ALBANY, N.Y, Aug. 5, 2020 /PRNewswire/ -- The telecommunication sector has observed sweeping growth over the years as the number of smartphone users has increased manifold and novel connectivity-enhancing technologies have taken a front seat. These aspects have the potential of bringing exponential growth for the telecom tower market during the forecast period.
The TMR analysts, considering the growing influence of telecom towers in the telecommunication sector, predict the global telecom tower market to expand at a CAGR of ~5% throughout the forecast period of 2020-2030. The analysts also expect the global telecom tower market to attain a valuation of US$ 240.6 bn by 2030.
The penetration of telecom towers in rural areas, especially across developing economies, may bring tremendous growth opportunities for the telecom tower market. The growing influence of technology like artificial intelligence (AI) in the telecommunication sector may also add a Midas touch to the growth of the telecom tower market.
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Telecom Tower Market: From Experts' Prism
The analysts at Transparency Market Research credit the ballooning telecommunication sector as a prime factor of growth for the telecom tower market. The analysts also shed light on the advent of next-gen data networks such as 3G, 4G, and 5G and highlight their importance in the growth of the telecom tower market.
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Telecom Tower Market: Key Findings
- The lattice towers segment dominated the telecom tower market in 2019 and is expected to continue the same run across the forecast period of 2020-2030
- Inculcation of technologies like AI and the Internet of Things (IoT) to boost the growth of telecom tower market
- Asia Pacific to emerge as the most profitable region for the telecom tower market
- Installation of ground mounted telecom towers to gain considerable traction in rural areas
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Telecom Tower Market: Growth Triggers
Governments of different countries are focusing largely on the development of telecom infrastructure through easy regulations and quick permissions to set new telecom towers, thus leading to the growth of the telecom tower market. Goa, a state in India, recently announced its plans of allowing the installation of more telecom towers to improve connectivity. The Chief Minister of Goa made the announcement recently. Such developments may serve as robust growth pillars for the telecom tower market.
- Zero-harm trends and zero-diesel mechanisms are leading the telecom tower market toward a green and clean future, thus bringing great growth opportunities
- Spike in urbanization and the need for good connectivity in rural areas is creating waves of growth opportunities for the telecom tower market
- Cloud computing and 5G technology are bringing good prospects of growth for the telecom tower market
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How 'Data is the New Oil' Statement Apt for Telecom Tower Market?
Data is indeed the new oil across the telecom sector. The advent of the COVID-19 outbreak has led to an increase in video conferencing and data exchange activities across the globe. This pandemic has highlighted the elevating need for robust telecom infrastructure and will further increase the growth rate of the telecom tower market. Ballooning investments in the telecom sector and the transition from 4G to 5G may bring good growth for the telecom tower market.
Significant investments in the telecom sector are bringing great growth opportunities for the telecom tower market. The growing influence of telecom towers in developing countries may bring efficient growth for the telecom tower market. Salasar recently bagged a US$ 2.43 mn contract to supply 189 telecom towers to Nigeria. This development shows how developed countries are aiding in increasing the growth rate of the telecom tower market.
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Telecom Tower Market: Segmentation
- Guyed Towers
- Monopole Towers
- Stealth Towers
- Lattice Towers
- Others (including Camouflage Towers and Mobile Towers)
- Telecom Operator Owned/MNO
- Joint Venture /ESCO
- Ground Mounted
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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