Mobile Data Industry Overview
The global mobile data market size was valued at USD 565.6 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 6.9% from 2022 to 2028.
Rising spending on 5G infrastructure deployment, increasing demand for internet services among developed and developing economies, and constant consumer shift towards smartphone devices and next-generation technologies are factors driving the growth of the market. The global communication market has been one of the most crucial areas for continued technological developments over the previous few decades. The rising need for high-speed data connectivity, an expanding number of mobile users, and rising demand for value-added telecommunications services have further contributed to the growth of the market. The convergence of the internet, mobile businesses, and network carriers in delivering mobile internet and data transfer services are causing significant changes in the telecommunications sector.
Gather more insights about the market drivers, restrains and growth of the Global Mobile Data Market
Mobile phones are transforming into multi-function computers with increased processing power and display capabilities, and they are firmly entrenched in people’s daily lives. In today’s world, digital lifestyle gadgets are increasingly reliant on the Internet for optimal functionality, establishing the internet as a communication system’s backbone. Additionally, mobile data consumption has risen drastically due to the increase in available bandwidth, rising uses of social media and OTT streaming platforms, and the latest technological advances such as 4G/LTE.
The market for mobile data is continuing to grow at a steady rate, owing to the growing use of broadband in the worldwide communication industry. Governments, businesses, and individuals across the world are increasingly reliant on high-speed, seamless internet connections for education, information, contact center services, and entertainment as the global digitalization trend continues. Additionally, constantly growing research and development activities are anticipated to drive the market for mobile data. Growth of open-source platforms, smartphone display, and sound quality, and super-fast Internet Protocol (IP) networks, among other services are acting as primary factors to attract more customers to the OTT providers ‘freemium-based’ business model, thus resulting in an ever-increasing adoption rate and strong market growth.
The globalization of businesses and cultures has been expedited by the COVID-19 pandemic. In 2020, despite the economic downturn, mobile internet use continued to rise. According to GSMA Intelligence, by the end of 2020, 28% of Sub-Saharan Africans will have a stable internet connection, continuing the upward trend that began in 2014. Due to evolving business strategies and consumer preferences, digital entertainment platforms and global telecom service providers have benefited from the current circumstance as people around the world grapple with the consequences of the COVID-19 epidemic.
In the contextual environment of COVID-19, the remote working culture is likely to fuel the demand for data services and network infrastructure. Similarly, the temporary closure of multiplexes and other outdoor entertainment places as a result of stringent social distancing has increased the use of different digital platforms, including social networking, gaming, and over-the-top (OTT) apps. Mobile voice traffic has also increased during this time, with major communication companies reporting massive increases in voice traffic since the beginning of the epidemic.
Browse through Grand View Research’s Communication Services Industry Research Reports.
- Mobile Voice Market – The global mobile voice market size was valued at USD 360.2 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 5.6% from 2022 to 2028.
- Fixed Voice Market – The global fixed voice market size was valued at USD 142.2 billion in 2021 and is expected to decline at a compound annual growth (CAGR) of -2.3% from 2022 to 2028.
Key Companies profiled:
Some prominent players in the mobile data market include
- AT&T Inc.
- China Telecom Corp., Ltd.
- Deutsche Telekom AG
- Vodafone Group Plc
- Verizon Communications Inc.
- Nippon telegraph and Telephone Corporation (NTT)
- Telefonica SA
- KT Corporation
- Reliance Jio Infocomm Limited
- Orange SA
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