Telecommunications and Capital Investments, 2012-2017: Impacts of the Financial Crisis on Worldwide Telecommunications
|発行||Insight Research Corporation||商品コード||116284|
|通信・設備投資の動向：金融危機が世界の通信に及ぼす影響 Telecommunications and Capital Investments, 2012-2017: Impacts of the Financial Crisis on Worldwide Telecommunications|
|出版日: 2012年11月30日||ページ情報: 英文||
The global economic meltdown that began in September, 2008 is still with us, coloring the current economic picture in shades of grey --- and the Euro-zone outlook tending toward even deeper gloom. But what is the consequence for the telecom sector? After all, telecommunications and the Internet are now vital platforms, underpinning trade, industry, finance, and personal communications worldwide.
Services are coming under pricing pressure and margins are eroding, which in turn will affect investment in infrastructure and new technology. Will the credit crunch derail investments in NGNs and converged services? Does the dot-com bust earlier in the decade provide clues for the way forward? Furthermore, how will OEMs fare during the economic maelstrom, where are the opportunities for operators, what are the risks, and which operators are best equipped to weather the crisis?
This report explores the impact of the financial crisis on the telecom sector by quantifying it in dollar terms; then breaking out operator capex spend into its four principal tangible asset categories: equipment; plant ; spectrum license; and other items. Estimates of spend are allocated to fixed line, mobile, and broadband providers. The focus of the analysis will be on operators in North America (breakouts for US and Canada); Europe (breakouts for UK, France, Germany; Asia-Pacific (breakouts for Japan, China, India); Latin America-Caribbean; and Africa.
These are turbulent times. The credit market difficulties that had simmered for years erupted into a full-blown financial crisis in September of 2008 which shook the global economic system to its foundation. Economic growth returned in late 2009: although recovery was expected to be slow, it was nonetheless expected to be sustainable and was expected to reduce high unemployment and improve government finances - especially in developed countries. On the other hand, the economies of Brazil, Russia, India, China and South Africa (collectively referred to as BRICS) as well as other select emerging market countries continued to report solid growth throughout the crisis. This meant that there existed a reasonable probability that growth would return globally. And indeed, the world economy was picking up steam and appeared to be on the verge of a rebound, or so it was hoped.
Unfortunately, it did not turn out that way: just as the European economies were moving into growth territory in 2010 the sovereign debt crisis of the Euro zone struck, with Portugal, Ireland and Greece in rapid succession needing European Union (EU) bail-outs if they were to avoid debt default. These three countries had by mid-2010 been de facto shut out of the private bond markets because of a loss of investor confidence in their ability to honor their respective financial obligations. The contagion then spread to Spain and Italy, and then to Cyprus, and now Slovenia is being pushed also into the maelstrom of contagion. Will France and Belgium be next? Already today they are in the cross hairs of rating agencies.
Unfortunately, there is no easy fix to the sovereign debt crisis. As a matter of fact, there exists a real possibility of the common currency imploding due to faulty assumptions at its creation; namely, that countries could continue to manage their Euro denominated economies on a national level. Recent events have proved...