Global telecommunications services revenue will grow to $2.7 trillion (£1.8 trillion) in 2017, according to a report from Insight Research. Revenues are projected to reach $2.1 trillion in 2012, with a CAGR (combined average growth rate) of 5.3 per cent across the following five years.

Mobile revenue will grow by 64 percent from current levels, the report claims, driven by increasing numbers of mobile subscribers, especially in Asia and other emerging markets. Wireless 3G and 4G broadband services will drive this growth, with a projected CAGR of 24 percent over the forecast period.

“Despite global economic uncertainty, the telecommunications industry is showing strong revenue growth, which is being driven by consumer internet usage and business mobility solutions,” says Fran Caulfield, research director for Insight Research. ”The fact remains that telecommunications is a key factor in economic growth. Telecommunications facilitate socio-economic advancement and are a critical utility for economic development, much like water and energy.”

The full report can be found here.