Wireless telecommunication industry provides us with services such as cellular phone services, wireless video and wireless internet access. Wireless telecommunication operates on various carriers on 3G and 4G technology networks. We generally face two types of customers either on contracts or post-paid customers and prepaid or pay-as-you-go customers. In 2020, global wireless telecommunication services market is expected to grow to approximately $1000 billion. The point of sale is expected to grow with the increase in mobile payments in this market. Mobile payment sales are expected to grow exponentially, particularly in the USA because of the tremendous growth in the number of users of the technology.
Apple Pay, Android Pay and Samsung Pay are the Mobile wallets which are likely to become a standard feature on new smartphones, as proposed by the e-Marketer research. Point-of-sale are also likely adopted by the merchants likely to accept the mobile payments. Incentives like promotions and loyalty programs will be integrated to attract new users to encourage and promote the need of m-payments.
Almost 55% of the total market share in the market is made up by the top nine competitors in 2016. The largest competitor was the China mobiles with nearly 12% in the market. They are followed by the Verizon communications, Softbank group corp, Deutsche Telekom AG and AT&T. The emergence of fifth-generation mobile networks (5G) is the biggest forthcoming change in the telecommunication industry. 5G is expected to grow larger than the trending 4G technology. It will take some time to adopt this technology to become commercially and officially available. We can expect a better latency from 5G. The emerging generation’s mobile network provide better capacity that is needed to support the IoT (Internet Of Things).