Global Telecom Market Will Reach $4.38 Trillion Next Year: Report

Carriers, webscalers and carrier-neutral network operators worldwide are expected to see $4.38 trillion in revenue in 2024, ResearchAndMarkets.com said Thursday. The 2022 revenue total was $4.11 trillion, it said. Capital expenditure will reach $552 billion in 2024, down from $563 billion in 2022, and employees will total 8.71 million, a drop from 8.88 million in 2022, it said. “Telecom is essentially a zero-growth industry,” the report said: “Specific countries and companies do grow from time to time, in part from market share shifts, the different timing of growth cycles, or M&A. But global telco revenues have hovered in a narrow range ($1.7-$1.9 trillion) since 2011, and this will likely remain true through 2028.” Telco revenue reached $1.78 trillion in 2022. It “will fall a bit in 2023, then will grow an average annual rate of 1.4% to reach $1.93 [trillion] by 2028,” the firm predicted.