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US vendor group sees first-ever slide in global revenue
Perhaps it doesn't feel like the telecom industry has been hit too hard during this particular economic recession, but just how bad is it?
The US Telecommunications Industry Association (TIA) - whose primary membership is network equipment vendors - released its annual report and outlook for the global telecommunications industry, and it shows a decline in worldwide revenue for 2009, a first in the more than 20-year history of the TIA report.
The anticipated 3.1% overall drop this year is at least partially due to a 27% fall in the US broadband equipment market.
The negative news is significant, because the global report usually manages to find a silver lining somewhere in the world that makes up for whatever markets might be experiencing difficulty.
If there's a silver lining in this report, it's the expectation that strong growth lies ahead, with global revenue predicted to grow 1.2% in 2010, 6.4% in 2011 and 7.9% in 2012.