- The US telecom market is growing steadily, expected to reach USD 530.61 billion by 2029, driven by investments in research and 5G adoption.
- Major companies like AT&T, Verizon, and Comcast are expanding network infrastructure to meet increasing demand for connectivity.
- Trends such as 5G deployment and cloud computing are changing the market, offering opportunities for innovation and growth.
The US telecommunications market is a dynamic and rapidly evolving landscape, driven by technological advancements, changing consumer demands, and intense competition among key players. As the world’s largest economy, the United States boasts a thriving telecom sector that serves as a vital engine for innovation and economic growth.
US telecom market overview
Acoording to Mordor Intelligence, a market intelligence and advisory firm, the US telecom market size is estimated at USD 443.12 billion in 2024, and is expected to reach USD 530.61 billion by 2029, growing at a CAGR of 3.67% during the forecast period (2024-2029), which is propelled by significant investments in research and development by major telecom companies.
The adoption of 5G technology is a key driver shaping the US telecom market. Major players like AT&T, Verizon, T-Mobile, and US Cellular are already laying the groundwork for the deployment of next-generation 6G through strategic alliances.
To meet the growing demand for faster networks, the US telecom industry has made significant strides in expanding network capacity through fiber and wireless deployments. Traditional telecom companies like AT&T, Verizon, and T-Mobile have been at the forefront of infrastructure expansion, while tech companies like Amazon, Facebook, Google, and Space X are gradually entering the space, leveraging their existing infrastructure.
Also read: AT&T’s ORAN shift: A game-changer for telecom giants
Market trends shaping US telecoms
5G is expected to have a significant economic impact on future American prosperity, akin to the commercialisation of the internet 25 years ago. Major telecom companies are investing heavily in deploying 5G infrastructure to support the next stage of the digital revolution.
The construction of the country’s 5G network is well underway, with major operators like T-Mobile leading the way in terms of coverage. With peak data speeds up to 20 times faster than 4G and a ten times higher network connection density, 5G holds immense potential for economic growth, innovation, and improved customer experience.
Also read: How does 5G technology enhance the Internet of things (IoT)?
Cloud computing is on the rise in the United States, driven by factors such as remote work trends and improvements in mobile networking. Telecom companies are expanding their partnerships with cloud service providers to leverage 5G and edge computing capabilities. For example, Verizon and Amazon Web Services have collaborated to create Verizon 5G EDGE, aiming to enhance connectivity and application performance.
Also read: How does cloud computing help IoT devices?
Current market players of US telecoms
AT&T, Inc.; Verizon Communications, Inc.; Comcast Corporation; and T-Mobile are the major providers of telecom services in the United States.
AT&T, Inc., based in Dallas, Texas, is a global telecommunications, media, and technology service provider, operating across three main business segments: communications, Latin America, and WarnerMedia. In the communications domain, AT&T delivers wireline and wireless telecom, video, broadband and internet services, alongside IP-based and video streaming services through satellites, catering to both business and residential clientele under the AT&T PREPAID, AT&T, and DIRECTV brands.
Market share: 47%.
Verizon Communications, Inc., headquartered in New York City, is a mobile communication service provider. Verizon, along with its subsidiaries, offers an array of communication, information, and entertainment products and services to consumers, businesses, and government agencies. With a focus on three core business segments – wireless, wireline, and corporate & others, Verizon provides wireless communications products and services, as well as security & managed network services, video & data services, and domestic & long-distance voice services.
Market share: 29%.
Other significant players in the market include United States Cellular Corporation, Charter Communications, Lumen Technologies, Inc., Altice USA, Inc., etc.
Market share: 24%.
