Telecommunications

The market can be broadly split into mobile and fixed-line communications. The fixed-line segment includes fixed broadband services, with a particular focus on the deployment of fiber-optic broadband, though also includes fixed-line voice services. The mobile segment concerns all aspects of mobile communications, including mobile data services. There has been a strong focus on the rollout of 5G, with the number of 5G subscriptions worldwide set to surpass two billion in 2024.

Global 5G adoption is under the spotlight, with the technology set to underpin a range of exciting artificial intelligence (AI) use cases. North America currently leads the way, with 5G accounting for more than half of all mobile connections. However, low adoption forecasts in parts of Africa and Eurasia risk many users becoming locked out of the 5G's revolution, with this digital divide driven by poor network infrastructure and affordability issues.

Intense competition is a feature of telecoms markets across the globe. T-Mobile US is the largest telecoms company by market capitalization, having surpassed Beijing-based China Mobile in 2024. T-Mobile US is one of a range of major operators across the globe that has sought to boost its 5G offering by merging with rival network operators, with the firm having joined with Sprint in 2020. It has since emerged as a 5G leader, offering the highest average download speed of any U.S. operator.

While many fixed broadband users are enjoying the lightning fast download speeds offered by fiber connections, remote areas remain largely unserved. This has led some to look to mobile solutions, with so-called fixed wireless access (FWA) services using 4G and 5G technology to deliver fast, stable internet to a fixed premises. There were around 161 million such connections as of 2024, with around a third of these using 5G networks.