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.
- Telephony has this story