Telecom services spending – additional information
The telecommunication services industry, which includes fixed-network services and mobile and wireless services, is a trillion-dollar market projected to grow in the next few years. Global telecommunication spending is forecast to amount to 1.44 trillion U.S. dollars by 2019. This projection shows a considerable increase from the 2014 figure, when global spending was estimated at 1.32 trillion U.S. dollars. The Asia Pacific region is the most valuable telecommunication services market worldwide. For 2019, the Asia Pacific region is expected to generate 441.5 billion U.S. dollars in revenues from telecom services. North America and Europe are also important telecom service markets worldwide.
Wireless telecom services account for the majority of the spending on telecommunication services. By 2018, wireless telecommunication services are expected to generate around 887.4 billion U.S. dollars in revenues by 2018. Fixed telecommunication services are forecast to amount to around 525 billion U.S. dollars in revenues in 2019.
The industry is dominated by multinational telecommunication service companies. The Dallas-based AT&T is a global leader, with a brand value of 107 billion U.S. dollars in 2016. Verizon, also an American giant, is the second biggest telecom service provider. In 2016, the company’s value was at 93 billion U.S. dollars. China Mobile, the British telecom company Vodafone, and Deutsche Telekom are also amongst the leading telecom brands worldwide.