电信收入增长：通信服务提供商是否正在‘重返未来’？基准报告

Benchmark Report Authors:Mark Newman, Chief AnalystRichard Webb, Senior Analyst Editor:Ian Kemp, Managing Editor Contents 3The big picture6Key report findings and recommendations7Section 1:Making sense of a $1.8 trillion market9Section 2:B2C sector marks modest growth15Section 3:B2B: Operators still striving to offset legacy services decline About our sponsor processes and subscriptionmanagement for telecom andother digital services industriescreating opportunities beyondconnectivity. Tecnotree alsoprovides Fintech and B2B2Xmulti-experience digital Tecnotree is a 5G-ready digitalBusiness Support System (BSS)player, with AI/ML capabilitiesand multi-cloud extensibility.Tecnotree leads the way on theTM Forum Open API Conformancewith 59 certified Open APIsincluding 9 real-world open APIs,a testament to the company’scommitment to excellence, and To learn more about Tecnotree’s viewof the best opportunities to growrevenues and new lines of business The big picture The first two quarters of 2025, like the whole of 2024, marked a marginal improvement in telecoms operatorrevenues, both in consumer and enterprise markets. The recovery comes partly as a result of greater stabilityin some national markets – such as Germany, Japan and the US – resulting from operator consolidation. That In this, our fifth annual reporttracking revenues and revenuegrowth strategies, we have It is also worth noting that thethree Chinese operators includedin our analysis – which account saw revenue growth halve from6% in 2023 to 3% in 2024. In total, 29 of the 35 CSPsreported service revenue growth analyzed the financialperformance of 35 of theworld’s largest operators.They account for $1.1 trillion inrevenues – a little over 60% of The service revenues of these 35CSPs grew by 2.5% in 2024,marginally above the 2.4%recorded in 2023. But theperformance gap between the two years is wider once inflationis taken into account. Based ondata from the World Bank, global The big picture Of the CSPs tracked, 14 recordedtotal service revenue growthabove the inflation rate of their The recovery in B2C revenuegrowth is particularly noteworthygiven that our analysis of 2023 recovery was most noteworthy inEurope, North America and Japan– countries and regions which In our analysis of the 35 CSPs wehave tried to capture segment andsub-segment revenues within B2Band B2C service categories.However, not all provide revenuebreakouts. For the 17 (B2C) and 20 However, the total service revenuegrowth of these operators wasabove that of the entire base of35 operators. As such, we believe The big picture entrants in recent years but wheremarkets stabilized in 2024. Methodology In addition to the financialresearch, we conducted a surveyof CSP executives to assess wherethe industry believes its bestprospects for growth lie. Wegathered data from 129 individual Our revenue growth data is basedon analysis of the financial resultsof 35 of the world’s largest CSPsand operator groups. Their addition, due to M&A activity,many CSPs we tracked have adifferent business compositionthan they did in previous years, Our data came from interim andannual reports and other investorpresentations and events. Not allCSPs report separate revenue forB2C and B2B services in theirannual reports. Where we refer to While total service revenue datawas available for all operators, veryfew operators systematicallypublish revenues for their new Read this report to understand: •CSPs’ current trends to driverevenue growth•B2B and B2C market dynamicsand service growth•CSPs’ progress in developingnew lines of business for growth The revenue data in this researchis all presented in US dollars (US$).To eliminate the influence ofcurrency exchange ratefluctuations against the dollar weused a common historic exchange We have been tracking therevenues of most of these CSPssince 2018, and many have madesignificant changes to how theyreport their B2C and B2Brevenues. As such, historical Key findings and video platforms, and the resale ofthird-party entertainment servicesis generating wafer-thin profitmargins. Mobile financial servicesare an important business for all adding value to telecoms The B2C market recovered in 2024.Its ability to grow at thesame rate in the next couple ofyears will depend on a) whetherCSPs can continue to impose pricerises, principally on their contractcustomers, and b) their ability to networks.The evidence to date isthat strategies that involveleveraging customer relationships tocross-sell new or third-partyservices has been unsuccessful, Managed security servicesrepresented the biggest strategicfocus to generate new revenuesfor CSPs in 2024,as they took In the past two to three years theindustry has moved away from a“customer relationship”diversification strategy towardsone based on the performance and Mobile virtual network operators(MVNOs) continue to be the priceleaders in markets whereregulators allow them tocompete.Operators tend t