An increasing number of mobile subscribers is predicted to contribute to the growth of the global telecom services market over the forecast period. According to the Cisco Annual Internet Report, the number of mobile subscribers across the globe is expected to increase from 5.1 billion (66% of the population) in 2018 to 5.7 billion (71% of the population) by 2023. According to data released by the Telecom Regulatory Authority of India (TRAI) in October 2020, Reliance Jio became the first mobile service provider to cross the 40 crore customers in India with the addition of over 35 lakh subscribers in July 2020. Therefore, growing mobile phone subscribers are projected to increase the overall demand for the cellular or mobile telephone services wireless industry globally.
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