U.S. Telecom Services Market Size & Outlook, 2023-2030
U.S. telecom services market, 2018-2030 (US$B)
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U.S. telecom services market highlights
- The U.S. telecom services market generated a revenue of USD 468.1 billion in 2023 and is expected to reach USD 725.7 billion by 2030.
- The U.S. market is expected to grow at a CAGR of 6.5% from 2024 to 2030.
- In terms of segment, mobile data services was the largest revenue generating service type in 2023.
- Mobile Data Services is the most lucrative service type segment registering the fastest growth during the forecast period.
Telecom services market data book summary
| Market revenue in 2023 | USD 468.1 billion |
| Market revenue in 2030 | USD 725.7 billion |
| Growth rate | 6.5% (CAGR from 2023 to 2030) |
| Largest segment | Mobile data services |
| Fastest growing segment | Mobile Data Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Fixed Voice Services, Fixed Internet Access Services, Mobile Voice Services, Mobile Data Services, Pay TV Services, Machine-to-Machine (Mobile IoT) Services |
| Key market players worldwide | AT&T, Verizon Communications Inc, Nippon Telegraph & Telephone Corp, China Mobile, Deutsche Telekom AG, SoftBank Group Corp, Telefonica SA, Vodafone Group PLC, KT Corp ADR, Reliance Inc, KDDI Corp, Orange SA, BT Group PLC, Comcast Corp Class A |
Other key industry trends
- In terms of revenue, U.S. accounted for 24.8% of the global telecom services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. telecom services market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 725.7 billion by 2030.
Mobile data services was the largest segment with a revenue share of 33.52% in 2023. Horizon Databook has segmented the U.S. telecom services market based on fixed voice services, fixed internet access services, mobile voice services, mobile data services, pay tv services, machine-to-machine (mobile iot) services covering the revenue growth of each sub-segment from 2018 to 2030.
In the U.S., the launch of 5G services has opened access for people to high-speed internet. The growing adoption of 5G technology in the manufacturing industry is particularly anticipated to contribute to the growth of the market over the forecast period.
According to the 2021 Broadband Capex Report by USTelecom, at USD 86 billion in capital expenditures for communications infrastructure, investments made by the broadband industry in the U.S. marked a 20-year high in 2021.
These investments made broadband networks in the U.S. faster and widely available across the country. All the aforementioned factors are anticipated to propel the growth of the North America telecom services market over the forecast period.
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Telecom Services Market Scope
Telecom Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. telecom services market size, by service type, 2018-2030 (US$B)
U.S. Telecom Services Market Outlook Share, 2023 & 2030 (US$B)
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