Telecommunication Market Share

APAC Market Statistics

Asia Pacific industry is expected to hold largest revenue share of 33% by 2037. The widespread use of smartphones, investments in 5G technology, and e-commerce and merchant buy-in platforms are the main factors driving the regional market. Indian e-commerce was valued at USD 46.2 billion in 2020 and is projected to increase to USD 136.47 billion by 2026 at an 18.29% annual growth rate.

China's internet penetration rate is rising, which is thought to be fueling market expansion. in China would have 1.02 billion internet users, more than three times as many as the United States, which came in third place with slightly over 307 million users.

As evidence of the expanding trend of smartphone use, Japan has a high internet penetration rate and a sizable community of mobile internet users. In Japan, there were 102.5 million internet users as of the start of 2023, or 82.9 percent of the total population. Japan has 92.00 million social media users as of January 2023, which represents 74.4 percent of the nation's total population.

Growing government initiatives on information and communication technology (ICT)-enabled digital integration are expected to drive the expansion of the South Korean telecom services market. The ICT industry produced KRW 560 trillion in total in 2022, an increase of 5.1% over the previous year.

North America Market Analysis

The North America region will also encounter huge growth for the telecommunication market during the forecast period. The market is expected to witness expansion due to the growth in the early adoption of digital technology and increasing consumer expenditure on mobile phones. The number of mobile cellular subscriptions per 100 people in the United States increased from 107.3 in 2021 to 110.2 in 2022.

In the United States, the telecom industry is driven by scientific inventions and the emergence of cloud computing technology. 96% of businesses use one or more public clouds. Half of the workloads of businesses are hosted on public clouds. Also, US continues to invest significantly in the telecommunication industry. For instance; in line with President Biden's Investing in America initiative, the National Telecommunications and Information Administration (NTIA) of the Department of Commerce has announced plans to invest USD 930,021,354.34 to build middle mile high-speed Internet infrastructure throughout 35 states and Puerto Rico.