Economic Times: July, 2016
NEW DELHI: The Indian telecom services market is estimated to touch $103.90 billion by 2020, growing 10.3% annually from 2015 to 2020, a report by Market Research Store said.
India has recorded exponential growth in the past few years, and has emerged as a second largest market in the world, according to the report.
The increasing network coverage and decreasing of tariff rates due to heavy competition were the potential drivers in the past few years, the firm said.
4G technology service is estimated to reach a compounded annual growth rate (CAGR) of 26.6% during the period 2015-2020, the report said, adding that the wireless services market is predicted to reach $39.02 billion by 2020 with a CAGR of 9.3%.
Telecommunications is one of the prime support services needed for rapid growth and modernisation of various sectors of the economy. Market Research Store said that the policies and regulatory frame works implemented by the regulator, Telecom Regulatory Authority of India, created a potential environment for service providers.
The Indian wireless services market is led by Bharti Airtel, followed by No. 2 Vodafone, thied ranked Idea Cellular with Reliance Communications at No. 4. State-run BSNL is also a prominent operator in the market, while Mukesh Ambani-owned Reliance Jio Infocomm is preparing to commercially start operations by this year end.