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Communications Hardware Global Market Report 2024 Market Report 2024 | Share, Trends, Growth Demand, overview By 2033
Communications Hardware Global Market Report
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According to The Business Research Company's, The communications hardware market size has grown strongly in recent years. It will grow from $713.21 billion in 2023 to $763.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to technological advancements, increasing connectivity, data traffic growth, e-commerce and digital transformation.
The communications hardware market size is expected to see strong growth in the next few years. It will grow to $1055.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to security concerns, remote work and hybrid work models, government initiatives and regulations, environmental and sustainability concerns. Major trends in the forecast period include .
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Market Drivers and Trends:
The communications hardware market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human to computer interaction. Smart cities are integrated with communication equipment, thereby benefitting the companies operating in this market. APG Algemene Pensioen Groep N.V. announced investment of €250 million in "Smart City Infrastructure Fund", for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
Rapid increase in energy consumption has been a major threat to environmental protection and sustainable development, thus driving the development of green technologies. For instance, communications hardware accounts for about 2%-4% of the total global carbon emissions. Due to access to the high-speed internet provided by next-generation wireless networks and increased smartphone usage, data traffic has increased significantly. This has triggered a significant expansion of network infrastructures and increased the energy demands. Environment friendly batteries, renewable energy sources, and intelligent management of the power systems are being developed to reduce carbon emissions.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Apple Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., AT&T Inc., Cisco Systems Inc., Xiaomi Corporation, Hon Hai Precision Industry Co. Ltd., Lenovo Group Limited, Foxconn Industrial Internet Co. Ltd., Motorola Solutions Inc., Nokia Corporation, Telefonaktiebolaget LM Ericsson, ZTE Corporation, Juniper Networks Inc., Arris International Limited, CommScope Holding Company Inc., Extreme Networks Inc., Vocera Communications Inc., Viavi Solutions Inc., Impinj Inc., Harmonic Inc., EchoStar Corporation, Digi International Inc., Plantronics Inc., Infinera Corporation, Adtran Inc., Clearfield Inc., NETGEAR Inc., Cambium Networks Corporation, Aviat Networks Inc., Ribbon Communications Inc., Calix Inc., Casa Systems Inc., Sony Group Corporation.
Communications Hardware Market 2024 Key Insights:
• The communications hardware market size is expected to see strong growth in the next few years. It will grow to $1055.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rapid Growth In Smart City Investments Boosts Communications Hardware Market
• Response Rising Energy Consumption To Drive For Green Technologies
• Asia-Pacific was the largest region in communications hardware market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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