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Telecom Power Systems Market Size, Growth & Forecast 2024-2033
Telecom Power Systems Market Size
According to The Business Research Company's, The telecom power systems market size has grown rapidly in recent years. It will grow from $4.38 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to network densification, emergence of 4g networks, rural and remote connectivity, telecom infrastructure expansion, environmental concerns and energy efficiency.
The telecom power systems market size is expected to see rapid growth in the next few years. It will grow to $7.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to 5g network expansion, rise in data consumption, transition to green energy, demand for hybrid power solutions, focus on network resilience.. Major trends in the forecast period include microgrids and off-grid solutions, energy storage advancements, hybrid power solutions, focus on energy efficiency, remote monitoring and management.
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Market Drivers and Trends:
The growing adoption of telecom services and high data traffic is expected to propel the growth of the telecom power system market going forward. Telecom services refer to all forms of voice telephony and data transmission processing services, whereas high data traffic refers to high amounts of bandwidth that are utilized for extremely active and constant network traffic routes. Telecom power systems are used in telecom services to enable smooth functioning of services and organize more or less remote computer systems and to improve visibility into devices connecting to the network. For instance, in November 2022, according to Ericsson, a Sweden-based networking and telecommunications company, 5G's share of mobile data traffic is forecast to grow to 69% by 2028. Further, the global monthly average data usage per smartphone is anticipated to be 19 GB in 2023 and is forecast to reach 46 GB by the end of 2028. Additionally, total worldwide data traffic - barring traffic created by fixed remote access (FWA) was supposed to stretch around 90 EB (exabyte) each month toward the finish of 2022 and is projected to develop by an element of almost 4 to arrive at 325 EB each month in 2028. Therefore, the growing adoption of telecom services and high data traffic drive the telecom power systems market.
Product innovations are a key trend gaining popularity in the telecom power systems market. Major companies operating in the telecom power system market are introducing innovative products to sustain their position in the market. For instance, in May 2021, ABB Ltd., a Switzerland-based automation firm expanded its innovative GPS 4830 power system. These power systems provide the building blocks for high-efficiency telecom, networking, and data center power. These unique features are developed for extended temperature range, redundant fan cooling, 1U height, high power density, wide range AC input, and 48V back bias compared to other products.
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Major Key Players of the Market:
Delta Electronics Inc.; Cummins Inc.; Huawei Technologies Co. Ltd.; Eaton Corporation plc; ZTE Corporation; Schneider Electric; Microtek International Inc.; AEG Power Solutions BV; ABB Ltd.; Dynomic Power Group; Efore Group; JMA Wireless; Staticon Ltd.; Unipower LLC; VoltServer; Vertiv Co.; General Electric Company; Myers Power Products Inc.; ACME Electric Corporation; Emerson Electric Co.; Mitsubishi Electric Corporation; Toshiba Corporation; Eltek AS; Power-One Inc.; Bel Fuse Inc.; Advanced Energy Industries Inc.; Alpha Technologies Ltd.; Corning Incorporated; Zinwave Limited
Telecom Power Systems Market 2024 Key Insights:
• The telecom power systems market will grow to $7.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• Rising Data Traffic And Increased Telecom Service Adoption Fuel Growth In The Telecom Power Systems Market
• Product Innovations Transforming The Telecom Power Systems Market
• North America was the largest region in the telecom power systems market in 2023
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