Worldwide Telecommunications Services and Pay TV Services revenues totaled $1.53 trillion in 2020, representing flat year-over-year growth, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker. IDC expects worldwide spending to increase by 0.7% in 2021 reaching a total of $1.54 trillion.
IDC believes that connectivity will become an even more critical asset for households and businesses after the pandemic, as some of the habits adopted during the crisis (remote working, collaboration, online media consumption) are expected to become part of everyday life. The migration toward FttP access is expected to accelerate in most of the country markets, while the business fixed data market will recover in the longer term as the economic recovery drives increased investments in the cloudification of enterprise business activities. Revenue growth in the mobile services space will be buoyed to a degree by 5G adoption, which will invite users to deploy more advanced data capabilities and uptake the content and services dependent on high-speed data connectivity.