According to Infoholic Research, the Indian telecom service market is expected to reach $103.90 billion by 2020. The market is expected to grow at a compound annual growth rate of 10.3 per cent between 2015 and 2020.
Further, wireless service market in the country is expected to reach $39.02 billion by 2020 growing at a CAGR of 9.3 per cent. The market is largely going to be driven by verticals such as information technology and information technology-enabled service, retail, government, and banking, financial services and insurance (BFSI). The research firm has noted that among various industries, BFSI, in particular, is increasingly using mobile applications to engage customers. Going forward, telecom revenue from BFSI segment is expected to reach $15.16 billion by 2020 with a CAGR of 6.6 per cent from 2015 to 2020.
