Communications market snapshot (Part one)
The communication category of construction includes telephone, television and radio distribution and maintenance buildings. The vast majority of these structures are privately owned.
Courtesy: Brett Sayles, CFE Media and Technology
- According to the U.S. Census Bureau, the communication category of construction includes telephone, television, and radio distribution and maintenance buildings and structures. The vast majority of these structures are privately owned.
- By annualizing the latest numbers for communication construction put-in-place spending, which captures the month of July, the category is slated to reach a five-year compound annual growth rate of 2.6% at the end of 2023.
- Markets revolving around the information and communications technology (ICT) industry, fiber networks, and Intelligent Transportation Systems (ITS) initiatives are expected to have consistent growth throughout this decade.
- Fiber networks are needed to support 5G deployment and broadband access in urban and rural areas. The Infrastructure Investment and Jobs Act (IIJA) made $65 billion available for broadband infrastructure. The largest program within this funding category is the Broadband Equity Access and Deployment (BEAD) program, which allocates $42 billion to states for planning, data collection, mapping, and construction projects. The National Telecommunications and Information Administration (NTIA) is responsible for managing the BEAD program, which will prioritize projects in unserved areas.
Morrissey Goodale is a CFE Media and Technology content partner.