Despite perturbations in global financial markets, worldwide telecommunication industry revenues are predicted to c...
October 22, 2008
Despite perturbations in global financial markets, worldwide telecommunication industry revenues are predicted to continue growing at a healthy 8% over the next five years, according to a new market analysis study from Insight Research Corp.
Telecommunications revenue, including narrowband and broadband landline, wireless and cellular services, as well as Internet communications are expected to grow from US$2.1 trillion in 2008 to more than US$3 trillion by 2013 even as margins on traditional voice-related products continue contracting and the industry responds by shifting to an Internet Protocol (IP) communications fabric, the research firm said.
According to Insight’s report, entitled “The Future of Telecommunications 2008-2013,” with voice revenues shrinking faster than their ability to cut costs, landline phone and cellular companies are turning to IP communications technology to reduce their cost of operations.