Major companies in the wireless telecommunication carriers market include China Mobile, AT&T Inc., Verizon Communications, T-Mobile USA, Inc., Deutsche Telekom AG, Vodafone, America Movil, Telefonica SA, Orange SA and Nippon Telegraph And Telephone Corp.
The global wireless telecommunication carriers market is expected to grow from $793.27 billion in 2021 to $861.51 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1,149.74 billion in 2026 at a CAGR of 7.5%.
The wireless telecommunications carriers market consists of sales of telecommunications services and related goods by entities (organizations, sole traders and partnerships) that operate and maintain switching and transmission facilities to provide telecommunications services via airwaves. The services provided by the companies in this industry include cellular phone services, wireless internet access, and wireless video.
The main types of services in wireless telecommunications carriers are cellular/mobile telephone services and wireless internet services.A cellular/mobile telephone services is a pre-cellular VHF (very high frequency) radio system that linked to the Public Switched Telephone Network.
The technologies used in these services includes 3G, 4G and 5G and produces products such as voice and data. These are implemented in various areas such as household and commercial applications.
Asia Pacific was the largest region in wireless telecommunication carriers market in 2021.North America was the second largest region in wireless telecommunication carriers market.
The regions covered in the wireless telecommunication carriers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The number of people using mobile payments to pay for goods and services at the point of sale is expected to increase significantly.Particularly in the USA, mobile payment sales are expected to grow exponentially because of the growth in the number of overall users of the technology.
For instance, by the end of 2020, nearly 150 million (approximately 56%) of the consumer population of the US are using mobile payments for in-store payments.In Addition to this, worldwide mobile payment are also increasing.
For instance, according to a study by Boku Inc., a mobile payments company, by the end of 2020, there were over 2.8 billion mobile wallets in use and the number is projected to increase by nearly 74% to reach 4.8 billion mobile wallets in use by the end of 2025, which will account nearly 60% of the world’s population. Mobile wallets like Apple Pay, Android Pay and Samsung Pay are likely to become a standard feature on new smartphones, according to e-Marketer research. Increasingly, merchants are also likely to adopt point-of-sale systems that can accept mobile payments. To encourage and promote the use of m-payments, incentives like promotions and loyalty programs will be integrated to attract new users.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the wireless telecommunication carriers market in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the wireless telecommunication carriers market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.?
The biggest forthcoming change in the telecoms industry is the emergence of fifth-generation mobile networks (5G). 5G is expected to be much faster than the present 4G network. The 5G network is yet to be commercially available and this new generation mobile network is likely to provide the capacity needed to support the IoT (Internet Of Things) revolution. Low latency is another important feature expected from 5G.
In January 2020, Samsung Group, a South Korea-based electronics company that sells mobile devices announced the acquisition of TeleWorld Solutions, Inc. for an undisclosed amount. With the acquisition of TeleWorld Solutions, Inc., Samsung is aiming to address end-to-end network support needs and accelerate 5G rollouts in the USA. TeleWorld Solutions, Inc. is a Virginia-based telecommunications provider of wireless networking and consulting services.
The countries covered in the wireless telecommunication carriers market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
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