Already a multibillion-dollar industry, the PCS market is poised for phenomenal growth. According to this Frost & Sullivan report, the European Union s decision to deregulate the telecommunications market is driving revenues and contributing to a drastic increase in the number of global system for mobile communications (GSM) and distributed control system (DCS) network operators. The report looks at standardization in the industry, the move toward more aggressive pricing strategies, and the latest strategic and tactical alliances. In addition, profiles of the top competitors are provided, including Lucent, Alcatel, Nokia, and Panasonic.