Roaming Tariff Market: Europe Held The Largest Share
Roaming Tariff Industry Overview
The global roaming tariff market size was valued at USD 70.76 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. The rising number of mobile phone subscribers, international tourism, and government regulations are the significant factors expected to influence market growth. The advent and adoption of 5G are anticipated to be the primary growth driver in the coming years. In addition, network service providers are rolling out special roaming packages that provide cost-effective solutions to their users. Such solutions are expected to benefit the service providers as well as the subscribers, thereby resulting in market growth. The spread of COVID-19 in 2020 adversely affected the market, mainly due to international travel restrictions.
These international travel restrictions and lockdown imposed across several countries resulted in a shortfall in international roaming revenue in 2020. This trend is anticipated to continue in 2021 with the virus making a resurgence with a new variant, and prospects of a lockdown back on cards in several nations. Although towards the end of 2020, the situation began to improve, a new variant of coronavirus strain set the fear in with global travel restrictions once again looming over the industry.
Gather more insights about the market drivers, restrains and growth of the Global Roaming Tariff market
Another major challenge the industry faced came from a drop in business travel. Amidst the pandemic, business travel took a massive hit due to the newly minted work-from-home model and proliferation of virtual conferences/events. Similarly, several major international events, such as the 2020 Summer Olympics, Euro 2020, Beijing International Automotive Exhibition, and Geneva International Motor Show, were either postponed or canceled, further impacting the market growth.
The market is expected to witness new growth opportunities in the coming years as the events postponed in previous years are conducted along with other scheduled events. In addition, the international tourism industry is also expected to experience a spike triggered by a large number of international travelers that couldn’t travel due to the pandemic. International tourism is one of the leading drivers of socioeconomic progress. According to the International Trade Center (ITC), international tourism accounts for almost 30% of the global trade services. World Tourism Organization (UNWTO), a United Nations agency, is known for promoting sustainable and universally accessible tourism and driving economic growth. Thus, the market is expected to experience significant growth, aided by the tourism industry, once the traveling restrictions are lifted and the majority of the global population is vaccinated.
Several countries had to postpone the roll-out of 5G technology, which was scheduled for 2020. Several European countries including Spain, U.K., Austria, and Portugal, among others had announced delayed roll-outs of 5G due to the pandemic. 5G is a high potential, high-speed network that is also cost-effective, and, therefore, expected to be used widely. Furthermore, 5G ensures high frequencies, better coverage, and enhanced network capacity. Owing to the aforementioned benefits, the roll-out of 5G is anticipated to have a huge impact on the market over the forecast period.
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Roaming Tariff Market Segmentation
Grand View Research has segmented the global roaming tariff market on the basis of roaming type, distribution channel, service, and region:
Roaming Tariff Roaming Type Outlook (Revenue, USD Million, 2017 - 2028)
- National
- International
Roaming Tariff Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
- Retail Roaming
- Wholesale Roaming
Roaming Tariff Service Outlook (Revenue, USD Million, 2017 - 2028)
- Voice
- SMS
- Data
Roaming Tariff Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Roaming Tariff market include
- AT&T Inc.
- Bharti Airtel Ltd.
- China Mobile Ltd.
- Deutsche Telekom AG
- T-Mobile
- Telefonica SA
- Vodafone Group plc
- Verizon Communications Inc.
Order a free sample PDF of the Roaming Tariff Market Intelligence Study, published by Grand View Research.
About Grand View Research
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