Impact of COVID-19 on the Global Wireless Telecommunication Service Market
Wireless telecommunications services are services that enable message sending and receiving through a wireless medium with the assistance of an electronic device. Wireless telecommunication services provided by the industry players include wireless Internet access, cellular phone services, and wireless video streaming. Companies providing high-speed wireless connections at affordable rates are influencing the wireless telecommunication services market positively. These services are related to the maintenance and operation of switching and transmission facilities to deliver efficient telecom services through the air as a medium. Furthermore, the rising demand for wireless telecommunication devices and related services due to the increasing adoption of work from home policies is projected to boost the market growth over the projected timeframe.
The requirement for wireless telecommunication services is currently on the. However, this requirement is expected to be hindered due to the reduction in the expenditure budgets of telecom companies owing to full/partial lockdowns imposed worldwide. The lockdowns have also caused severe losses to the industry players across the globe. The enforcement of lockdowns in numerous countries of the world to curb the spread of COVID-19 has placed restrictions on public gatherings at international events, theatres, concerts, and music festivals, which is hindering the market growth. However, supportive government policies are projected to stimulate the growth of the wireless telecommunication services market over the forecast timeframe. Furthermore, the market exhibits a notable recovery rate, which is mainly attributed to the adoption of remote working policies by many industry players to prevent the spread of COVID-19 at workplaces. However, the industry is certainly expected to face challenges during the forecast period due to the outbreak of COVID-19.