The 2013 Telecom Industry Review summarizes current conditions across the global telecommunications industry, providing analysis of multiple infrastructure and service segments. From fundamental background issues to detailed five-year forecasts accompanied by practical strategic advice, this study provides a comprehensive examination of the global telecom services and equipment marketplace. With Europe in economic turmoil, the path to sustained growth will be bumpy for the next few years. Despite such harsh economic times, telecommunications remains a crucial means of helping countries weather hard times by boosting growth and improving productivity.
This report looks at the global telecommunications services and equipment market in each region: North America; Europe-Middle East-Africa; Asia and the Pacific Rim countries; and Latin America. The Review provides up-to-date information in such key areas as wireless demand, optical networking, VoIP, residential and business communications trends, IPTV and cloud services.
The telecommunications industry continues to be impacted by economic factors, most notably, the weak global economy continuing through 2012 and 2013, along with the financial uncertainty in Europe. Over the long term, employment and telecommunications spending will show a modest recovery, and businesses will look to service providers to manage the complexity of expanding branch offices, foreign manufacturing sites, mobile employees, and new access technologies. In developed countries, when job growth does return, we expect that most of the new jobs will be in professional and service occupations, which are major drivers of telecommunications spending.
In the US, unemployment and low consumer confidence continued to drag on the economy. In Europe, the financial stability of the EU remains in doubt and unemployment remains high. The unemployment rate in the US will likely remain above seven percent through 2014, well above the average rate over the past 30 years. With a stagnant US and global economy and businesses not hiring, IT departments must find a way to keep pace with demands for more network applications and greater bandwidth.
Consumer demand for the latest wireless devices and greater access bandwidth remains a key driver of telecommunications services growth. In addition, a large percentage of business activity now depends on the Internet for everything from electronic commerce to intranet applications to customer service.