Telecommunication Market Size

Telecommunication Market size was over USD 1805.6 Billion in 2023 and is set to cross USD 3995.3 Billion by the end of 2036, growing at more than 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of telecommunication is assessed at USD 1919.3 Billion.

The telecommunication market is driven by rising spending on the development of 5G-based technologies by communication service providers (CSPs). Customers' shifting preferences for smartphone devices have triggered a new phase of growth in end-to-end 5G, edge cloud infrastructure, and private networks. As per the Cellular Telephone Industries Association (CITA), wireless providers in the U.S. invested USD 39.0 billion in 2022, which is a record high spending on 5G since 2018.