The COVID-19 pandemic has positively impacted the Telecommunication Market growth due to rising digitization in several industries. Also, leading companies from various sectors have adopted recent technologies to simplify their business operations and ease the work process. Furthermore, the companies implemented recent technologies to adopt work from home/remote work culture. These factors bolstered the market growth and expansion during the pandemic.
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Highlights of the Report-
- Extensive analysis of the telecommunication market trends.
- Up-to-date study of the technological improvements.
- Profiles of the key companies present in the market.
- Overview of the growth drivers and barriers.
- Well-defined growth map and competitive landscape
- Clear understanding of significant product segments
Increasing Adoption of AI & Machine Learning to Favor Growth in North America
Based on geography, the market is grouped into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. Out of these, in Asia Pacific, developing nations, such as China and India are the major contributors to the market growth. These countries house a large number of population, which, in turn, is surging the demand for network.
In North America, the ongoing technological development would propel growth of the market. Also, the region possesses several industry giants. These companies are optimizing their network investments to gain larger consumer base. Coupled with this, the rising utilization of machine learning and artificial intelligence (AI), as well as deployment of IoT would contribute to growth in this region.
Latin America is likely to exhibit considerable telecommunication market share in the coming years backed by the rising adoption of smartphones, high-speed broadband services, and 4G network. Many service providers present in this region are providing IoT and cloud solutions.
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Key Service Providers Focus on Partnerships to Broaden their Portfolio
Reputed companies are striving to gain the maximum telecommunication market share by adopting the strategy of collaborations and partnerships. They are able to achieve larger consumer bases and widen their product and service portfolio through this strategy. Below are two of the latest key industry developments:
List of Key Players Profiled in the Telecommunication Market Research Report:
- China Mobile Ltd.
- Verizon Communications
- Vodaphone Group
- SoftBank Corp.
- Time Warner Cable Inc.
- America Movil
- Telefonica Telstra
- Nippon Telegraph & Tel
- Deutsche Telekom
- T-Mobile US Inc.
- DirecTV Group
- Other key market players
Major Points from TOC:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Telecommunication Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
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