Worldwide Telecommunications Industry Revenue to hit $2.4 Trillion in 2020, says Insight Research

Mar 10, 2015, 07:00 ET from Insight Research

DURANGO, Colo., March 10, 2015 /PRNewswire/ -- Insight Research projects that telecommunications services revenue worldwide will grow from $2.2 trillion in 2015 to $2.4 trillion in 2019. Insight's newly-released market analysis report, "The 2015 Telecommunications Industry Review: An Anthology of Market Facts and Forecasts" includes regional and service forecasts, assessment of key growth drivers, analysis of industry trends, network infrastructure and access technologies, future services, OSS/BSS and capex spending, and enterprise telecom markets.

Wireless subscriber growth compounded with rising smartphone and tablet traffic will raise global wireless revenues by 19 percent from current levels; while wireline revenues will rise only four percent as voice calls decline and users switch to mobile solutions.

"The path to sustained growth will be bumpy, fluctuating around a modest underlying rate for the next few years. The upturn in the major non-Organization for Economic Cooperation and Development (OECD) countries the US, European Union (EU), Japan, and 27 other developed countries especially in Asia and particularly in China, is now a well-established source of strength for the global economy," said Bob Rosenberg, President of Insight Research.

"Consumer demand for the latest wireless devices and greater access bandwidth remains a key driver of telecommunications services growth, and the shift to Cloud-based solutions is starting to put new demands on network utilization," Rosenberg concluded.

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SOURCE Insight Research