Revenues in the Telecommunications industry have experienced strong growth over the past years. Before the 2008 financial crisis almost every company in the industry experienced double digit growth in both revenues and market penetration. This trend has not only been seen in North America, but also in almost every single market in the world with the Asia Pacific Region being the strongest growth force. In 2008 the Telecomm market in the Asia Pacific region surpassed the long standing biggest telecomm market of North America in both profits and market penetration. For example market penetration in Hong Kong was already of 119% in 2005 while market penetration in the United States today is about 93%.
During the recession in 2008, telecommunication companies did not suffer; both their revenues and subscribers increased at very positive levels although not at a double digit rate. It is clear that Telecommunications have become such a vital aspect of human life that customers widely consume telecomm services even in the harshest economic conditions. Global telecommunication revenues surpass $5 trillion today.
In the U.S, verizon on its own reported a revenue of $23.8 billion as of 2006. Verizon growth of 15% growth was powered due to the incresing demand for wireless services and fiber based internet.
No one can deny the telecommunication sectors became the essential part of human life. Thus, there will be increasing demand for more advanced telecommunication sector, and it directly causes huge revenue for companies
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