Globally, the virtual PBX market is expected to grow with a CAGR of 15.1% during the forecast period from 2022 to 2030. The increasing demand for enterprise mobility solutions is driving the demand for virtual PBX market. As the adoption of the mobile devices among the enterprises is rising and employee started using their own devices to access organization data, organizations are looking for new ways to establish a well structured and maintained mobile infrastructure. Virtual PBX allows enterprises to invent their Network infrastructure and enhance collaboration between their employees, which in turn increases the business performance.
The wireless microphone market worldwide is expected to raise with a CAGR of 5.4% during the forecast period from 2022 to 2030, starting from US$ 2.44 Bn in 2021. Proliferation of wireless devices and technology up gradation of electronic devices are the major factor for wireless microphone market growth. Rising online training market, growing no. of sports events, and continue increase in the media & entertainment industry are some other factors for market growth.
The global public safety wireless communication systems market accounted for US$ 16.00 Bn in 2021 and is projected to reach US$ 32.14 Bn by 2030, growing at a CAGR of 8.1% throughout the forecast period from 2022 to 2030. Public safety wireless communication systems are currently driven by next-gen mobile technology enablers for meeting the new requirements of public safety. Public safety is one of the key responsibilities of any government including protecting the public from terrorist attacks, crimes, and natural disasters.
Globally, the military communications market is expected to grow with a CAGR of 4.0% during the forecast period from 2022 to 2030, starting from 2021 with a market value of US$ 36.06 Bn. Military communication is defined as the transmission of information from one unit to another or headquarters to the units. The military communication is an important part for the armed forces to maintain their efficient functioning, military command, and control over the troops.
Globally, the mobile peer-to-peer (P2P) money transfer market is expected to grow with a CAGR of more than 18% during the forecast period from 2019 to 2027. Over the past decade, a significant increase in the use of smartphone across the globe has been witnessed. The number of smartphones has increased from 1.57 Bn in 2014 to 2.53 Bn in 2018. This growth is credited to the increasing disposable income of the population across the global along with the emergence of the low cost smartphone manufacturers in the Asia region.
Dark fiber networks market is set to reach US$ 13.51 Bn by 2028, growing with a double digit CAGR throughout the forecast period from 2020 to 2028. Primarily governed by North America, dark fiber networks market is highly driven by increasing usage of the existing unlit fibers of established optical networks.
Radio detection and ranging (RADAR) is a detection and surveillance system which uses radio frequency to detect any object. Radar has the capacity to find any stationary or moving object and determine their shape, distance, angle, velocity and other static and dynamic properties. Radars are primarily developed for military applications and are extensively used for surveillance and detection.
The rising penetration of smartphones and internet usage has led to a high demand for mobile applications in recent years. A further rise in the penetration of mobile devices is expected to continue driving the demand for mobile applications in the following years. Similarly, the penetration of over-the-top (OTT) services to have witnessed a paradigm shift in the past few years. In addition, advancement in internet services such as 4G LTE further drives the overall mobile applications and OTT content industry. This is expected to significantly fuel the mobile internet traffic rate thereby bolstering API services such as WebRTC, RCS, and location. This is one of the most significant factors fueling the telecom API market growth.
The use of Short Messaging Service (SMS) for advertising and other promotional activities in varied verticals including healthcare, entertainment, transport, and finance has been gaining lot of interest in the recent years.
Telecommunications Market Research Reports
The telecommunications service market is characterized by different activities like mobile internet, satellite television, cable television, and land line telephones. Telecommunications companies offer their services to every big and small firms ranging from government offices to large corporate units. These companies function in a number of groups like satellite, wireless and wired. Telecommunications sector is observing a shift in market dynamics forces due to evolution of few modern technologies and decline of traditional sections like fixed line communications.
In year 2010, it was described that the worldwide fixed line sector witnessed one percent reduction in telecommunications market growth. By end of year 2015, this market is likely to decline further at rate of five percent earning a total revenue of 524 million US dollars.
A key share of the telecommunications market is held by voice technologies that comprise nearly about fifty seven percent of the total market. The largest share in the telecommunications market is held by USA and the biggest industry player in this market is the NTT group whose headquarters is at Japan.
Today, strong growth figures are registered by broadband telecommunications industry. Satellite broadband activities are predicted to record a growth of six billion US dollars by the end of year 2015. Similarly, the fast emerging market of mobile broadband system is expected to make a growth of 480 billion US dollars in revenue by the end of year 2015.
Another rapidly growing sector within the telecommunications business is internet protocol television that can build on the current infrastructure of broadband technologies and video compression technologies. Region of Asia Pacific Zone is projected to surge ahead of EU in IPTV section.
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