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It feels like summer time, at least in one part of the industry. The global telecommunications ecosystem is bright and sunny with continued robust growth forecast for the next three years; Research and Markets estimate this industry to touch $1,776.7 billion by 2017.

The report by the research firm is optimistic as the ongoing expansion of the industry -- with the mobile ecosystem and social portals -- is expected to boost the use of wireless services and mobile devices and up the ante on quality of broadband connectivity.

Today’s customers need high speed Internet and greater bandwidth; new business models are emerging to cope with this trend. In addition, the demand for high volumes of data application, increasing demand for 3G, edge, and 4G technologies, convergence of services, and competition for access in homes and businesses are all driving the telecom industry like never before.

According to the report, amidst such a lot of activity, the telecom landscape is bound to change. It will be dotted with new players, and new technologies will come into play. HSPA/LTE (News - Alert) could provide capacity, speed, and cost efficiency, enabling mobile broadband development.

The telecom ecosystem has been evolving for the past three years; foreign direct investment has given it the necessary thrust while government stimulus packages have woken up the industry to invest in growth and advancing technologies.

But as with everything else, growth will be held back a little by industry challenges.

Challenges however, are not new; in fact they are closely intertwined with growth. Regulatory compliance, deployment of new service bundles and a surge in network traffic will bring in their share of worries, not to mention high customer demand for innovative products and services and addiction to connectivity and speed.