US telecommunication service revenues are forecast to rise 1.4% annually in nominal dollars through 2024, according to Telecommunication Services: United States, a report recently released by Freedonia Focus Reports. Gains will stem from the rollout of 5G services and the desire for faster internet connection speeds at home. The ongoing consumer shift from cable and satellite television service to internet service with separate video streaming service, such as Netflix, will constrain further growth. Though they are increasingly rare, service bundles can provide a significant boost to telecommunication revenues, luring customers to sign up for service that they otherwise would not have purchased. Bundling can also influence customers to keep services that they might have otherwise canceled. This comes at a cost, however, as it suppresses the price of services. In addition, contraction in the number of landline telephone and cable television connections and falling profit margins, particularly in the wireless segment, will prevent further gains. Furthermore, the availability of free over-the-air television and radio programming constrains higher demand.
Revenues from telecommunication resellers are expected to see annual increases of 3.2% to 2024, the fastest growth among discrete segments. Advances will be driven by the competitive pricing of cell phone plans from resellers compared with plans from major service providers.
These and other key insights are featured in Telecommunication Services: United States. This report forecasts to 2024 US telecommunication service revenues in nominal US dollars. Total revenues are segmented by mode of service in terms of:
other modes, such as non-broadband internet
To illustrate historical trends, total revenues and the various segments, and the number of firms, establishments, and employment are provided in annual series from 2009 to 2019.
Telecommunications services consist primarily of revenues generated by the provision of voice and text messaging, internet access, cable television transmission, and other information services (e.g., voicemail).