In 2021, the global expenditure on telecommunications services and pay TV services reached US $1566 billion, with a year-on-year increase of 1.6% From IDC

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According to the global semi annual telecom service tracking report of International Data Corporation (IDC), the global expenditure on telecom services and pay TV services reached 1566 billion US dollars (1490 billion euros) in 2021, with a year-on-year increase of 1.6%. IDC expects global spending on telecommunications and pay TV services to grow by 1.4% to $1588 billion in 2022.

The year 2021 is characterized by the rapid recovery of the global economy from the recession caused by the COVID-19. This favorable environment has led to an increase in additional expenditure on telecommunications services, so the total value of the global market has increased slightly faster than originally predicted. This trend is common in all regions of the world: the European, Middle East and Africa (EMEA) market increased by 0.2 percentage points in October 2021; The growth rate in the Asia Pacific region is 0.5 percentage points faster; The growth rate in the Americas is 1.0 percentage points faster. With the exception of pay TV, growth in all technology sectors was also higher than expected, which is logical because people can spend more time outdoors, so some people decided to cancel TV package subscriptions obtained during the lock-in period.

IDC’s forecast for the global telecommunications services and pay TV market in October 2021 includes a scenario of further recovery (i.e. even higher growth rate) in 2022 and 2023. However, the forecast has changed due to new circumstances, including accelerating inflation and the central bank raising the benchmark interest rate, which will lead to a slowdown in economic growth in the next few years. Although this forecast is still optimistic, it is expected that the growth rate in the first half of the year will be lower than that of last year.

Inflation should nominally have a positive impact on this market: operators will raise their tariffs, customers will pay more, and the total value of the market should grow faster than expected. However, inflation will also lead to a decline in the purchasing power of consumers and enterprises, resulting in a decline in demand. It is worth noting that the impact of inflation on the telecommunications service market will expand in the next few years. This is because most users have signed two-year contracts with operators to ensure stable charges before the expiration of the contract. This also means that in markets with a high proportion of prepaid customers, the impact of inflation will initially be higher.

During the whole period of the COVID-19 epidemic, the telecommunications service industry has remained very stable. Not only that, it is also a pillar of the global economy, allowing people to communicate, entertain and work at home. “The economic recovery in 2021 has boosted the growth of the market and led to a higher growth rate than expected, but the forces driving market growth may also push it down,” said kresimir Alic, director of global telecommunications services research at IDC. “Like other markets, this market is not immune to changes in economic trends. Forces such as inflation and recession may quickly change the shape of the curve. Inflation has occurred and the economy is beginning to slow down. For this reason, our view of the market remains cautiously optimistic.”

Source: Advanced Television * this article is compiled by future media network

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