Published on : Aug 28, 2018
Albany, New York, August 28, 2018: Over the years, prepaid wireless service has gained popularity because of the advantages it offers consumers. It is well-known that more than half of the global population own smartphones today. Smartphone owners are spending more and more time on their device for social networking and calling purposes. This, in turn, has given a boost to prepaid wireless service across the globe. To elaborate further, Market Research Hub (MRH) has broadcasted a study titled “Prepaid Wireless Service Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” to its massive repository, which majorly aims to provide comprehensive insights into the market current scenario and future growth prospects during the mentioned forecast period.
Globally, Mobile owners are opting for prepaid wireless services over postpaid due to affordability and flexibility to switch operators. Increase in use of Internet-based services due to the availability of advance LTE networks and demand for affordable voice and data plans are responsible for the rise in the use of prepaid wireless services. Considering these facts, analysts find that the global prepaid wireless service market is expected to reach US$ 659.1 Bn by 2026. In addition, the market value is anticipated to expand at a steady CAGR of 4.3% during the forecast period from 2018 to 2026.
Geographical and Segmental Outlook
Moreover, some of the primary regions are analyzed for the purpose of evaluating the impact of the different factors mentioned in the research report. Regions highlighted in the study are North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America. The research study finds that Asia Pacific has the largest subscriber base for prepaid wireless service in the world. The region has the largest population in the world, therefore makes it the largest market for prepaid wireless service as well. One of the prime factors behind this growth is the rising smartphone penetration. Moreover, with cheaper voice and data plans available, mobile owners are opting for prepaid services over postpaid.
The research also examines that the market is expected to grow largely due to the shift of consumer preference from postpaid to prepaid services, largely in the regions of North America and Europe.
As the research proceeds, the market has been analyzed on the basis of key segments including connectivity and type. In terms of connectivity, the market is segmented into 2G, 3G, and 4G connectivity. Based on type, the market is segregated into data and voice. Based on connectivity, the study reveals that as large populations around the globe become active users of internet, the demand for affordable and fast data plans will increase, which in turn will increase the demand for 4G, 4.5G, and 5G connectivity services.
Another vital section of the report is competitive landscape featuring some of the top companies, their products and business strategies, and their standing in the global market. Bharti Airtel Limited, Emirates Telecommunication Group, AT&T Inc., China Mobile Communications Corporation, Sprint Corporation, Telenor ASA, Verizon Wireless, T-Mobile International AG, Deutsche Telekom, Vodafone Group plc, Orange S.A., Telefónica, S.A., Telstra Corporation Ltd., Axiata Group, and América Móvil are prime players active in the industry.
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