U.S. Telecom Services Market Will Grow Rapidly In Coming Years

 U.S. Telecom Services Market Summary

The U.S. telecom services market size was estimated at USD 468.08 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2030. Market expansion is strongly supported by the presence of leading telecom service providers in the country, including Verizon, AT&T, T-Mobile, and several others. These companies are consistently focusing on mergers, acquisitions, and product innovations to enhance their revenue shares and competitive positioning. They are also expanding their geographical presence through the installation of communication towers and the establishment of research and development centers. For example, in January 2024, DISH Wireless secured a USD 50 million grant from the U.S. Department of Commerce’s National Telecommunications and Information Administration to develop the Open RAN Center for Integration & Deployment (ORCID), underscoring the government’s support for telecom innovation.

The U.S. accounted for a 24.83% revenue share in the global telecom services market in 2023, reflecting its strong leadership. The rapid growth of the smartphone ecosystem and the rising demand for high-speed connectivity have encouraged significant investments in 5G infrastructure by service providers. According to a report by BCG, the U.S. 5G sector is expected to contribute between USD 1.4 trillion and USD 1.7 trillion in economic growth by 2030. Moreover, a 2023 report by The Brattle Group projected that mobile traffic would increase six-fold by 2033, highlighting the urgent need for robust telecom infrastructure. In response, telecom companies are already exploring and planning the deployment of 6G technology through strategic collaborations and research initiatives, creating additional avenues for future growth.

Key Market Trends & Insights

  • In terms of transmission, the wireless segment held the largest revenue share of 75.9% in 2023. The expansion of Wireless Local Area Networks (WLANs), particularly across public venues such as airports, cafes, and office complexes, has played a central role in supporting the segment’s dominance. Consumers and businesses alike increasingly depend on wireless connectivity for seamless access to communication, information, and entertainment.
  • By end user, the consumer/residential segment accounted for the largest revenue share of 58.0% in 2023. This was driven by the rising penetration of smartphones and the growing adoption of smart home technologies in the U.S. The increasing integration of IoT-enabled devices, including smart locks, thermostats, and home security systems, requires reliable internet connectivity to ensure real-time monitoring, automation, and convenience. Telecom services have therefore become essential for enabling connected lifestyles and supporting digital transformation at the household level.
  • In terms of services, mobile data services captured the largest revenue share of 33.5% in 2023. The surge in smartphone usage among consumers and the growing preference of business professionals for 5G-enabled devices, which provide faster speeds and greater reliability, have fueled demand in this segment. Enhanced mobile connectivity is enabling seamless digital communication, remote work, and business productivity, solidifying the role of mobile data services in the telecom market.
  • The fixed internet access services segment also accounted for a notable revenue share in 2023. This was driven by rising demand for internet connectivity within households, coupled with the growing use of connected devices across the U.S. However, a considerable section of the U.S. population still lacks access to reliable and high-speed broadband at home, representing a major opportunity for telecom providers to expand fixed internet access and reduce the digital divide.

Order a free sample PDF of the U.S. Telecom Services Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

  • 2023 Market Size: USD 468.08 billion
  • 2030 Projected Market Size: USD 725.68 billion
  • CAGR (2024 - 2030): 6.6%

Key Companies & Market Share Insights

Leading companies in the U.S. telecom services market include AT&T, Inc.; Verizon Communications, Inc.; Comcast Corporation; and T-Mobile. AT&T Inc., headquartered in Dallas, Texas, operates across three major business segments—communications, Latin America, and WarnerMedia. Its communications division provides wireline and wireless telecom, video, broadband, and IP-based services to both business and residential users, under brands such as AT&T PREPAID and DIRECTV. Verizon Communications, Inc., headquartered in New York City, offers communications and entertainment products and services across wireless and wireline business units, catering to consumers, enterprises, and government agencies.

Other notable players include United States Cellular Corporation, Charter Communications, Lumen Technologies, Inc., and Altice USA, Inc. Altice USA, headquartered in New York, provides broadband communications and video services under the Optimum brand to nearly 5 million customers across 21 states, offering mobile, VoIP, internet, and enterprise solutions. Lumen Technologies, headquartered in Louisiana, delivers network, cloud, voice, managed, and security services to a diverse client base, including businesses and government agencies, supported by a multichannel sales strategy that includes direct sales, partnerships, and digital marketing.

Key Players

  • AT&T Inc.
  • Comcast Corporation
  • Verizon Communications Inc.
  • T-Mobile US Inc.
  • Charter Communications, Inc.
  • United States Cellular Corporation
  • Lumen Technologies Inc.
  • Altice USA, Inc.
  • Cox Communications, Inc.
  • DISH Network Corporation

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The U.S. telecom services market is set for steady growth, backed by the expansion of 5G infrastructure, increasing mobile data consumption, and growing reliance on wireless connectivity across households and enterprises. Major service providers are driving innovation through mergers, acquisitions, and partnerships while preparing for the adoption of next-generation 6G technology. Strong demand from consumer and residential users, particularly with the rise of IoT and smart homes, will continue to shape market demand. With fixed internet expansion targeting underserved communities and government support for R&D, the market outlook remains highly favorable, presenting vast opportunities for sustained innovation and growth.

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