Telecommunications Industry Grows Despite UncertaintyBy: Shawn Hess - January 16, 2012
Uncertainty about the global economy doesn’t seem to be hindering the growth of the telecommunications industry. Currently at 2.1 trillion, revenue from services are expected to grow to 2.7 trillion by the year 2017.
This news comes to us from The 2012 Telecommunications Industry Review: An Anthology of Market Facts and Forecasts.
Just as the costs and availability of other utilities, like water and electricity have shaped our perceptions and behaviors, communications will continue to play an even more prominent role in our lives. The growing Asian market has a great requirements for communication technology both wire-based and wireless. Though overall growth is expected in both categories, the biggest demand will be for wireless 3 and 4G networks.
As the need increases more jobs will be created, more online services will be created, and so will other services built around them. Manufacturing, shipping, data management, and countless other things that go along with the trend.
While the economy may be dragging at the present, the technological golden age will continue to drive growth. The five year projections highlighted in the report suggest a 5.3 % growth rate overall. Total wireless revenues are expected to rise 64% above the current. All this suggests good things are happening both domestically and globally.