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Telecommunications

What is the telecommunications industry?

The telecommunications industry is one of the most extensive, high-value and time-honoured global economic segments. For example, in recent years, the segment has reached a market size of approximately $2.37 trillion. Furthermore, it is anticipated to develop at a CAGR of 6.2% in the upcoming years. Among the leading causes of its development is its high focus on installing diverse devices. For example, it has installed IOT devices surpassing 4 billion in recent years. Likewise, it is anticipated that the value of such devices will be 40.6 billion in the upcoming years. They aid in the telecoms sector, consuming up to 3.4 million petabytes (PB) of global data. These values are anticipated to reach 9.7 million PB in the upcoming years.

Is the industry extensive?

The industry is an international segment that comprises over 52,000 enterprises. They vary from enterprises related to the internet and mobile networks to media and computer ones. They employ more than 1.248 million specialists. It includes ones related to relevant industries. Among them are AV, media, entertainment, electronics, IT, chemical, and energy. The most extensive segments of the market encompass telecom equipment and services, as well as wireless communication.

Is the industry innovative?

The mentioned segments are also among the central drivers of the segment’s high focus on research and development. It is done through extensive projects and investments. The sector generally presents its latest novel solutions during events. It includes biannual and annual expos in diverse countries. They attract hundreds of thousands of attendees.