Communications Hardware Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Communication hardware is any device capable of transmitting analog or digital signals over a communication cable, telephone, or wireless technology. These devices are installed in a computer’s internal memory or as a peripheral.

Sizing and Forecast

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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Segmentation & Regional Insights

The communications hardware market covered in this report is segmented –

1) By Type: General Communication Equipment, Broadcast Communications Equipment, Telecom Infrastructure Equipment

2) By Application: Military Use, Civil Use

3) By End-User: Telecom Operators, Internet Service Provider, Cable Operator, Personal User, Business and Government

Subsegments Covered: Alarm Systems And Equipment, Fire Detection Equipment, Smoke Detectors, Intercoms Systems And Equipment, Traffic Signals, Other General Communication Equipment, Pagers, Transmitting Antennas, GPS Equipment, Cellular Telephone, Other Broadcast Communications Equipment, Switching Equipment, Bridges, Gateways And Routers, Other Telecom Infrastructure Equipment

Asia-Pacific was the largest region in communications hardware market in 2023. Western Europe was the second largest region in communications hardware market. The regions covered in the communications hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the communications hardware market include 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.

The communications hardware market report table of contents includes: