The global roaming tariff market size is expected to reach USD 100.93 billion by 2028, growing at a CAGR of 5.1% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. Adopting roaming analytics and expanding VoLTE networks worldwide is anticipated to favor market growth. The growing inclination of telecom service providers to rollout 5G services is presumed to pave the way for market growth over the forecast period. In recent times, Blockchain has started making in-roads into the roaming industry. Blockchain gives clear visibility into users’ activities on a network. This helps carriers or communication service providers in payment reconciliation and keep track of any fraudulent activity. Recently, companies, such as Telefonica SA, Deutsche Telekom AG, and Vodafone Group Plc, have also shown interest in integrating Blockchain in their business operation.
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In 2020, COVID-19 disrupted the market, primarily due to the international travel restrictions and lockdown imposed across several countries that resulted in a shortfall in international roaming revenue. This trend is anticipated to continue in 2021, with the virus making a resurgence with a new variant and prospects of a lockdown back on cards in several nations. To mitigate the losses incurred, operators began to focus on diversifying revenue streams by capitalizing on video conferencing and OTT services while exploring new opportunities to generate long-term prospects. Carriers are expected to offset the declining revenue by emphasizing new services.
The market is expected to witness new growth opportunities in the coming years as the events postponed in previous years are conducted along with other scheduled events. In addition, the international tourism industry is also expected to experience a spike triggered by a large number of international travelers that couldn’t travel due to the pandemic. International tourism is one of the leading drivers of socioeconomic progress. According to the International Trade Center (ITC), international tourism accounts for almost 30% of the global trade services. World Tourism Organization (UNWTO), a United Nations agency, is known for promoting sustainable and universally accessible tourism and driving economic growth. Thus, the market is expected to experience significant growth, aided by the tourism industry, once the traveling restrictions are lifted and the majority of the global population is vaccinated.
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