A recent report published by Pyramid Research has highlighted that with the continued growth of the emerging markets and the corresponding growth of their telecoms industries, it is estimated that when 2015 hits, the total revenue produced by these markets will surpass that of developed countries.
The report – “Pyramid Perspective 2013: Top Trends in the Global Communications Industry” explains that “Exposure to emerging markets has become a critical factor for success in an industry characterized by stagnation in developed markets, intense competition, consumer choice and disruptive business models”. This was the basis for the belief that developing countries will see a continued growth in their telecoms industries that will outpace developed countries by a rate of 5 to 1.
The Managing Director of Pyramid Research, Daniel Amparan stated that 2013 will be a year of continued innovation and increased expertise in the telecoms industry for these countries, including Nigeria, who are thought to be among the fastest growing. He particularly highlighted that milestones that will be hit within the year – “Mobile subscribers in Africa & the Middle East region will surpass the one billion mark in the first quarter, making it the second region to reach this milestone after Asia-Pacific.”
These are exciting times for those in these markets, which is also set to see an increase in foreign investment. This will improve the infrastructure within of telecoms industry making it faster and potentially more stable. We will also likely see a heightened competitiveness for subscribers. For consumers, this will only be good news, as service providers will aim to provide lower costs packages and increased value.