Telecom Towers Market: Introduction
The global telecom towers market was valued at US$ 138.5 Bn in 2019. It is anticipated to expand at a CAGR of 5% during the forecast period. Based on installation, the ground mounted segment dominated the global telecom towers market in 2019. Ground mounted towers are taller as compared to roof-mounted towers, and cover a significantly large area. They also accommodate several antennas on a single tower. The segment is also anticipated to be highly attractive during the forecast period. In terms of ownership, the TowerCo segment accounted for a leading share of the global telecom towers market in 2019. This can be primarily ascribed to increase in investments in telecommunication towers by the TowerCo Company. TowerCo operates a considerably high number of telecom towers globally.
Based on tower type, the lattice towers segment dominated the global telecom towers market in 2019. Lattice towers are self-supporting and can withstand high amount of pressure and external force. The segment is also likely to be highly lucrative during the forecast period. The telecom towers market in Asia Pacific is estimated to expand at a substantial pace during the forecast period, owing to high investment in the telecommunication industry in the region. China has the highest installed base of telecom towers in the world. Moreover, an increase in subscriber base and tele-density, especially in rural areas, is anticipated to boost the demand for telecom towers in Asia Pacific.
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Key Drivers of Telecom Towers Market
The rise in the use of IoT and investments in 5G technologies is anticipated to boost the global telecom tower market in the next few years. Technologies such as 5G and IoT require powerful network performance, which has triggered the need for a diverse infrastructure mix, especially telecom towers. More than 4.57 billion people around the world currently use the internet and most of them use mobile devices to go online. The demand for data is expected to increase significantly by 2024. This increase in demand for data is projected to fuel the demand for new infrastructure and services. The expected rollout of 5G services in 2023 is anticipated to contribute to the deployment of a large number of micro towers in order to support bandwidth requirements. The deployment of outdoor micro towers in India is likely to reach around 250,000 units by 2023.
In India, investments in the telecom towers market is rising to meet the 5G technology infrastructural needs. Deployment of fiber optics and micro mobile towers is likely to rise in the near future. Thus, demand for telecom towers is projected to rise significantly in the telecommunication industry in the near future. This, in turn, is likely to augment the global telecom towers market during the forecast period.
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Asia Pacific Offers Lucrative Opportunities to Telecom Towers Market
Asia Pacific is anticipated to be a highly attractive region of the global telecom towers market during the forecast period. The telecom towers market in Asia Pacific is estimated to expand at a significant pace between 2020 and 2030, due to expansion of the telecommunication industry. Investments in Internet of Things (IoT) and 5G technologies have been increasing in Asia Pacific. This is expected to boost the demand for telecom towers in the region.
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Major Developments in Telecom Towers Market
On February 13, 2019, Phoenix Tower International (PTI), acquired 600 wireless communication tower sites from Trilogy’s Bolivia-based subsidiary, NuevaTel. This acquisition is expected to expand the company’s footprint in Latin America. On March 25, 2020, Vodafone Group, Telecom Italia Group (TIM), and Infrastrutture Wireless Italiane S.p.A (INWIT) completed the merger of Vodafone Italy’s towers into INWIT. The merger is expected to enable INWIT to become Italy’s largest tower operator and would focus on maximizing tower utilization.
Competition Landscape of Telecom Towers Market
The global telecom towers market is moderately fragmented. Different international and local players operate in the global telecom towers market. Some of the major players operating in the global telecom towers market are Bharti Infratel Limited, Helios Towers Africa, American Tower Corporation, SBA Communications Corporation, AT&T Inc., GTL Infrastructure Ltd, T-Mobile Towers, Phoenix Tower International, Crown Castle International Corporation, and China Tower Corporation.
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