Market Insights report
The steady introduction of the 5G mobile network, and 5G compatible smartphones, is guaranteed to unlock a whole new mobile experience for consumers, and further drive sales and revenues of the Telephony segment. In 2023, the global revenue of the Telephony segment reached US$498.3 billion and, by 2029, this is forecast to increase to US$579.8 billion.
What's included?
The Telephony segment report encompasses mobile and landline phones. The global telecommunications market was ushered into a new era in 2007, with the launch of Apple’s iPhone. Nowadays, smartphones have become a symbol of mobile internet access, and they have triggered a wave of innovations in the past decade—which has reached telecommunication providers, software companies, computer manufacturers, raw material suppliers and especially social networks, and is still keeping them busy up until today. In 2023, the Telephony market worldwide generated a revenue of US$498.3bn. It is projected to experience an annual growth rate of 3.57% (CAGR 2024-2029). China holds the majority of the market share with a revenue of US$123.2bn in 2023. When considering the population size, the per person revenue in the Telephony market is estimated to be US$62.81 in 2024.Many consumers in Europe and the USA own high-performance smartphones, and the number of competitors in the market has increased significantly; an increase which is particularly led by Chinese manufacturers like Xiaomi. This report is a part of Consumer Market Insight reports.
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