Leading telecommunications companies worldwide 2025, by market cap
In 2025, T-Mobile US was the world's largest telecommunications company, with a market capitalization of almost 308 billion U.S. dollars. Meanwhile, the Beijing-based firm China Mobile followed closely in second place, with a market cap of around 222 billion U.S. dollars. AT&T, Verizon, and Deutsche Telekom rounded up the top five largest telecommunications companies worldwide.
U.S. telecom giants dominate the global market
The U.S. telecommunication sector is home to some of the world’s most prominent companies. As of 2025, half of the top 10 global telecom companies, ranked by market cap, were based in the United States. Among these key players are Comcast, Verizon, and AT&T, boasting market caps of about 137 billion U.S. dollars, 182 billion U.S. dollars, and 192 billion U.S. dollars, respectively. When it comes to revenue, Verizon held the leading position among other U.S. network operators.
Global distribution of top telecommunication companies
From a global perspective, the distribution of the world’s largest telecommunication companies across different regions is noteworthy. A handful of Asian telecommunication companies have secured spots among the world’s largest. Specifically, Japan’s NTT and KDDI hold the tenth and twelfth positions, respectively, by market cap ranking. India’s Bharti Airtel isn’t far behind, ranking seventh globally. Meanwhile, the European telecommunication sector was only represented by Deutsche Telekom in the leading 10 telecom companies, which ranks fourth globally with a market cap exceeding 182.4 billion U.S. dollars.
