TOKYO, June 15, 2022 (GLOBE NEWSWIRE) — The Global Telecom Equipment Market accounted for US$ 538.9 Bn in 2021 and is expected to reach US$ 967.9 Bn by 2030 with a considerable CAGR of 6.9% during the forecast timeframe of 2022 to 2030
The telecom equipment market includes global sales of telecom infrastructure equipment and telecommunications-related services. Telecommunications equipment is a device or system that transfers many types of signals. Demand for telecommunications equipment is driven by telecom operators, industrial firms, and departmental and power groups. These telecommunications networks all connect to the Internet to send and receive signals. All of these telecommunication networks communicate with one another by accessing the internet. Furthermore, telecommunications equipment relies on software to function, thus specialists that understand both the hardware and software of the equipment are essential.
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|Market||Telecom Equipment Market|
|Market Size 2021||US$ 538.9 Bn|
|Market Forecast 2030||US$ 967.9 Bn|
|CAGR||6.9% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Component, By Infrastructure, By Technology, By End-user, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd, Barcodes, Inc., Nokia Corporation, Samsung Electronics Co, Fujitsu Limited, Juniper Networks, Inc., Ciena Corporation, FiberHome Telecom Technologies Co. LTD., ZTE Corporation, Qualcomm Technologies, Inc, and Ribbon Communications Operating Company, Inc.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Telecom Equipment Market Growth Aspects
As the telecommunications industry expands, so does the demand for telecom equipment, propelling the market ahead. Furthermore, since mobile phones are end receivers of the communication process, the global market for telecom equipment is being driven by the increasing number of mobile phones. Furthermore, huge investment in enterprise IT across corporation verticals is projected to spur the industry forward. Furthermore, as businesses’ dependency on telecommunications develops, large-scale organizations are developing their own telecom networks, hence pushing the telecom equipment market. Furthermore, the growth of small and medium-sized organizations worldwide generates a potential market for Telecom Equipment. An increase in the use of tablets and smartphones, an increase in demand for network capacity to access connected services, and an increase in demand for managing network capabilities to give strong connectivity solutions for smart applications are driving the telecom equipment market.
Besides that, security network risks and data security concerns will stymie market expansion throughout the projection period. While increasing smartphone, connected car, and smart home adoption are expected to provide new growth prospects for the telecom equipment sector during the forecast period.
The increasing prevalence of IoT devices among the wider public has increased the demand for telecom equipment. As more individuals use smart devices for errands, office work, communication, and sending/receiving messages, IoT becomes increasingly common, basically replacing the previous method. To meet increased demand, telecom equipment manufacturers are already investing in the IoT sector. The increased use of IoT technology is predicted to increase global demand for telecom equipment.
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North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global telecom equipment market. Over the projection period, the Asia-Pacific telecom equipment market is expected to increase at the fastest rate. Factors such as an increase in the number of small and medium-sized organizations, combined with significant expenditures in the development of IT and telecom infrastructure, would generate profitable growth opportunities for the Asia-Pacific Telecom Equipment market. Furthermore, due to considerable ongoing internet infrastructure upgrades, Asia-Pacific is predicted to demonstrate high growth in the telecom equipment market. Advanced communication technologies like VoLTE, LTE, and 5G are in high demand in emerging economies such As Japan, India, and China. 5G technologies will provide opportunities and demand in Asia-Pacific by leveraging platforms such as automation, the Internet of Things (IoT), and artificial intelligence. As a result, demand for communication equipment is growing across Asia-Pacific. Aside from that, significant market participants have begun to expand their manufacturing and production facilities around the region. India has one of the world’s largest telecom markets. The total numbers of subscriptions, wireless subscriptions, and wired online subscriptions have all continuously climbed. As a result, demand for telecom equipment in the region’s industry is expanding.
For instance, Nokia Corporation began manufacturing next generation 5G telecom equipment in India in December 2020. As a result, the factors are projected to amplify market expansion throughout Asian countries. Industrial advancement and urbanization are expected to fuel market growth throughout Asia-Pacific.
The global telecom equipment market has been segmented by Acumen Research and Consulting based on component, infrastructure, technology, and end-user. Based on the component, the market is divided into hardware, and software. Based on infrastructure, the market split into wired, and wireless. Based on technology, the market is classified into 2G and 3G, 4G LTE, and 5G. Based on end-uses, the market is categorized into BFSI, retail, IT and telecommunication, media and entertainment, healthcare, military and defense, consumer electronics, and others.
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A few companies dominated the telecom equipment business, including Nokia, Huawei, Samsung, ZTE, Ericsson, Cisco, and NEC. For a long time, these proprietary vendors dominated the worldwide telecom equipment industry, controlling more than 80% of the market. However, things have altered in recent years.
Some key players covered in the telecom equipment industry report are Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd, ZTE Corporation, Ciena Corporation, Barcodes, Inc., Samsung Electronics Co, Fujitsu Limited, Juniper Networks, Inc., FiberHome Telecom Technologies Co. LTD., Qualcomm Technologies, Inc, and Ribbon Communications Operating Company, Inc.
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About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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