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Telecommunication Service Market Is Expected To Grow Tremendously By 2027 August 11, 2021
By Zaraki Kenpachi -
As per the new market report published by Transparency Market Research titled “Telecommunication Services Market [By Package Type (Double Play, Triple Play and Quad Play), By End-use Vertical (Residential and Commercial)] – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” is expected to reach a value of US$ 1,750.62 Bn by 2027. The study projects the global telecom enterprise services market to expand at a CAGR of 7.4% during the period from 2017 to 2027. Some of the factors driving the growth of telecommunication services market are surge in demand for telecommunication service market in coming years with the expansion of Micro, Small, and Medium Enterprises (MSMEs) across the world and high industrial activity. Also, these enterprises are increasingly adopting IT and networking technology solutions to improve productivity, drive operational and capex e몭ciencies, and enable convergence across multiple devices. The other factor which is accelerating the growth of telecommunication service is growing technological advancements across the world. In addition to it, rise in investments by major players in emerging markets such as Asia Paci몭c (APAC), coupled with increase in enterprise IT spending across the industries is expected to drive the market growth. The telecommunication industry is one of the fastest growing industries in the business world. Telecommunication service providers o몭er telecommunication services for receiving and sending data through electronic devices. Telecommunication services include email, text, television, fax, radio and Internet access. Telecommunication services are bene몭cial for businesses as they enable