Insight Research Corp (News - Alert). has recently said that the worldwide telecommunications industry is growing at double digit rate despite current economic turmoil.

Robert Rosenberg , president of Insight, said that while there are indications that the worst of the economic turmoil is past, job creation still remains elusive. Yet even amid the uncertainty, the company expects the telecommunications industry to continue growing.

 

The research underlines that despite the unsteady state of the global financial markets, the worldwide telecommunications industry is expected to continue expanding over the next five years as growth of wireless services in emerging markets offsets the spending slowdown in the advanced economies

 

According to the new industry market study, overall telecommunications services revenues are expected to grow at a compounded rate of nearly 13.8 percent over the next few years, reaching $3.7 trillion by 2015. 

 

Rosenberg said that telecom is as necessary to development as roads and bridges, hence the expectation for it to fare much better than other economic segments that may take longer to return to normalcy.

“The 2010 Telecommunications Industry Review: An Anthology of Market Facts and Forecasts' report found that wireless makes the strongest showing while wireline follows a distant second. Nearly all of the growth in both sectors is expected to occur in broadband services, with wireless broadband service revenues expected to grow at a compounded rate of more than 62 percent over the forecast period, while wireline broadband services grow at a six percent rate over the same forecast horizon. 

It states that even amidst the current economic uncertainty the fact remains that telecommunications is a key input factor in economic growth. Telecommunications is a facilitator of socio-economic advancement and is a critical utility for economic development, much like water and energy.

It is on the basis of telecommunications as a lynchpin in the eventual economic recovery that Insight Research projects continued carrier revenue growth. An excerpt, table of contents, and ordering information for this market research study of the global telecommunications industry are available online here.

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