Telecommunications Industry Revenue to Reach $2.7 Trillion by 2017

Monday, 16 January 2012 16:42

Further to our report stating that Gartner expected a rise in the telecoms sector another independent body has stated that the industry is set to grow even further.

Market analysts, The Insight Research Corporation states that the global telecommunications industry will continue to expand as spending by consumers and businesses for wireless services fuels industry revenue growth. According to the market analysts services revenue on a worldwide basis in the telecommunications sector will grow from $2.1 trillion in 2012 to $2.7 trillion in 2017 at a combined average growth rate of 5.3 percent.

In our previous post, Gartner stated this telecommunications industry growth figure would be $3.8 trillion in 2012, a 3.7% rise from 2011 when spending totalled $3.7 trillion which had in turn risen by 6.9% from 2010.

The impact behind this growth by Insight Research is highlighted as wireless revenues in Asia, business telephony throughout the world, as well as 3G and 4G growth.

"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 socio-economic advancement and is a critical utility for economic development, much like water and energy," Caulfield concluded.

Either way, this is very good news for the Telecommunications industry as well as business VoIP and and we look forward to seeing sustained growth throughout the sector and the globe.