The global internet services market was valued at approximately USD567 billion in 2016 and is expected to reach almost USD788 billion by 2021.
Procurement market intelligence analysts have announced its latest market research report on Internet services for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global Internet services market during the forecast period. Some of the top vendors listed in this industry analysis include AT&T, Verizon, and China Telecom.
In terms of geographical analysis, APAC is the largest shareholder in the global market, with a market share of around 46%. India and China accounted for almost 30% of the Internet users in the region during 2016.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “Partnerships between ISPs and data brokers is an emerging trend in the global Internet services market. Many large suppliers in the industry are forming partnerships and collaborations with organizations that specialize in the utilization of Big Data. Suppliers such as AT&T, Verizon, and Comcast collect customer information such as location, interests, and social information, and sell it to marketers.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Widening mobile network coverage and increasing mobile internet adoption
Internet services have evolved much beyond the conventional fixed line networks with advancements in technology. Expanding mobile network coverage is resulting in an exponential increase in the number of mobile Internet users across the globe. Approximately 45% of the world’s population are anticipated to have access to the internet by 2016, with around two billion mobile Internet users. Governments around the world are making investments in the establishment of fiber networks to enable high-speed Internet access. The development of public Internet services and private Wi-Fi is also expected to give users access to cheaper, more efficient technologies.
Developing countries driving growth of the Internet
Developing countries such as China and India the leaders in terms of growth in the Internet sector. By mid-2016, China, India, Brazil, Nigeria, Philippines, and Vietnam are expected to have Internet penetration levels beyond 50% of their population. The presence of a predominantly young adult population who use Internet services is the fundamental driving force behind this exponential growth in the Internet sector of these countries. Furthermore, access to the Internet is enhancing the efficient flow of information and leading in greater innovation in business processes. Improved Internet access has a positive impact on the operational efficiencies of business in developing countries.
Well-defined regulatory frameworks for internet usage
Regulatory bodies across regions are attempting to establish a healthy set of regulations to govern data collection, usage, and sharing practices of ISPs. The policies being formed are motivated by the desire to stimulate healthy competition between IPSs and maintain non-discriminatory market policies to attract long-term investments in the market. Suppliers in the market are also being encouraged to consult relevant stakeholders such as immediate end-users to educate them about the best-practices in providing services based on their needs and requirements.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Internet Services – Procurement Market Intelligence 2017.’
