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Telecom Companies — US Industry Report

Official NAICS classification: Wired and wireless telecommunications carriers (51731)

The wired and wireless telecommunications carriers industry in the United States generated an estimated ~$640.2B in annual revenue across 52.9K establishments employing 835.6K workers (Census Bureau). This 33-page report analyzes industry performance, competitive dynamics, and delivers 5-year growth forecasts.

Published by VantaInsights Research TeamLast updated: October 2026NAICS 51731
~$640.2B
Market Size A VantaInsights projection for 2026, not a published federal figure: the 2024 Census Economic Census revenue carried forward at the industry's revenue growth rate. The published 2024 figure is in the report.
5-Year Trend Industry growth direction over 2017-2025. Exact CAGR and year-by-year data available in report.
52.9K
Establishments Total business locations operating in this NAICS-classified industry.
835.6K
Employment Total paid employees across all industry establishments.
$XX.XB
Annual Payroll Total annual wages and salaries. Full payroll data available in report.
Decline
Life Cycle Growing slower than overall economy (not necessarily shrinking)

Industry Snapshot

  • ▸Compensation rising while carrier workforce contracts significantly
  • ▸Revenue growth persists amid workforce contraction, signaling productivity gains
  • ▸Carrier pricing power outpacing wage growth trajectory
  • ▸Telecom employment concentrated heavily in a single geographic region
Full data and exact figures in the report

Table of Contents

1.Executive Summaryp. 4

Key takeaways, industry definition, and current state overview. Covers the industry's scope, principal activities, NAICS classification context, and a concise snapshot of where the industry stands today. Reading this alone gives decision-makers the high-level picture they need before diving into data-backed chapters.

2.Industry Performancep. 6

Historical performance analysis covering establishments, employment, and payroll (2017-2025). Examines what has driven industry performance in recent years, how the industry has responded to macroeconomic cycles, and which operating conditions have shaped revenue and labor dynamics. Includes source-cited tables and year-by-year data points.

3.Industry Forecastp. 10

5-year projections (2026-2030) with base case, bull case, and bear case scenarios. Each scenario combines historical trends, macroeconomic indicators from FRED, and industry-specific signals. Addresses questions on expected trajectory, forecast risk, downside drivers, and the assumptions behind each scenario.

4.Industry Outlookp. 13

Growth drivers, risk factors, and external environment analysis. Unpacks the forces that will shape the industry over the forecast horizon — demographic shifts, regulatory changes, technology adoption, and cyclical exposure. Frames both the upside opportunities and the structural risks operators and investors should weigh.

5.Competitive Landscapep. 16

Market structure, concentration, barriers to entry, and competitive dynamics. Describes how the industry is structured between incumbents and entrants, typical competitive strategies, and what separates successful operators. Standard-tier reports add the official CR4, CR8, CR20, CR50 and HHI from the Census Economic Census, plus the largest public operators named from SEC EDGAR 10-K filings.

6.Operating Conditionsp. 20

Cost structure, labor requirements, technology factors, and the regulatory environment. Examines where operators spend, how sensitive margins are to input costs, what workforce and technology investments are typical, and which compliance and regulatory constraints shape day-to-day operations and long-term planning.

7.SWOT Analysisp. 22

Strengths, weaknesses, opportunities, and threats — each supported by concrete evidence from the underlying data. Moves beyond generic bullet points by tying each SWOT element to specific metrics, structural trends, or external forces identified elsewhere in the report. Useful for strategic planning and risk assessment.

8.Geographic Breakdownp. 25

Regional market concentration, wage dynamics, and emerging geographic opportunities. Breaks establishments, employment, and payroll down by state and region, identifies where the industry is densest, where it is growing fastest, and how local labor markets and wage levels differ. Standard-tier and higher includes state-level tables.

9.Major Industry Playersp. 29

The largest public operators in the industry, named from their SEC EDGAR 10-K filings, with enterprise revenue and segment context. Sits alongside the official Census Economic Census concentration figures (CR4, CR8, CR20, CR50, HHI) so the named players can be read against the measured structure of the whole industry, public and private.

33 pages·12 charts & figures·PDF format

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Industry Analysis

The Wired and wireless telecommunications carriers industry (NAICS 51731) encompasses 52.9K establishments in the United States employing 835.6K workers, generating an estimated ~$640.2B in annual revenue (Census Bureau). Classified within Information, the industry is positioned in a decline phase of its life cycle.

This report examines historical performance trends (2017-2025), competitive structure, geographic distribution, and provides a 5-year outlook (2026-2030) with growth drivers, risk factors, and industry-specific SWOT analysis.

Additional trends and insights available with purchase

Products & Services

Key service categories in the Wired and wireless telecommunications carriers industry.

Full service list on the At-a-Glance page in report

Who Uses These Reports

Investors & PE Firms

Consultants & Advisors

Founders & Operators

Corporate Strategy Teams

Top Questions Answered

What is the market size of the Wired and wireless telecommunications carriers industry?

The Wired and wireless telecommunications carriers industry generated ~$619.7B in revenue (US Census Economic Census, 2022, on the NAICS 2017 definition (Census comparative statistics)). Full analysis available in report.

How fast is the Wired and wireless telecommunications carriers industry growing?

Industry revenue has followed a moderate expansion path across the most recent Economic Census reference period, so the sector is growing rather than contracting in dollar terms. Full analysis available in report.

What is the outlook for the Wired and wireless telecommunications carriers industry?

The industry is projected to continue its growth trajectory, with revenue expected to keep expanding at a measured pace if the historical trend holds. Full analysis available in report.

How does the Census define the Wired and wireless telecommunications carriers industry (NAICS 51731)?

Under NAICS 2017, this industry comprises establishments primarily engaged in operating, maintaining, and/or providing access to switching and transmission facilities and infrastructure that they own... Full analysis available in report.

How many businesses operate in the Wired and wireless telecommunications carriers industry?

The industry counted 52.9K establishments and 835.6K employees (Census CBP, 2023). Full analysis available in report.

How competitive is the Wired and wireless telecommunications carriers industry?

The industry's size label is Moderate, based on average establishment size, and the sector spans 52.9K establishments (Census CBP, 2023). Full analysis available in report.

How have wages in the Wired and wireless telecommunications carriers industry changed relative to inflation?

Not over 2019-2023. Average annual pay per employee rose slightly more slowly than consumer prices (Census CBP; BLS CPI), so real pay edged down while employment fell. Full analysis available in report.

Who are the major players in the Wired and wireless telecommunications carriers industry?

The industry's 52.9K establishments (Census CBP, 2023) and Moderate size label show that it is made up of a very large number of operating locations rather than a handful of sites. Full analysis available in report.

Get complete answers with detailed growth rates, forecasts, and competitive analysis.

Methodology

Every figure in this report is official US government data, computed in code and checked against the source by an automated validation pass. The text is drafted with AI, then read, reviewed and corrected where needed by a person. How we use AI

The Census Bureau's County Business Patterns and Economic Census provide establishment counts, employment, and payroll broken out by NAICS industry and geography. The Bureau of Labor Statistics QCEW program supplies wage data by industry. The Federal Reserve Economic Data (FRED) service contributes macroeconomic indicators used for industry forecasting — GDP, interest rates, housing starts, and sector-specific indices.

Data freshness varies by source: Census CBP has a ~2 year lag, BLS lags 6-9 months, and FRED provides near real-time macroeconomic data. Each report includes a data currency section showing exact year ranges.

Read our full methodology →

Data Sources

Every chart, table, and claim in this report traces back to a published federal statistical database. Each data point in the PDF shows its source so you can verify it against the original dataset.

Historical data range
2017-2025
Market size derivation
Census Bureau

Report Details

NAICS Code51731 - Wired and wireless telecommunications carriers
NAICS Vintage2017
Industry SectorInformation
Report TierStandard
Geographic CoverageUnited States
Historical Data2017-2025
Forecast Period2026-2030
Page Count33 pages
FormatPDF
Data SourcesCensus, BLS, FRED, SEC
Last UpdatedOctober 2026
AnalysisAI-assisted
Telecom CompanieswiredandwirelesstelecommunicationscarriersNAICS 51731market sizeindustry forecast

Industry Classification (NAICS)

Where this industry sits in the North American Industry Classification System.

51731Wired & Wireless Telecommunications Carriers

Classified on NAICS 2017. In NAICS 2022 this industry is split across 2 industries, with no single successor.

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