Global Telecommunication Market size was valued $18 BN in 2017 and is expected to grow at a CAGR of 6.14% reaching $29 BN by 2026. The telecom industry has incredible growth owing to new technologies and recent developments, where new concepts of 5G wireless, IOT, Platform based service (PBS), Cloud computing, Network security, Data centres, OTT, etc., are leading concepts to understand telecommunication verticals. In 2020 there are over 1.1 billion fixed broadband subscribers globally a rise from around 830 million in 2015; indicating there is still room for growth in the fixed broadband sector, particularly in the emerging markets and those transitioning to FttH. As a whole, the telecommunications industry generates upwards of 1 trillion euro (1.4 trillion U.S. dollars) in service revenues each year.
5G has emerged as the next major technology that will transform how telecoms provide a service. Global shipments of 5G handsets in the first quarter of 2020 exceeded the total amount vendors shipped in 2019, and demand is expected to skyrocket between now and 2024. 5G goes well beyond consumer mobile phone connections, and is set to emerge in connected cars, emergency services, telematics devices and other segments by 2023.