The telecommunications industry within the sector of information and communication technology is made up of all telecommunications/telephone companies and internet service providers and plays the crucial role in the evolution of mobile communications and the information society.
Traditional telephone calls continue to be the industry's biggest revenue generator, but thanks to advances in network technology, Telecom today is less about voice and increasingly about text (messaging, email) and images (e.g. video streaming). High-speed internet access for computer-based data applications such as broadband information services and interactive entertainment, is pervasive. Digital Subscriber Line (DSL) is the main broadband telecom technology. The fastest growth comes from (value-added) services delivered over mobile networks. 
The telecom sector continues to be at the epicenter for growth, innovation, and disruption for virtually any industry. Mobile devices and related broadband connectivity continue to be more and more embedded in the fabric of society today and they are key in driving the momentum around some key trends such as video streaming, Internet of Things (IoT), and mobile payments.-- Deloitte
Think of telecommunications as the world's biggest machine. Strung together by complex networks, telephones, mobile phones and internet-linked PCs, the global system touches nearly all of us. It allows us to speak, share thoughts and do business with nearly anyone, regardless of where in the world they might be. Telecom operating companies make all this happen.-- Investopedia
Of all the customer markets, residential and small business markets are the toughest. With hundreds of players in the market, competitors rely heavily on price; success rests largely on brand name strength and investment in efficient billing systems. The corporate market remains the industry's favorite. Big corporate customers are concerned mostly about the quality and reliability of their telephone calls and data delivery while being less price-sensitive than residential customers. Multinationals, spend heavily on telecom infrastructure and premium services like high-security private networks and videoconferencing. Network connectivity can also be provided to other telecom companies by wholesaling circuits to heavy network users like internet service providers and large corporations. 
|segment||% share of revenues|
|Infrastructure and platform vendors||5|
|Over-the-top content (OTT), content, advertising services||10|
|Retail and distribution||10|
|Company||Country||Market value ($ Bn)||Revenue||Profit|
|Nippon Telegraph & Tel||Japan||58.2||127||5.6|
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