The importance of the telecommunications industry to global growth, prosperity, and innovation cannot be overstated. During the coronavirus (COVID-19) pandemic, this has become even more apparent. Travel restrictions, working from home (WFH) arrangements, and limitations on gatherings mean that telecommunications systems have stepped in to replace important face-to-face interactions. The telecommunications sector is accommodating the rapid shift in working arrangements, helping businesses to stay in operation and communities connected in unprecedented conditions.
Almost every industry needs to transmit data, signals, and messages through secure and reliable means. The pace of innovation and development in a country or region is often tied to the health of the telecommunications system. While the pandemic’s long-term effects on how we work and communicate are not clear, access to a stable telecommunications sector remains vital to full economic participation.
The essential nature of the telecommunications sector insulated it somewhat from the effects of the global coronavirus (COVID-19) pandemic. Some revenue models were less successful, and global spending on telecom services contracted slightly from 2019 to 2020, likely due to a reduction in non-essential spending by business and private customers. Spending is expected to increase in each year moving towards 2024, as enterprises resume normal activities and the economic recovery begins.
Global telecommunications industry: financial insightMobile communications are a key segment of the telecommunications industry. Whether it is the latest mobile broadband standards such as 5G, advancements in smartphone technology, or the rollout of mobile infrastructure, mobile and wireless have a central role in telecommunications.
While wireless continues to become more significant, fixed connections remain a vital service. The number of fixed-broadband continues to grow, adding 75 million users from 2018 to 2019.
5G is the primary focus for many sectors of the telecoms industry. Spectrum auctions are either underway or have already been finalized in many markets, 5G-enabled devices are widely available and making their way into the hands of consumers, and businesses are exploring ways to make to most of the new broadband standard in the coming years. 5G will open new opportunities for several industries and use cases.
Economic contribution of the 5G value chainThe telecommunications industry is made up of a mix of large and small players across the world. While AT&T generates more revenue than any other operator, with 171.76 billion U.S. dollars, the total value of China Telecom’s asset base is significantly larger.
Aside from services, telecommunications infrastructure and equipment are an essential part of the telecommunications market. Key players in this space include Huawei, Cisco Systems, Fujitsu, Nokia, and Qualcomm.
The telecommunications industry is truly global, with a presence on every continent on earth, including remote corners of Antarctica. As standards and technology improve across the sector, our ability to stay connected regardless of our physical location is only set to improve. Network expansion and affordable devices are improving opportunities to connect in remote areas across Africa, opening up new opportunities for economic inclusion.
Mobile telecom services in AfricaThe telecommunications sector covers the companies and regulatory authorities that provide the services and infrastructure required to transmit signals, messages, and data. Primarily, this includes fixed-line and mobile internet and telephony services.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 11:30am - 10pm (IST)
Mon - Fri, 9:30am - 5:30pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
