Source: https://www.consultancy.uk/news/26481/global-telecom-industry-takes-31-billion-hit-due-to-covid-19
05 January 2021 Consultancy.uk
The Covid-19 pandemic has dented a major blow to the global telecoms industry, wiping off £31 billion in revenues according to a new study from Analysys Mason. While the outlook for 2021 is better, spurred by booming activity in the connectivity and remote working segment, it will take the industry up to 2023 to return to its pre-Covid-19 level.
Analysys Mason’s research found that the industry saw a $43 billion (£31 billion) fall in 2020 when compared to 2019’s figures, representing a 2.7% drop overall. With everyone forced to stay at home for most of the year, revenue from several segments such as roaming, pre-paid, and voice have all sunk.
The pandemic did lead to a stellar rise in connectivity demand, although the income growth wasn’t large enough to offset the other segments.
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