Telecommunications

Revenue in the global telecommunications services market size was estimated at $1.98 trillion in 2024, according to Grand View Research. The market research and consulting company predicts that revenue is projected to increase at a compound annual growth rate of 6.5 percent from 2025 to 2030, with revenue reaching $2.87 trillion by 2030. "Rising spending on the deployment of 5G infrastructures due to the shift in customer inclination toward next-generation technologies and smartphone devices is one of the key factors driving this industry," according to Grand View Research. "An increasing number of mobile subscribers, soaring demand for high-speed data connectivity, and the growing demand for value-added managed services are the other potential factors fueling the market growth."

The telecommunications industry has become essential for keeping people connected during the coronavirus pandemic. As more people have been working from home in the U.S., as well as around the world, the telecommunications sector has helped businesses, individuals, and societies to stay informed and connected. Increased demand for broadband, mobile, voice, and other services has contributed to the strong performance of the telecom sector during the pandemic. According to one industry report, the challenge for telecommunications companies going forward will be to balance the increased demand for the short term while managing their budgets to withstand an extended economic downturn.

The wireless telecommunications carriers industry is positioned well for growth during the next decade. A report by market research firm IBISWorld predicts that rising demand for wireless data services will offset the drop in demand for voice-only services, especially since more broadband-enabled devices like tablet computers and e-readers have wider penetration. "Wireless networks are supporting unprecedented growth in data traffic, hosting an extraordinary 100.1 trillion megabytes in 2023, marking the biggest year-over-year increase in history and an 89 percent increase since 2021," according to CTIA’s 2024 Annual Wireless Industry Survey. Growth in this will also be fueled by the ongoing implementation of fifth-generation (5G) technology. Forty percent of wireless connections were 5G as of year-end 2023, and more than 330 million Americans were covered by one or more 5G networks, according to CTIA.

Despite increasing demand for telecommunications services, employment in the telecommunications industry is expected to decline by 7.7 percent from 2023 through 2033, according to the U.S. Department of Labor (DOL). Job opportunities for telecommunications equipment and line installers and repairers is expected to decrease by 3 percent through 2033. The DOL says that "many of the recent 5G infrastructure upgrades and government-funded broadband internet expansion projects are completed, reducing the number of workers needed for new installations. In addition, newer telecommunications structures and technologies, such as fiber optic cables, require less frequent repairs and maintenance schedules." Employment may also be negatively affected somewhat by industry consolidations and strong price competition among telecommunications companies.

Some jobs will experience higher demand than others. For example, demand for radio, cellular, and tower equipment installers and repairers is expected to increase by 7 percent (faster than the average for all careers) from 2023 through 2033 due to continued growth in the construction of power and communications line and related structures. Information security analysts will experience high demand and employment growth in the coming years. The increased frequency of cyberattacks on telecommunications companies, other businesses, and consumers will create high demand for information security analysts. A vital industry issue will be the need to improve security on mobile and wireless networks without diminishing functionality and user experience. Job opportunities for information security analysts in the telecommunications industry are expected to grow by 10.4 percent from 2023 through 2033, or much faster than the average. Finally, employment for electrical and electronics engineers in the telecommunications industry is expected to grow by a whopping 19.2 percent from 2023 through 2033.

In 2023, the U.S. Department of Labor reported that only 5.9 percent of radio and telecommunications equipment installers and repairers were women. Women comprised only 11.6 percent of all electrical and electronics engineers and 19.3 percent of all information security analysts. This percentage is significantly lower than their representation (about 47 percent) in the U.S. workforce. Industry organizations—such as The WICT Network (a membership organization for women in media, entertainment, and technology) and the Wireless Infrastructure Association (which has a Women’s Wireless Leadership Forum)—are working to encourage more women to enter technical positions in the field. Opportunities are better for women at the professional level (i.e., managers and other white-collar positions), according to the NCTA-The Internet & Television Association. It reports that women comprised 46 percent of professional positions in 2024—up from 37 percent in 2019.

The DOL reports that the mean annual wage of workers in telecommunications was $84,550 in May 2023. The national average for all private sector workers was $63,098. Workers earned the following average salaries by occupational specialty:

• management: $160,670
• engineering: $112,410
• computer and mathematical: $107,460
• business and financial operations: $98,010
• installation, maintenance, and repair: $71,860
• sales and related fields: $66,480
• construction: $56,090
• office and administrative support: $55,690