Spending on telecoms and pay-TV services in Europe, the Middle East and Africa is set to grow 1.7 percent to $492 million next year, according to new research.

IDC said EMEA will be the second fastest growing region behind Asia Pacific, which is forecast to grow 3.5 percent to $545 million.

The Americas is set to grow at 0.6 percent but is still set to be the largest market, with revenue predicted to be $635 million.

Global revenues are set to grow by 1.7 percent in 2018 to $1.67 billion.

Looking further ahead, IDC said spending on fixed data services would outpace that of the mobile market between 2017 and 2021.

The former will grow at a CAGR of four percent over the period with the latter growing by two percent.

The mobile market will remain the largest market overall, however, with growth in mobile data and M2M/IoT services offsetting declines in mobile voice and messaging.

“Mobility is and will dominate the overall telecom market as users in both developing and developed markets increasingly see mobile services based on 3G, 4G and, in the near future, 5G, as a key component of both personal and business communications,” said IDC’s Kresimir Alic.

The pay-TV services market will remain flat, while fixed voice revenues will fall at a CAGR of six percent and represent less than 10 percent of the overall market in 2021.

Courtney Munroe, Group VP, Worldwide Telecommunications Research at IDC, said: "The steady growth in the worldwide telecom market is driven by the need for IP services and higher bandwidth services, which are more than offsetting declining legacy telecom services."

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