According to the recent report from Transparency Market Research, the global telecommunications market size is set to reach value of $1.4 billion by 2025, registering a strong CAGR of 6.6% over the next five years. Internet and phone are one of the fastest growing segments in the global telecommunication services market. Asia-Pacific is expected to grow at the fastest rate in global telecommunication services market over the next few years. Led by some of the largest telecommunications markets in the world including China, India and Japan, Asia-Pacific is currently representing nearly 35% of the overall global telecommunication services market. The high growth in the region is owing to high mobile penetration rate and growing population in the region.
Among the rapid development of mobile telecommunications, 4G LTE and fixed broadband are still some of the leading segments around the world. However, newly emerged 5G network is growing with an exceptional pace and will continue to be a key trend of the global telecommunications services market in 2020 and beyond.
Verizon Communications Inc is one of the largest telecom companies in the world and among top telecommunication companies in the USA with a market value of around $201 billion in 2019. Verizon is headquartered in Manhattan, New York City and operates in over 150 countries worldwide. Over the recent years, the company has put its main focus on developing digital & mobile infrastructures and has been investing heavily in next-generation 5G wireless technologies as well as the multitrillion-dollar Internet of Things (IoT) opportunities.
AT&T Inc is another American multinational telecommunication conglomerate with market value of $198 billion in 2019. Headquartered in Dallas, Texas, the company offers a wide range of products and services, including mobile phone, satellite TV, Home Security, Fixed Telephone, Digital TV as well as Broadband internet etc. to over 355 million customers across 56 U.S. metropolitan cities, with plans for further expansion.
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