07-Aug-2021 | Zion Market Research
Some of the key players operating in the wireless telecommunication services market are AT&T, Inc., China Mobile Communications Corporation, Verizon Communications Inc. , Vodafone Group PLC, The Nippon Telegraph and Telephone Corporation, Telefónic, América Móvil, Deutsche Telekom AG, China Telecommunications Corporation , and SoftBank Group Corp, among others. These players are set to bolster the development of the global wireless telecommunication services market. According to analysts at Zion Market Research, the global wireless telecommunication services market accounted for 879.8 USD Billion in 2020 and is expected to reach 1268 USD Billion by 2028, growing at a CAGR of 4.7 % from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Wireless Telecommunication Services Market by Service Type (Voice Services, Data Services, Texting Services and Others), by Application (Smart Homes, Medical & Healthcare, Hospitality, Manufacturing, Automotive & Transportation, Retail (Supply Chain), Agriculture and Military & Defense): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Increased Rate of Adoption of The Solutions and The Services Along with The Wide Usage of The Smartphones to Spur Market Growth
There are various factors leading to the growth of the wireless telecommunication services market. As the organizations are making use of the digital solutions which are accurate and effective. The innovations that are made through the partnerships among different sectors propel the growth of the market in the coming years. In the recent years, there has been an increased rate of adoption of the solutions and the services that are based on the advanced technology by the organizations and they are choosing IoT in order to make their business operations easy and efficient. Increasing adoption of the apps along with the wide usage of the smartphones will also contribute to the market revenue. The trend of using landlines has almost vanished which boosted the global wireless communication market.
Technological Advancement and Presence of Numerous Market Players Support North America Dominance
North America is expected to be the fastest growing region for the wireless telecommunication services market. The presence of a large number of market players is also going to contribute significantly towards the growth of the wireless telecommunication services market in the region. North America is a technologically advanced region, which means the adoption rate of any new technology is very high in the region. Though the majority of the organizations have already recognised the need for the wireless telecommunication services market and are using the same as well. Asia pacific is also expected to be growing significantly for the wireless telecommunication services market. The developing region has witnessed a rise in the usage of technology. As the population here becomes more comfortable with adoption of the smart devices, the demand for wireless telecommunication services will be boosted over the next few years. Also, awareness of the government towards the technology advancement will add to the growth of the market in the region. The global wireless telecommunication services market is segmented as follows:
Browse the full “Wireless Telecommunication Services Market by Service Type (Voice Services, Data Services, Texting Services and Others), by Application (Smart Homes, Medical & Healthcare, Hospitality, Manufacturing, Automotive & Transportation, Retail (Supply Chain), Agriculture and Military & Defence): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/wireless-telecommunication-services-market
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