Cellular Or Mobile Telephone Services Market
The Cellular or Mobile Telephone Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cellular or Mobile Telephone Services Global Market Report 2024, The cellular or mobile telephone services market size has grown steadily in recent years. It will grow from $216.15 billion in 2023 to $223.37 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to emergence of digital cellular networks, introduction of gsm standards, expansion of coverage areas, rise of mobile data services, introduction of prepaid services.
The cellular or mobile telephone services market size is expected to see strong growth in the next few years. It will grow to $273.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to smart city initiatives, rise of mvnos, mobile security solutions, virtualization and network slicing, evolving user behavior. Major trends in the forecast period include rise of 5g technology, internet of things (iot) expansion, mobile data consumption surge, mobile device evolution, remote work and connectivity needs.
An increasing number of mobile subscribers is predicted to contribute to the growth of the cellular or mobile telephone services market over the forecast period. According to the Cisco Annual Internet Report, the number of mobile subscribers across the globe is expected to increase to 5.7 billion (71% of the population) by 2023. Therefore, growing mobile phone subscribers are projected to increase the overall demand for growth of the cellular or mobile telephone services market.
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The cellular or mobile telephone services market covered in this report is segmented –
1) By Type: Basic Communication, Value-Added
2) By Service: 3G Services, 4G Services, 5G Services
3) By End User: Manufacturing, Energy And Utilities, Media And Entertainment, It And Telecom, Transportation And Logistics, Healthcare
Major companies operating in the cellular or mobile telephone services market are launching new services such as World Mobile service to address connectivity gaps and cater to both mainstream and under-served regions globally. World Mobile Service is a telecom offering that integrates blockchain and cryptocurrency technologies to provide mobile network services. For instance, in August 2023, World Mobile, a UK-based telecom company that merges blockchain and crypto technologies, launched its services in the US, UK, Australia, Canada, and Tanzania through the World Mobile app. The app is available initially for Android users, and the service aims to enhance connectivity in areas that lack it by leveraging the power of blockchain. The company offers a decentralized wireless network service using its own token, the World Mobile Token (WMT), which operates on the Cardano blockchain. The unique feature of their app is the “Scan for Points” function, allowing users to identify weak internet areas and earn rewards. The company has also partnered with Singularity NET to explore decentralized Artificial Intelligence services.
The cellular or mobile telephone services market report table of contents includes:
1. Executive Summary
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