Wireless Industry Market Research Reports, Industry Analysis and Trends
Wireless industry comprises companies that offer wireless telecom and internet services. The wireless industry is growing rapidly, not just in telecommunication industry but also consumer electronics and industrial equipments are embedded with wireless technology. The wireless technology is getting an increased demand in telecom sector with advent in technology in smartphones, tablets and ubiquitous network playing an important role in day-to-day life, wireless services are expanding to wider regions in great pace. The exponential development of computer and mobile devices have had a rapid impact in developing stronger and more efficient wireless services. The wireless technology offering companies maintain transmission facilities to provide direct communications through radio waves using cellular network's towers; services such as voice calls, internet, live video streaming etc.
The telecom industry is generating high amounts of revenue with consumers and businesses allocating a substantial size of budget for networking services, especially in wireless technology that has many benefits ranging from mobility to omnipresence of telecommunication in developed and developing nations. The digital revolution has been an integral driving force for telecom sector to constantly innovate and offer new services that retain customers when they are offered high quality and portable services. The combination of IT and telecom sector has helped consumers in understanding and trusting service providers that offer cost effective and efficient seamless communication services.
There have been many instances when telecom sector has shown great maturity and performance in the market; the innovations have been consistent with times and demands, from improvements in traditional areas of local and long-distance telephone services to advanced technologies based such as wireless communication, internet, satellite relays and fiber optic cable that transmit at high speeds. Of all the innovative services, wireless communication is by far the most advanced as the mobility aspect is what is driving greater demands from consumers.
Wireless Market Current Trends
Telecommunication industry is showing a great prospect for growth as the wireless technology market has been performing excellently even though there is an uncertainty in the global economic status. No other industry has touched as many technology related business sectors as telecom sector with its constant innovations and service penetrations in various demographics. The global telecommunication services revenue is expected to reach US $2.7 trillion by 2017 at 5.3% CAGR as the wireless telecom carriers industry has performed well over the last decade resulting in generating of great revenues and profitability.
The wireless telecom sector has posted continuous growth in revenue and subscribers number. As the digital age in opening up new avenues to invent and innovate and when there have been incredible technologies implemented, consumers have been demanding and increasingly being dependent on mobile devices and networking services for various purposes. As the wireless subscribers growth remains strong, the pace of expansion is simultaneously increasing in newer markets. The Asian, European, Middle Eastern and African market has posed a great opportunity for great development and expansion, while North American market has reached a saturation level but the addressable market has many plans and growth is still probable with services such as multi-device data plans, machine-to-machine subscriptions and customization services have the possibility of creating and sustaining market growth.
North American sector is expected to have the slowest CAGR at 4% by 2017 with growth in revenue to touch the value of $554 billion, whereas Asia Pacific market is expected to grow to $1 trillion at 5.9% CAGR. There have been multiple beneficial factors that have played a huge role in growing to such high market values; factors and inventions such as NFC deployments for mobile devices.
Major Wireless Industry Players
Major companies that offer excellent wireless services are the telecom companies that have had huge success rate in since the invention of wireless technology, the companies are Verizon, AT&T, Vodafone, Bharti Airtel, Sprint, 3 (Australia) and Idea Cellular.