Telecom service will have a good year in 2020, with spending growing by 0.7%. Driving the increase will be the wider adoption of 5G services in mobile telecoms – an area that will grow by 2.8% in the year. The strongest spending growth however will be on Enterprise service (3.8% to $28 billion worldwide).
Of all ITC suppliers Telecom vendors should do best in those countries in which new nationalism is driving politics, because they remain the most national companies in a globalized market. I expect a number of acquisitions of foreign subsidiaries in 2020 in countries such as the USA and the UK.