The telecom industry has emerged quickly over the last decade amid the rapid adoption of smartphone devices and internet penetration around the world. The telecom industry has also benefited from the COVID-19 pandemic because of the increasing usage of data services and acceleration of digitalization processes.
The growth is forecast to continue, with the global telecom services market expected to reach $2.47 trillion in 2028, growing at a CAGR of 5.4% between 2021 and 2028, Research And Markets reports. The increasing demand for high-speed data connectivity and the fast spread of digitalization worldwide should fuel the industry's growth during the forecast period.
