Press release
Telecom Equipment Market Growth by Regional Segments 2023: Upcoming Business Strategies and Industry Revenue Forecast by 2032
Telecom Equipment Market
Telecom Equipment Market Size was valued at USD 684.9 billion in 2021. The Telecom Equipment market industry is projected to grow from USD 718.46 Billion in 2022 to USD 1004.22 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2022 - 2030). The expansion of cellular towers, the requirement for 5G networks to use equipment suitable for the next generation, and the rising expenditures on network infrastructure are the key market drivers enhancing the market growth.
In an era characterized by ubiquitous connectivity and digital transformation, the telecom equipment market plays a pivotal role in enabling communication networks to meet the growing demands of consumers and businesses alike. From the infrastructure that powers mobile networks to the hardware that supports broadband connectivity, telecom equipment encompasses a wide range of technologies and solutions.
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Key Players:
• Huawei Technologies Co. Ltd (China)
• Ciena (US)
• Nokia (Finland)
• ZTE Corporation (China)
• Cisco Systems Inc. (US)
• Fujitsu Ltd (Japan)
• Telefonaktiebolaget LM Ericsson. (Sweden)
• Qualcomm Technologies Inc. (US)
• Samsung Group (South Kore)
• Juniper Networkds Inc. (US)
• CommScope Holding Co. Inc. (US)
• Extreme Networks Inc. (US)
• Ribbon Communications Operating Company Inc.(US)
• NEC Corporation (Japan)
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Telecom Equipment Market Regional Analysis:
Globally, Asia-Pacific accounted for the second-largest market share and is the fastest-growing regional market for telecom equipment. It accounted for a market share of 31.05% in 2018 and is expected to register a CAGR of 13.07% during the forecast period. The growth in the Asia-Pacific market is attributed to the increasing investments in network infrastructure within the region. Asia-Pacific has witnessed strong growth in telecommunication networks as the governments in China and Japan are focused on developing LTE and 5G technologies. To facilitate analysis, the Asia-Pacific market has been further divided into China, Japan, India, Vietnam, Indonesia, Philippines, Thailand, and the rest of Asia-Pacific.
Europe and the rest of the world are also witnessing considerable growth in the global telecom equipment market. The telecom operators in Europe are deploying 5G services with the help of companies such as Nokia and Ericsson, providing them the required telecom infrastructure. The market penetration of such key players is expected to drive the growth of the telecom equipment market in the region. In Europe, we have covered the UK, Germany, France, and the rest of Europe.
Telecom Equipment Market Segmentation:
Global Telecom Equipment Market has been segmented based on offerings, infrastructure, end-user, and region. The market, by offerings, has been segmented into products [broadband access, the core network (evolved packet core, IP multimedia subsystem, signal transfer point, and multiaccess edge computing)], software, services (professional services [consulting services, installation and implementation services, maintenance services, other support services], and managed services). By infrastructure, the market has been segmented into wireless infrastructure and wired infrastructure. By end-user the market has been segmented into consumer electronics, BFSI, retail, media, defense, and others.; regional markets being North America, Europe, Asia-Pacific, and the rest of the world.
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The telecom equipment market has witnessed rapid evolution in recent years, driven by advancements in networking technologies, the proliferation of mobile devices, and the demand for high-speed broadband connectivity. Key segments within the market include wireless infrastructure, optical networking equipment, switching and routing solutions, and network security appliances. As telecom operators strive to expand network capacity, improve performance, and enhance user experience, they rely on innovative equipment and solutions to stay competitive in a rapidly evolving landscape.
The telecom equipment market is poised for sustained growth and innovation, driven by the relentless demand for connectivity, digitalization, and emerging technologies. As telecom operators navigate the complexities of deploying next-generation networks and delivering advanced services, they will rely on innovative equipment and solutions from trusted vendors to stay ahead of the curve and meet the evolving needs of their customers in an increasingly connected world.
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