Worldwide spending on telecommunications services and pay TV services reached USD 1,662 billion in 2017, an increase of 1.4% year over year (in constant dollar terms), according to the International Data Corporation´s (IDC) Worldwide Telecom Services Database, the company said.
IDC believes that the growth rate will accelerate to 1.6% in 2018, bringing worldwide spending on telecom and pay TV services to USD 1,689 billion. The market is forecast to continue its positive growth until the end of the five-year forecast period (2018-2022), growing at a compound annual growth rate (CAGR) of 1.1%.
On a geographic basis, the Americas will remain the largest services market until the end of the forecast period in 2022. However, due to somewhat slower growth compared to other regions, its share of total worldwide spending will decline from 38% in 2017 to 36% in 2022. In contrast, Asia/Pacific will see its share increase from 32% to 34%.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC´s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world´s media, data and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.