In this article, we will take a look at the 15 biggest telecom companies in the US. If you want to skip our detailed analysis, you can go directly to 5 Biggest Telecom Companies in the US.
Key Trends in the Telecom Industry
According to a report by Mordor Intelligence, the US telecom market was valued at $427.43 billion in 2023. The US telecom market is expected to grow to $530.61 billion by 2029 from $443.12 billion in 2024 at a compound annual growth rate (CAGR) of 3.67%. Some of the players including AT&T, Verizon, and Comcast, have been directing significant capital to research and development. These companies are particularly interested in pushing the use of 5G technology, despite it being in its infancy stage. The US is not only home to these companies, but it is also a hub for digitization fueling the demand for services like over-the-top (OTT) media, messaging, and e-commerce. Another trend in the telecom industry is the role of mobile networks in achieving green and digital transformation in the country. To ensure customers are transitioning to the use of 4G and 5G, telecom giants have or are in the process of shutting down their 2G and 3G capabilities.
The rise of cloud computing is another catalyst in the telecom industry. As more employees shift to work remotely, the demand for cloud services is on the rise. Cloud service providers and telecom providers are expected to come together to offer unmatched solutions to clients. The Verizon 5G Edge is a platform that helps developers deploy edge applications to boost performance, process data, and analyze findings faster than ever. The fast response times and data processing primarily stem from the integration of Verizon's 5G services. You can also read our piece on the largest telecom companies in the world by revenue.
Key Players in the Telecom Industry
T-Mobile US, Inc. (NASDAQ:TMUS), Verizon Communications Inc. (NYSE:VZ), and Comcast Corporation (NASDAQ:CMCSA) are among the biggest telecom companies in the United States. Let's discuss some recent updates from these companies. You can also take a look at the best telecom dividend stocks to buy for 2024.
T-Mobile US, Inc. (NASDAQ:TMUS) is one of the largest telecom companies in the United States. On March 6, T-Mobile US, Inc. (NASDAQ:TMUS) announced that T-Mobile customers are set to take advantage of a 5G boost. The company added a new capacity by activating the 2.5 GHz spectrum. Such will enable the company to expand its 5G coverage to new communities across the United States. The forte will enable more than 10 million T-Mobile customers to get an immediate performance boost. In the coming days, the company will provide enhanced 5G coverage to over 60 million customers spread across 300,000 square miles. The remaining capacity will be deployed once new towers are made.
Comcast Corporation (NASDAQ:CMCSA) is a telecommunication company based in Philadelphia, United States. It is one of the largest broadcasting and cable television companies in the world. On March 6, Comcast Corporation (NASDAQ:CMCSA) announced that the company is increasing speeds for millions of Xfinity internet customers. The speed for Connect customers is now 150 Mbps, 300 Mbps for Connect More customers, 500 Mbps for Fast customers, and 200 Mbps for Xfinity Prepaid customers. In addition to that, participants of the Affordable Connectivity Program (ACP) will also enjoy more budget friendly connectivity options.
Verizon Communications Inc. (NYSE:VZ) is a multinational telecommunications conglomerate. On March 3, Verizon Communications Inc. (NYSE:VZ) launched two new business devices. These include the Verizon Business Internet Gateway and the tri-band 5G Business Receiver. The Verizon Business Internet Gateway is the first device to be Wi-Fi 7 compatible. The device also supports 5G C-band connectivity. The tri-band receiver on the other hand supports 4G LTE, 5G mmWave, and C-band. The two devices together can enhance the business customer experience with greater bandwidth, improved connectivity, enhanced reliability, and increased responsiveness. The new Gateway also offers support for private networks.
Now that we have discussed the telecom industry, without further ado, let's discuss the 15 biggest telecom companies in the United States. You can also read our piece on the best telecom companies to invest in.
15 Biggest Telecom Companies in the US
15 Biggest Telecom Companies in the US
Our Methodology
To make our list of the 15 biggest telecom companies in the US, we went over several sources, including industry reports, our rankings, and multiple similar rankings. We also scanned the Finviz and Yahoo Finance stock screeners. For public companies, we checked each company's market capitalization, as of March 12, 2024, on Yahoo Finance. To quantify the "value" or "size" of private companies, we selected either the estimated valuation, the annual revenue available for the most recent fiscal year, or the number of employees, subject to the availability of data. The annual revenue was sourced from official statements by the company and the company's website. Our list of the 15 biggest telecom companies in the US is in ascending order of market caps, as of March 12, 2024, for public companies, and annual revenue for the latest year available for private companies.
Market Capitalization as of March 12, 2024: $2.60 Billion
Cable One, Inc. (NYSE:CABO) is one of the biggest telecom companies in the United States. The company engages in the provision of data, video, and voice services in the United States. It offers its products and services to residential and business customers. Cable One, Inc. (NYSE:CABO) was founded in 1980 and is based in Phoenix, Arizona.
Market Capitalization as of March 12, 2024: $2.68 Billion
Globalstar, Inc. (NYSE:GSAT) is the 14th biggest telecom company in the United States. It provides mobile satellite services across the globe. It provides one-way and two-way communications and data transmissions, mobile voice and data satellite communications, and other two-way voice and data products. Globalstar, Inc. (NYSE:GSAT) was founded in 1993 and has a market capitalization of $2.68 billion.
Market Capitalization as of March 12, 2024: $3.01 Billion
United States Cellular Corporation (NYSE:USM) is a leading provider of wireless telecommunications services in the United States. The company provides wireless devices such as handsets, tablets, mobile hotspots, home phones, and routers. Key features include wireless voice, messaging, and data services. United States Cellular Corporation (NYSE:USM) has a market capitalization of $3.01 billion.
12. Cogent Communications Holdings, Inc. (NASDAQ:CCOI)
Market Capitalization as of March 12, 2024: $3.27 Billion
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) engages in the provision of high-speed internet access, private networks, and data center colocation space services across the globe. It also gives on-net internet access and private network services to a range of industries including law firms, financial services firms, healthcare firms, and educational institutes. Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was founded in 1999 and is based in Washington.
Market Capitalization as of March 12, 2024: $3.54 Billion
Iridium Communications Inc. (NASDAQ:IRDM) is one of the biggest telecom companies in the United States. It is a provider of mobile voice and data communications services. The company provides postpaid mobile voice and data satellite communications, prepaid mobile voice communications, and broadband data services. Iridium Communications Inc. (NASDAQ:IRDM) is headquartered in Virginia and has a market capitalization of $3.54 billion.
10. Windstream Holdings, Inc.
Annual Revenue (2023): $4.00 Billion
Windstream Holdings, Inc. ranks 10th on our list of the biggest telecom companies in the United States. The company engages in the provision of voice and data network communications. Some key services include premium broadband, entertainment, security services, and 5G fixed wireless services. Windstream Holdings, Inc. reported annual revenue worth $4 billion for the fiscal year 2023.
Market Capitalization as of March 12, 2024: $4.13 Billion
EchoStar Corporation (NASDAQ:SATS) is a provider of satellite communications and internet services. In January, EchoStar Corporation (NASDAQ:SATS) acquired Dish Network, a leading telecom services provider. It provides multichannel television, satellite television, and mobile phone services. EchoStar Corporation (NASDAQ:SATS) has a market capitalization of $4.13 billion.
8. Frontier Communications Parent, Inc. (NASDAQ:FYBR)
Market Capitalization as of March 12, 2024: $6.14 Billion
Frontier Communications Parent, Inc. (NASDAQ:FYBR) is a leading communication and technology services provider in the United States. It offers broadband, video, and voice services. Other services include data and internet, broadband networking, data-based voice over internet protocol, and voice messaging solutions. Frontier Communications Parent, Inc. (NASDAQ:FYBR) is headquartered in Texas.
Market Capitalization as of March 12, 2024: $8.41 Billion
Liberty Broadband Corporation (NASDAQ:LBRDA) is the seventh biggest telecom company in the United States. The company provides a range of cable, data, wireless, video, voice, and managed services under its GCI brand. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $8.41 billion and was founded in 2o14.
6. Cox Communications, Inc.
Annual Revenue (2020): $20 Billion
Cox Communications, Inc. is one of the biggest telecom companies in the United States. The company is a digital cable television and telecommunications service provider. Key features include fast internet, cable TV, and smart home solutions. Cox Communications, Inc. was founded in 1962 and reported revenue worth $20 billion in 2020.
