The Business Research Company’s Wireless Telecommunication Carriers Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, April 27, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The number of people using mobile payments to pay for goods and services at the point of sale is expected to increase significantly. Particularly in the USA, mobile payment sales are expected to grow exponentially because of the growth in the number of overall users of the technology. For instance, number of people using mobile payments in the US increased from 48.1 million in 2017 to around 55 million (approximately 20.2% of population) in 2018. Mobile wallets like Apple Pay, Android Pay and Samsung Pay are likely to become a standard feature on new smartphones, according to e-Marketer research. Increasingly, merchants are also likely to adopt point-of-sale systems that can accept mobile payments. To encourage and promote the use of m-payments, incentives like promotions and loyalty programs will be integrated to attract new users.
The wireless telecommunications carriers market consists of sales of telecommunications services and related goods by entities (organizations, sole traders and partnerships) that operate and maintain switching and transmission facilities to provide telecommunications services via airwaves. The services provided by the companies in this industry include cellular phone services, wireless internet access, and wireless video.
The global wireless telecommunication service market is segmented by type into cellular/mobile telephone services, wireless internet services, by application into household, commercial, by product into voice, data, and by technology into 3G, 4G, 5G.
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The global wireless telecommunication carriers market is expected to grow from $744.75 billion in 2020 to $764.23 billion in 2021 at a compound annual growth rate (CAGR) of 2.6%. 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 $975.78 billion in 2025 at a CAGR of 6%.
North America has the largest wireless carriers market share, accounting for 40% in 2020. Asia Pacific is the second largest region accounting for 38% of the global market. Africa was the smallest region in the global wireless telecommunication carrier market.
The major players covered in the wireless telecommunication industry are AT&T, China Mobile, Verizon Communications, Deutsche Telekom AG, Telefonica SA.
Wireless Telecommunication Carriers Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides wireless telecommunication carriers market overview, forecast wireless telecommunication carriers market size and growth for the whole market, wireless telecommunication carriers market segments, and geographies, wireless telecommunication carriers market trends, wireless telecommunication carriers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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