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It is required for resourceful expansion of the economy by means of sharing and transmitting information. Businesses are also dependent on communication for growth. Talking about its history, telecom started its journey with discovery of telephone in 1876 and television in early 1900s. It has now set up a vast network enabling people to contact each other. The telecom industry got a boost in 20th century with discovery of wireless communication and the industry revenue assumed to be of $4.7 trillion considering 3% of gross world product. It is also in popularity among social networking sites.
We can say that telecom sector is changing at warp speed and is driven by innovation that is resulting into new services and equipments and expansion of companies with experience in wide range of information industries.