Los Angeles, December 30, 2019 - “Global Telecom Towers Market Research Report 2019,” is the new report added by QY Research in its repository. The report states that the global Telecom Towers market was valued worth US$ 5.2 Bn in 2018 and is estimated to attain US$ 6.5 Bn by the end of 2025. The global Telecom Towers Market is anticipated to exhibit a sluggish CAGR of 3.1% from 2019 to 2025. Demand for high-speed internet connectivity is likely to boost the growth of the market.
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Global Telecom Towers Market – Growth Drivers
● Increasing demand for high-speed internet connectivity along with the availability of affordable smartphones
● Growing investment in smart city projects,particularly in developing countries
● Developing and investing in the infrastructure of LTE-A network connectivity and increasing base stations to improve services for end-users
Focus on Maximizing Coverage to Boost the Growth of the Type Segment
The type segment of the Telecom Towers market is divided into Lattice tower, Guyed tower, Stealth, and Monopole tower. Lattice tower and monopole tower provide service to a wider network as these towers offer maximum coverage to the service operators. Gaining more subscribers due to a single tower is likely to boost the adoption of these towers leading to the growth of the type segment. The application segment of the Telecom Towers market is classified into Ground-based and rooftop.
Digitization – A Major Reason Fostering Growth of the Asia – Pacific Market
Rapid digitization along with increasing need to strengthen network communication in rural and urban parts of the region has resulted in increasing demand for mobile network services in the Asia-Pacific. Evolving telecommunication from 2G mobile service to high-speed connectivity using 4G networks and the introduction of 5G is likely to boost the growth of the Telecom Towers market. Increased Government support and initiatives for promoting digitization to build strong foundation for new emerging technologies such as IoT, data analytics, machine learning, along with upgrading infrastructure to support 5G is likely to drive growth of the regional market.
The Telecom Towers market is expected to be highly concentrated due to the presence of key players. The companies are investing in technological innovation, resource sharing, and developing coverage solutions.
For instance, China Tower Corporation Limited has maintained a stable and healthy growth momentum by building on resource sharing and implementing integrated wireless communication coverage solutions.
Some of the major players operating in the Telecom Towers market are American Tower Corporation, Bharti Infratel, SBA Communication, MER, Valmont Industries, Crown Castle, Helios Towers Africa, Aster private Ltd, and China Tower Corporation.
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