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    Telecommunications Services Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 5/10/2021
    SIC Codes: 4812, 4813, 4841, 4899
    NAICS Codes: 517
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Telecommunications Services Industry Profile

    Companies in this industry operate or provide access to facilities for voice, data, text, sound, and video transmission through wired, wireless, or satellite networks. Major companies include US-based AT&T, Comcast, and Verizon, as well as China Mobile (China), Deutsche Telekom (Germany), NTT (Japan), Telefónica (Spain), and Vodafone (UK).

    Worldwide, the telecommunications industry generates $1.7 trillion in revenue and forecasted to experience growth by over 5% until 2028, according to Grand View Research. The European Union and India lead the world in exports of telecommunications, computer, and information services, according to the World Trade Organization.

    The US telecommunications services industry includes about 60,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $620 billion.

    COMPETITIVE LANDSCAPE

    Telecommunications services providers operate in a highly competitive market that includes wireless companies, traditional telephone companies, cable companies, internet service providers, and software and application providers. Market saturation has led to a slowdown in wireless subscriber growth in certain developed regions, driving major carriers to lower their prices to compete. Because voice services may increasingly be considered a commodity, providers may attempt to compete by offering superior customer service or heavily investing in marketing.

    The telecommunications industry in the US is highly concentrated: the 50 largest companies generate about 90% of revenue. Carriers around the world are in a consolidation push, seeking to grow their subscriber bases through acquisitions, improved service, and new ...

     
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