The telecom industry has been growing rapidly over the past few years, driven by the global 5G race and increased demand for personal broadband. Substantial government support and a nationwide 5G rollout should shape the telecom sector’s growth over the long term.
The $1.2 trillion Infrastructure Investment and Jobs Act passed last year has earmarked $65 billion for nationwide broadband adoption, boosting the domestic telecom sector. In addition, as countries worldwide roll out 5G services, the telecom industry is expected to grow at a 6% CAGR over the next three years to $3461.03 billion by 2025. According to a Market Research report, the global 5G service market is currently worth more than $21.53 billion and is expected to reach approximately $85.84 billion by the end of 2023.
