PwC – Perspectives from the Global Telecom Outlook, 2025–2029

This report analyzes the global telecom industry outlook for 2025 to 2029.

Key findings include significant growth in global telecom traffic, flat or declining average revenue per user (ARPU), and the emergence of AI and data centers driving a new infrastructure investment super-cycle. Telecom operators are adopting simpler portfolio models and AI-native operations platforms to remain competitive. Revenue is expected to grow from US$1.15 trillion in 2024 to about US$1.32 trillion in 2029 with a CAGR of approximately 2.8%. Structural challenges like flat-to-declining ARPU require cost control, product simplification, legacy system shutdowns, and vendor consolidation, while AI integration offers opportunities to reduce costs and optimize capital allocation.