The telecommunications industry within the sector of information and communication technology is made up of all Telecommunications/telephone companies and internet service providers and plays the crucial role in the evolution of mobile communications and the information society.
Traditional telephone calls continue to be the industry’s biggest revenue generator, but thanks to advances in network technology, Telecom today is less about voice and increasingly about text (messaging, email) and images (e.g. video streaming). High-speed internet access for computer-based data applications such as broadband information services and interactive entertainment, is pervasive. Digital Subscriber Line (DSL) is the main broadband telecom technology. The fastest growth comes from (value-added) services delivered over mobile networks.
The telecom sector continues to be at the epicenter for growth, innovation, and disruption for virtually any industry. Mobile devices and related broadband connectivity continue to be more and more embedded in the fabric of society today and they are key in driving the momentum around some key trends such as video streaming, Internet of Things (IoT), and mobile payments.
Think of telecommunications as the world’s biggest machine. Strung together by complex networks, telephones, mobile phones and internet-linked PCs, the global system touches nearly all of us. It allows us to speak, share thoughts and do business with nearly anyone, regardless of where in the world they might be. Telecom operating companies make all this happen.
Insight Research projects that telecommunications services revenue worldwide will grow from $2.2 trillion in 2015 to $2.4 trillion in 2019.