Broadband Demand Fuels Telecom Industry Growth

MOUNTAIN LAKES, NJ - The global telecommunications industry continues to expand, fueled by consumer and business spending for wireless services, according to a new market analysis report from The Insight Research Corporation. Worldwide telecom services revenue is expected to grow from $2.1 trillion in 2012 to $2.7 trillion in 2017, an average annual growth rate of 5.3 percent.

Wireless subscriber growth, particularly in Asia and other emerging markets, will raise wireless revenues by 64 percent from current levels, while wireline revenues show only modest growth. Nearly all the growth in both sectors is expected to occur in broadband services, with wireless 3G and 4G broadband services projected to grow at a compounded rate of 24 percent over the forecast period and wireline broadband services projected to grow at a 13 percent compounded rate over the same period.

"Despite global economic uncertainty, the telecommunications industry is showing strong revenue growth, which is being driven by consumer Internet usage and business mobility solutions. These are enabling new applications," says Fran Caulfield, research director for Insight Research. "Even amidst so much economic uncertainty, the fact remains that telecommunications is a key factor in economic growth. Telecommunications facilitates socioeconomic advancement and is a critical utility for economic development, much like water and energy," Caulfield adds.

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