Tower market to grow at 4.56% CAGR from 2019-24
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The global telecom tower market is on track to grow at a CAGR of over 4.56% between 2019 and 2024, according to Research and Markets.
In a new report, the research firm stated that tower sharing has become one of the major growth drivers for the telecom industry as the tower leasing concept takes hold.
This leasing concept has enable mobile operators to invest heavily in developing their infrastructure in rural areas, which is in turn bringing in new revenues to tower operators.
Major market trends include expected significant growth in demand for lattice telecom towers, designed to manage heavy loads making them suitable for central communication hubs and backbone sites in disaster-prone areas.
The primary purpose of a lattice tower is to support more than one antenna for communication purposes.
The report also notes that the telecom tower market is currently highly competitive, with several major players dominating the market in terms of total share. These include India’s Bharti Infratel, China Tower – the joint venture established to operate the towers of China’s big three mobile operators, Helios Towers Africa and American Tower Corporation (ATC).
Questions & Answers
Q.What is the expected growth rate for the global telecom tower market?
What is the expected growth rate for the global telecom tower market?
The global telecom tower market is forecast to grow at a Compound Annual Growth Rate (CAGR) of over 4.56% from 2019 to 2024. This projection comes from a new report by Research and Markets.
Q.What is a key factor driving growth in the telecom tower industry?
What is a key factor driving growth in the telecom tower industry?
Tower sharing is a major growth driver, as the tower leasing concept is gaining traction. This allows mobile operators to invest significantly in rural infrastructure, generating new income for tower operators.
Q.Which specific type of telecom tower is expected to see significant demand increase?
Which specific type of telecom tower is expected to see significant demand increase?
There is an expected significant growth in demand for lattice telecom towers. These are designed for heavy loads, making them suitable for communication hubs and backbone sites, especially in disaster-prone regions.
Q.Which companies are considered major players in the telecom tower market?
Which companies are considered major players in the telecom tower market?
Major players dominating the highly competitive market include Bharti Infratel from India, China Tower, Helios Towers Africa, and American Tower Corporation (ATC). These hold a significant total market share.
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