2023-11-04 18:18:00

IDC Telecom Services Tracker Finds Accelerated Growth Due to Inflation but the Future Remains Shadowed by

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Benzinga
By Business Wire

Worldwide spending on telecommunications and pay TV services will be nearly $1.6 trillion in 2022, representing a year-over-year increase of 1.9%, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker. The latest forecast is a bit more optimistic than the version published in May as it assumes growth in total market value will be 0.5 percentage points higher. IDC believes that this positive movement is a consequence of inflation (i.e., the increase in tariffs for telecommunication services).

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As a result of the inflationary pressures that have started to threaten their profitability, telecom operators have recently started to increase the tariffs for their services. A simple analogy indicates that the higher tariffs mean clients are paying more, and the total nominal value of the market is growing faster than previously expected. This trend is common across all global regions and has caused similar changes in their respective revenue forecasts for 2022: the growth in the Americas was increased by 0.3 percentage points, in Asia/Pacific by 0.5 percentage points, and in EMEA by 0.9 percentage points. The increase in EMEA comes mostly from Europe, a region that is witnessing higher-than-average inflation while struggling to find a replacement for cheap Russian energy. Still, the fastest revenue growth this year is expected in the Asia/Pacific region, driven by the relatively lower saturation of the telco markets in less-developed countries.

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