Major companies in the wired telecommunications carriers market include AT&T; Comcast Corporation; China Telecom; BT Group and Verizon communications. The global wired telecommunication carriers market is expected to grow from $912.
New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wired Telecommunication Carriers Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009780/?utm_source=GNW
02 billion in 2020 to $1000.19 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1213.74 billion in 2025 at a CAGR of 5%.
The wired telecommunications carriers market consists of sales of wired telecommunications services and related goods by entities (organizations, sole traders and partnerships) that provide local and long-distance voice calling, sound and video transmission, cable TV and internet services over fixed-line networks. Companies in the wired telecommunications industry may own and maintain networks, share a network or lease a network from other companies. The wired telecommunications carriers market is segmented into broadband internet services; fixed telephony services and direct-to-home (DTH) services.
North America was the largest region in the global wired telecommunication carriers market, accounting for 36% of the market in 2020. Asia Pacific was the second largest region accounting for 32% of the global wired telecommunication carriers market. Africa was the smallest region in the global wired telecommunication carriers market.
Wired telecommunications companies are offering additional services to their consumers instead of limiting their service offerings to fixed line and DSL internet services. Companies are shifting towards a multi-function system by adding services such as internet broadband and television satellite connection in their offering. Thus, a consumer receiving internet and voice telephony is more likely to subscribe to IPTV, video on demand and pay television services. For example, AT&T acquired DirecTV pay-tv services to increase offerings to their customers.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the wired telecommunication carriers market in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the wired telecommunication carriers market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The wired telecommunication carriers market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.
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