Telecom Services Market To Reach $2,874.76 Billion By 2030

Telecom Services Market Growth & Trends

The global telecom services market size is expected to reach USD 2,874.76 billion in 2030 and is projected to grow at a CAGR of 6.5% from 2025 to 2030. Increased spending on next-generation wireless communication infrastructures due to the shift in customer preferences toward the 5G network and cloud-based technology is primarily driving the demand for telecom services. Furthermore, soaring demand for high-speed data connectivity, the rapid spread of digitalization worldwide, and the explosion of consumer-generated multimedia content via Over-The-Top (OTT) applications are some of the other key factors that are expected to significantly contribute to the industry growth.

With the plurality of telecom services, networks, and providers, the sector has emerged as one of the acute components essential for global socio-economic development. The rapid adoption of smartphone devices is another dynamic that has majorly contributed to the growth of the global telecom industry and has manifested in the businesses of telecom companies. The migration of cellular devices from feature phones to 5G-enabled smartphones has generated a massive demand for high bandwidth connectivity, improved voice services, and other value-added services, thereby fueling the market growth over the forecast period.

Network Functions Virtualization (NFV) and Software-Defined Networking (SDN) are the telecom network architectures that provide wider and improved connectivity at reduced infrastructure costs. These architectures based on network abstraction processes are envisioned to transform the global communication industry over the coming years. While NFV allows network slicing to offer customized solutions to varied industries, SDN enables the communication service providers to work in partnership with a broader ecosystem. These services are anticipated to offer efficient network connectivity and support the new era of 5G networks.

The outbreak of COVID-19 has compelled governments worldwide to announce national lockdowns in the initial days. The in-home isolation of the worldwide population has given a pathway to digital entertainment platforms. The growing demand for video streaming services on applications, such as Netflix, YouTube, and Amazon, has raised the usage of data services. Additionally, the shutdown of several businesses across the globe, coupled with a significant impact on the global economy, has hampered the overall market growth in 2020. However, with the significant investments made by federal governments across key countries, such as the U.S., China, India, the U.K., and Germany, to bring their economies’ growth on track, the market is expected to witness considerable growth from 2023 to 2030.

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Telecom Services Market Report Highlights

• The mobile data services segment led the market with the largest revenue share of 40.0% in 2024. The is owing to the rapidly growing usage of data services for multiple applications such as smartphones, OTT, cloud and augmented reality (AR) and virtual reality (VR)gaming, smart cities, and UHD video access, among others

• In the transmission segment, the wireless segment led the market with the largest revenue share of 22.1% in 2024. The significant growth is attributed to the augmenting demand for mobile services among consumers and businesses

• Asia Pacific dominated the telecom services market with the largest revenue share of 34.0% in 2024. This is mainly on the account of rapidly growing population, rising internet penetration rate, and significant adoption of smartphone users

• Several prominent players across the globe are aggressively investing in deploying next-generation 5G network infrastructure in order to capture a significant customer base and increase their overall sales and profitability.

Telecom Services Market Segmentation

Grand View Research has segmented the global telecom services market report based on service type, transmission, end use, and region:

Telecom Services Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Fixed Voice Services

• Fixed Internet Access Services

• Mobile Voice Services

• Mobile Data Services

• Pay TV Services

• Machine-to-machine (Mobile IoT) Services

Telecom Services Transmission Outlook (Revenue, USD Billion, 2018 - 2030)

• Wireline

• Wireless

Telecom Services End Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Consumer/Residential

• Business

  • IT & Telecom

  • Manufacturing

  • Healthcare

  • Retail

  • Media & Entertainment

  • Government & Defense

  • Education

  • BFSI

  • Energy and utilities

  • Transportation & Logistics

  • Travel & Hospitality

  • O&G and Mining

  • Others

Telecom Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Columbia

  • Peru

  • Chile

• MEA

List of Key Players in Telecom Services Market

• AT&T Inc.

• China Mobile Limited

• China Telecom Corporation Limited

• Deutsche Telekom AG

• Nippon Telegraph and Telephone Corporation

• SoftBank Corp.

• Orange S.A.

• Telefonica S.A.

• Verizon Communications Inc.

• Vodafone Group Plc

• KDDI Corporation