IDC Sees Slowing in Telecom and Pay TV Spending

Worldwide spending on telecom and pay-TV services reached $1.5 trillion in 2023, up 2.1% over 2022, but slower growth is expected this year, according to the IDC Worldwide Semiannual Telecom Services Tracker. IDC projected an increase of 1.4% in 2024. “The progress of the global market slowed during the latter half of 2023,” IDC said: “This deceleration primarily resulted from slower-than-anticipated progress in the Americas, where a combination of sluggish economic growth, relatively high inflation, and saturated markets created an unfavorable environment for market development.” Growth was stronger in Europe, the Middle East and Africa, where operators “were allowed by the regulators to increase their tariffs in line with inflation using a Consumer Price Index model,” the report said.