Impact of Globalization on the Telecommunication Industry

Abstract

In the growth of the modern economy, telecommunication is considered an important strategic segment. The telecommunication industry has a major contribution to the global GDP and globalization has modified the telecommunication industry to Information and communication technologies (ICT).  Modern globalization has been influenced by ICT. Both offline, as well as online businesses, are impacted by telecommunication as it plays a big role in the success of the business. 5% of the global GDP was contributed by this industry in the last year that shows the importance of the telecommunication industry in the economy. This sector has gone through various restructures and promotes globalisation. In this article, the impact of globalization on the telecommunication sector has been discussed. Telecommunication industries produce telecommunication equipment that helps in the communication process. Both wires and wireless telecommunication services are provided by the industry that supports the business and individuals in making the communication. This industry has made the lives of the people easier as they can communicate to the whole world through these services. This sector consists of companies that exchange data in the form of verbal and non-verbal communication.