Telecom Tower Market SWOT and PEST Analysis 2021-2031
The telecom tower market size is projected to reach US$ 586.94 billion by 2031 from US$ 142.60 billion in 2023. The market is expected to register a CAGR of 19.3% in 2023–2031. Market growth is being driven by the extension of mobile networks into rural areas, as well as investments in 5G connectivity and telecoms infrastructure.
Telecom Tower Market Analysis
The worldwide telecom tower industry is expected to benefit from increasing demand for energy-efficient devices and the digital revolution in emerging economies. Advanced data networks, including 3G, 4G, and 5G, are expected to improve the worldwide telecom tower industry in the next few years. Increased collaboration between government agencies and municipal organizations is expected to drive growth in the global telecom tower market in the coming years.
Telecom Tower Market Overview
The worldwide telecom tower industry was expanding due to rising demand for mobile and wireless communication services. Telecom towers are critical infrastructure for the deployment of wireless networks, such as 4G and 5G technologies. People converse via telecommunication towers. These towers act as the hub for all electronic, mobile, radio broadcast, and television antennas. The full collection of electronic signal processing equipment and mechanical components that comprise a telecommunication tower is used to connect people via communication. These towers serve as the central point for all phone lines and cellular services. In addition, the military forces use these towers to house radar. Towers of differing heights are used for a variety of purposes and locales.
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Telecom Tower Market: Strategic Insights
Market Size Value in US$ 40.0 Billion in 2017 Market Size Value by US$ 146.5 Billion by 2025 Growth rate CAGR of 18.0% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Telecom Tower Market: Strategic Insights
| Market Size Value in | US$ 40.0 Billion in 2017 |
| Market Size Value by | US$ 146.5 Billion by 2025 |
| Growth rate | CAGR of 18.0% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Telecom Tower Market Drivers and Opportunities
Surge in Mobile Communication to Favor Market
Mobile communication usage is predicted to drive future growth in the telecom tower market. Mobile communication involves leveraging technology such as mobile phones, smartphones, and tablets to connect with people in different locations. Telecom towers, such as mobile phone towers, use electrical equipment and antennas to transmit and receive signals, enabling wireless communication across large distances. In March 2023, the International Telecommunication Union reported a 5% increase in the percentage of male world population owning mobile phones from 74% in 2021 to 79% in 2022. The growing use of mobile communication is driving the growth of the telecom tower market.
Government-led Expansion is Fueling the Surge of Telecom Towers
The telecom tower industry is predicted to develop due to government-led initiatives in the telecommunications sector. Government initiatives for the telecommunications sector include policies, programs, and activities aimed at regulating, supporting, and developing the industry. Government activities in the telecommunications sector impact the regulatory, economic, and technological situation for telecom towers. The Infrastructure Investment and Jobs Act of 2021 allocates US $65 billion for broadband, with US $48.2 billion managed by NTIA's newly established Internet Connectivity and Growth office. The IIJA has required the NTIA to develop six broadband programs, the most important of which is the $42.45 billion Broadband Equity, Access, and Deployment (BEAD) Program. Thus, the market for telecom towers is expanding due to an increase in government efforts for the telecom industry.
Telecom Tower Market Report Segmentation Analysis
Key segments that contributed to the derivation of the telecom tower market analysis are type, tower placement, and deployment type.
- Based on type, the telecom tower market is divided into lattice towers, guyed towers, monopole towers, camouflage towers, and mobile cell towers. The lattice towers segment held a larger market share in 2023.
- By tower placement, the market is segmented into green field towers and rooftop towers. The greenfield towers segment held the largest share of the market in 2023.
- In terms of deployment type, the market is segmented into shared infrastructure deployment and owned deployment. The infrastructure deployment segment dominated the market in 2023.
Telecom Tower Market Share Analysis by Geography
The geographic scope of the telecom tower market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the telecom tower market. The US market is extremely competitive, with multiple major vendors striving for dominance. This fierce rivalry is fuelled by the country's high demand for 5G telecommunications services, prompting many enterprises to focus on expanding their operations in order to capitalize on the opportunity. The US government has a number of prominent suppliers that are involved in partnerships, acquisitions, mergers, rollouts, and coalitions. In recent years, mobile wireless services have emerged as Canada's most significant and rapidly expanding telecommunications business. The growing trend is expected to continue as sophisticated technologies such as the fifth-generation 5G network are implemented, as well as creative applications such as the Internet of Things (IoT).
Telecom Tower Market Report Scope
Telecom Tower Market News and Recent Developments
The telecom tower market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In April 2023, The Indian government launched 254 '4G mobile towers in Arunachal Pradesh's LAC villages. Furthermore, these 254 towers will deliver 4G connectivity to 336 communities, including those that have been unconnected since Independence. The majority of these towers are positioned in Chinese border areas to prevent foreign telecom encroachment. Furthermore, the debut of this program is estimated to help more than 70,000 people.
(Source: Indian government, Company Website, 2023)
- In April 2023, Tawal, a subsidiary of Saudi Telecom Company (STC), agreed to acquire United Group's tower infrastructure for Euro 1.22 billion (USD 1.34 billion). The deal will encompass the United Group's infrastructure units in Bulgaria, Slovenia, and Croatia, totaling around 4,800 towers. Furthermore, this strategic acquisition is consistent with Tawal's goal of increasing its international footprint in important countries with strong development potential within the STC Group.
(Source: Tawal, Company Website, 2023)
Telecom Tower Market Report Coverage and Deliverables
The "Telecom Tower Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Tower Placement ; and Deployment Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The global telecom tower market is expected to reach US$ 586.94 billion by 2031.
The key players holding majority shares in the global telecom tower market are American Tower Corporation, Cellnex Telecom, China Tower, Oman Tower Company, and Indus Tower Limited.
Data usage growth is anticipated to play a significant role in the global telecom tower market in the coming years.
The surge in mobile communication and growing secondary marketing activities by players are the major factors that propel the global telecom tower market.
The global telecom tower market was estimated to be US$ 142.60 billion in 2023 and is expected to grow at a CAGR of 19.3% during the forecast period 2023 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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