Telecom Services
This utility-like industry builds and maintains the wired, wireless, and satellite infrastructure required to transmit voice, data, and video signals across global networks.
Why it exists
Telecom exists to move information—voice, data, and video—instantly across distance. It is the physical backbone of the digital economy.
Why it’s necessary
Every modern economic activity depends on connectivity: commerce, education, healthcare, finance, entertainment, defense, and logistics. Without telecom infrastructure, the digital layer collapses.
Key components
Wireless networks (4G, 5G, future 6G)
Fiber and broadband infrastructure
Towers, spectrum licenses, and backhaul
Network operations, billing, and customer service
How to evaluate businesses
Focus on average revenue per user (ARPU), churn, subscriber growth, network quality, spectrum position, and capital intensity. Free cash flow after capex is the real scorecard. Market structure (number of competitors) and regulatory constraints heavily shape profitability.
How the industry could be improved
More efficient spectrum use, infrastructure sharing at scale, software-defined networks, AI-driven traffic optimization, and real-time pricing models for enterprise data demand. Simplifying customer plans and support would unlock major brand trust gains.