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Furthermore, amid the ongoing 5G race, telecom giants have been commercially deploying 5G to secure and/or maintain high market shares. With next-generation connectivity deployment and constant innovation, the global telecom market is expected to reach $2713.53 billion in 2021, growing at a 6.2% CAGR.
The current global semiconductor shortage and trade restrictions with major producers such as China have been significant headwinds for the domestic telecom industry. Conversely, foreign operators Nippon Telegraph and Telephone Corporation (NTTYY) and América Móvil, S.A.B. de C.V. (AMX) have demonstrated impressive performance and we think are likely to grow further in the coming months.
