The worldwide telecoms market is on track to be worth â‚¬1.4 trilion (US$2 trillion) this year, according to a Gartner report.
The report also said the Asia Pacific telecoms market is set to surpass North America this year, growing 8% to â‚¬361.1 billion (US$513.1 billion).
The fastest growing region is the Middle East and Africa, with a predicted CAGR of 8.6% between 2007 and 2012, Gartner said.
The decline in fixed line services is forecast to continue, with mobiles expected to outnumber fixed lines by at least a 4:1.
While revenue from mobiles is increasing - and is expected to top â‚¬703.68 billion (US$1 trillion) by 2010 - Gartner predicted that the mobile voice market will stagnate as a proportion of the market by 2012.
Data services in the legacy sector are now outgrowing both mobile and fixed-line services.
Asia-Pacific smartphone market meanwhile has declined 4.6% despite average worldwide increases of 15.7%.