Pune, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Telecom Equipment Market Size & Growth Analysis:
“According to SNS Insider Research, The Telecom Equipment Market size was estimated at USD 718.30 Billion in 2023 and is expected to reach USD 1033.03 Billion by 2032 at a CAGR of 4.12% during the forecast period of 2024-2032.”
Telecom Equipment Market Soars as 5G Rollout and Advanced Communication Technologies Drive Unprecedented Growth
The Telecom Equipment Market is seeing a massive growth due to the rise in the usage of advanced communication technology. Increasing use of digital facilities is one of the reasons for such accelerated growth. Furthermore, the increase in the number of TV and radio broadcasters and line-based communication equipment are the other steps to improve the revenue and market of telecommunications. The sector has received a tremendous contribution due to the growth of radio and TV broadcast as well as major social platforms to engage on. Moreover, another issue is the increase in the usage of 4G and LTE networks. It is noted that the market has a significant amount of progress due to the advanced network provider. Apart from that, the surge in demand for some telecom cabling equipment due to tremendous growth of the number of cell towers will be subsequently due to increased requirement for 5G technology.
Moreover, companies are expected to achieve the target and are eligible for government incentives up to Rs 400 crore. There are several companies like Nokia, Jabil, Sanmina, HFCL, VVDN, Coral, and Tejas Networks. There have been several efforts of the government to improve the technical infrastructure provided to maintain the PLI scheme. E-mail from the new companies shows that all orders were delayed until the announcement of 5G.
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Major Players Analysis Listed In this Report are:
The key players are Huawei Technologies Co. Ltd, Ciena, Nokia, ZTE Corporation, Cisco Systems Inc., Fujitsu Ltd, Telefonaktiebolaget LM Ericsson., Qualcomm Technologies Inc., Samsung Group, Juniper Networks Inc., CommScope Holding Co. Inc., Extreme Networks Inc, Ribbon Communications Operating Company Inc., NEC Corporation and Other Players
Telecom Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | US$ 718.30 Billion |
| Market Size by 2032 | US$ 1033.03 Billion |
| CAGR | CAGR of 4.12% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Driver | • The surge in demand for high-speed internet and enhanced connectivity, driven by the proliferation of smart devices and the Internet of Things (IoT), is a significant driver of the Telecom Equipment Market. |
Segmentation Analysis
"Broadband Access and Software Services Drive Telecom Equipment Market Surge, Capturing 34.2% Share in 2023"
In 2023, Broadband Access remained the leading segment in the Telecom Equipment Market, accounting for 34.2% of the market share. It is primarily because high-speed internet services keep expanding. With the growing consumption of streaming services, online games, remote work, and other internet services, broadband is a crucial part of the infrastructure. It is a technology that is developing and fulfilling the needs of new generations, keeping its position in the Telecom Equipment Market. In the nearest future, the segment may continue growing due to high demand for high-speed internet services among consumers and businesses.
Software Services are currently the fastest-growing segment in the Telecom Equipment Market. Several significant reasons explain such a development. First, network virtualization is becoming a prevalent trend, and the implementation of the virtualized networks of SDN and NFV reduces the need for hardware and results in a higher demand for software. Second, a growing number of telecom service providers rely on software services to optimize their operations and maximize their network performance.
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Telecom Equipment Market Key Segmentation
By offerings products
- Broadband Access
- Core Network
- Software Services
- Managed Services
By Infrastructure
- WIRELESS INFRASTRUCTURE
- Wired Infrastructure
By End User
- Consumer Electronics
- BFSI
- Retail
- Media
- Defense
- Others
"North America Leads Telecom Equipment Market with 38.02% Share in 2023, Driven by Industry Giants and Advanced Tech Deployment"
North America captured a significant market share of 38.02% in 2023, positioning itself as a dominant region in the Telecom Equipment Market. The primary driver of market expansion in North America is the presence of well-established industry players, including some of the world’s largest telecom equipment manufacturers. The region is witnessing accelerated deployment of telecom equipment due to the rapid development of advanced telecom networking technologies.
5G Revolution Drives Explosive Growth in the Telecom Equipment Market
The Telecom Equipment Market is poised for substantial growth in the coming years, driven by several key factors. The rapid deployment of 5G networks worldwide is a primary growth driver, as telecom operators and governments invest heavily in upgrading their infrastructure to support the next generation of mobile communications. The adoption of 5G is expected to revolutionize various industries, including healthcare, manufacturing, and transportation, by enabling faster data transfer, lower latency, and more reliable connections. This technological leap is creating a significant demand for telecom equipment, particularly in the areas of wireless infrastructure, broadband access, and software services.
“Ericsson Eyes India as Key Hub for Telecom Equipment Exports Amid Growing Global Demand”
In May 2024: Ericsson is considering exporting telecom equipment from India to leverage the country's competitive manufacturing costs and skilled workforce. This move aims to strengthen its supply chain and meet the growing global demand for telecom infrastructure. The decision reflects India's emerging role as a key player in the telecom equipment industry.
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Key Takeaways
Strategic Information and Competitive Edge in the Telecom Equipment Market:
- Client will benefit from into the leading segments and regions in the telecom equipment market, allowing them to position their testing strategic properly so they can take advantage of future opportune wins and maximize their market share.
- The report also includes outlined safety management processes, and clients can benefit from leading process of firms by implementing industry practices.
- Access to key technological trends will allow clients the ability to better information source their product development, aligning with detail approach to invest in most appropriate relative technological products.
- Clients will gain information on regional developments in telecom equipment testing market and be able to information source growth opportunists and properly test market entry and market expansion strategies.
- The report will also allow users views on recent product launches by leading service providers as well as innovations taking place, and this will give users a position in the market.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Telecom Equipment Market Segmentation, By offering products
8. Telecom Equipment Market Segmentation, By Infrastructure
9. Telecom Equipment Market Segmentation, By End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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