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Telecom Services in Vertical Markets 2007 - 2012
Telecom Services in Vertical Markets 2007-2012, the tenth market analysis study in this series from Insight Research, quantifies the telecom spending habits of major US industry segments for wired and wireless services. This report examines wired and wireless spending trends in the general economy and then delves into wired voice and data service spending patterns and wireless spending for specific industry segments, including: healthcare; construction; retail trade; wholesale trade; educational services; financial, insurance, and real estate services; professional business services; hotel and lodging; transportation; communications; utilities; entertainment and media; durable manufacturing; and non-durable manufacturing.
Vertical Industry Telecommunications Spending
The objective of this market research report is to examine and quantify the opportunities in various vertical industries for the telecommunications service provider community. Insight examines 14 vertical markets in this report, segmented according to Standard Industrial Classification (SIC) developed by the US Department of Commerce and the North American Industry Classification System (NAICS) developed by the Bureau of Labor Statistics (BLS). These 14 vertical markets represent the majority of establishments in the US. This study begins with total telecom revenues, divides them between the business and the residential markets, and then examines the driving forces in each of 14 selected vertical industry markets. The forecasts and segmentation in this report are based on data from the US Bureau of the Census, the BLS, the Bureau of Economic Analysis, the Federal Communications Commission (FCC (News - Alert)), Standard & Poor’s (S&P), and a private study that was conducted on approximately 480,000 business sites completed in the third quarter of 2007.
Telecommunications products and services are, by their very nature, commodity products, since they exhibit little or no customization. Telecom providers recognize the commodity nature of their product when they market horizontally offering everything to everyone, everywhere. Horizontal marketing provides generic “one-size-fits-all” offerings. In contrast, vertical marketing focuses on developing solutions to user problems within specific industries. In this market analysis report our thesis is as follows: with competition eating into already anemic profit margins, solution selling by vertical industry becomes an attractive way for telecommunications vendors to differentiate and a viable way to maintain profitability and sustained growth.
With a slowing economy the business opportunities for telecommunications providers in the enterprise market seem harder to find than ever before. According to the BLS, the employment picture is not sanguine. In April 2002, unemployment hit an eight-year high of 5.9 percent. The picture did not improve as the US rolled into 2003; by April, unemployment hit six percent, in May it rose to 6.1 percent, and by June the number peaked at 6.4 percent. Although the unemployment rate improved to 5.4 percent by August of 2004, some economists insisted that the rate only improved because a significant number people dropped out of the “actively looking for jobs” market, which is parcel to the overall unemployment calculation. In December of 2004, the unemployment rate dropped to 4.9 percent. Beginning in March of 2005, the monthly rate began fluctuating between 4.6 percent and 5.1 percent. By September of 2006, the unemployment rate was 4.6 percent. For the first eight months of 2007, the unemployment rate has ranged between 4.4 and 4.6 percent. In November of 2007, however, the unemployment rate hit 4.7 percent.
Market Segmentation
Total Wireline Market
Business vs. Residential Wireline Market
Business Expenditures in Vertical Markets
Wireline Data vs. Voice Markets
Wireline Data Expenditures in Vertical Markets
Wireless Expenditures
Markets: Healthcare, Construction, Retail Trade,Wholesale Trade, Educ,Social Svcs & Member Org, Financial, Insurance, Real Estate Svcs,Professional Business Svcs, Hotel & Lodging, Transportation, Communications, Utilities, Entertainment & Media, Durable Manufacturing, Non-Durable Manufacturing, All Others
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