Continued digital transformation and remote lifestyles have been driving the demand for telecom services for better connectivity. Moreover, increasing investments to deploy 5G and increased accessibility in rural areas should drive the sector’s growth. The global telecommunications market is expected to grow at a 1.5% CAGR to reach $1.96 trillion by 2028.
Given the sector’s solid growth prospects and defensive nature, it could witness rising investor attention as the stock market is expected to remain under pressure on concerns over high inflation and aggressive policy tightening.
