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The global wireless telecommunication services market is anticipated to maintain a rather modest growth in 2012, with overall market revenue predicted to be worth approximately $1,104 billion by 2017, growing at a compound annual growth rate (CAGR) of 4.8%.
Growth within the global wireless telecommunication services market is expected to be fuelled by the constant expansion in mobile communication options and the increased demand for emerging devices such as smart phones and tablets.
Europe dominates the market with 35% of the global wireless telecommunications industry share and is expected to continue to do so into the near future.
The APAC region represents good growth potential over the next five years. Continuing investments in expanding network connectivity, infrastructure upgrades, and growing numbers of wireless subscribers are expected to drive growth to new heights.
China Mobile Ltd. and Vodafone Group plc are the two dominant global players in this highly competitive industry. The market has become so competitive due to a large number of operators that compete on price as well as service.
Although the future looks bright for the global wireless telecommunication services market it does still pace a number of potential challenges including, regulatory compliance, licensing requirements, global competitiveness, high debt, and an abundance of customer alternatives being sold at a minimal cost.
For more information on the global wireless telecommunication service market, see the latest research: Global Wireless Telecommunication Service Market Report
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