The telecom equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Telecom Equipment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The telecom equipment market size has grown strongly in recent years. It will grow from $591.2 billion in 2023 to $636.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to widespread use of wireless communication, the increased number of smartphone users, the growing expansion of the smart infrastructure, propelling global consumer electronics demand, increasing demand for high-speed communication systems.
The telecom equipment market size is expected to see strong growth in the next few years. It will grow to $813.8 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to need for cutting-edge wireless telecom equipment and network infrastructure, rising interest in 5G technology, rising demand for IoT-based smart applications, growing mobile telecommunications business, rising demand for various home improvement products and electronic devices. Major trends in the forecast period include increasing the number of smart city projects in developing nations, development of advanced telecom communication networks, technological innovation, advances in the internet infrastructure, deployment of 5G networks.
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Scope Of Telecom Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Telecom Equipment Market Overview
Market Drivers –
The growing mobile telecommunications business is expected to propel the growth of the telecom equipment market going forward. Mobile telecommunication refers to transmitting voice, data, and multimedia over a wireless network, allowing users to communicate and access information. The increased connectivity needs, smartphone adoption, and the expansion of digital services drive the growing demand for mobile telecommunications. Mobile telecommunications businesses leverage telecom equipment to expand their network infrastructure, improve service quality, and meet increasing customer demand for reliable, high-speed mobile communication services. For instance, in October 2023, according to the State of Mobile Internet Connectivity Report by the GSM Association, a UK-based association, mobile internet usage reached 4.6 billion individuals globally in 2022, comprising 57% of the world’s population. This signifies a rise from 55% in 2021, with the percentage of connected individuals reaching 57.1% in 2022. Therefore, the growing mobile telecommunications business is driving the growth of the telecom equipment market.
Market Trends –
Major companies operating in the telecom equipment market focus on technological innovation, such as software automation, to enhance network capabilities and performance. It streamlines repetitive tasks, improving efficiency and reducing manual effort in diverse industries. For instance, in October 2023, Telefonaktiebolaget LM Ericsson, a Sweden-based networking and telecommunications company, launched a cutting-edge software toolkit to enhance 5G standalone network capabilities, facilitating premium services with distinct connectivity. This toolkit is designed to cater to experience-based connectivity with high demands on throughput, reliability, and latency. It empowers communications service providers (CSPs) to deliver use cases that require high-performance levels, such as lag-free mobile cloud gaming, video conferencing, live broadcasting, remote-controlled machines/vehicles, public safety services, and extended reality applications. The software toolkit offers enhanced features for massive multiple-input multiple-output (MIMO), advanced radio access network slicing, time-critical communication, and 5G core.
The telecom equipment market covered in this report is segmented –
1) By Type: Network Communication Equipment, Mobile Communication Device, Optical Communication Equipment
2) By Component: Hardware, Software
3) By Technology: 2G And 3G, 4G LTE, 5G
4) By Infrastructure: Wired, Wireless
5) By End-User: Banking, Financial Services And Insurance (BFSI), Retail, Information Technology And Telecommunication, Media And Entertainment, Healthcare, Military And Defense, Consumer Electronics, Other End Users
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Regional Insights –
North America was the largest region in the telecom equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the telecom equipment market are Samsung Electronics Co. Ltd., Verizon Communications Inc., Deutsche Telekom AG, AT&T Corporation, NTT Communications Corporation, Huawei Technologies Co. Ltd., Cisco Systems Inc., Qualcomm Technologies Inc., Fujitsu Limited, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, TE Connectivity Ltd., CommScope Holding Co Inc., Keysight Technologies Inc., Juniper Networks Inc., Ciena International Inc., Viavi Solutions Inc., Extreme Networks Inc., Mavenir Systems Inc., Adtran Inc., Ribbon Communications Inc., SIA Mikrotīkls, Ceragon Networks Ltd., Alcatel Lucent Teletas Telekomunikasyon AS, Baicells Technologies Co. Ltd., Cambium Networks Corporation, RADWIN, TELNET Redes Inteligentes S.A.
Table of Contents
- Executive Summary
- Telecom Equipment Market Report Structure
- Telecom Equipment Market Trends And Strategies
- Telecom Equipment Market – Macro Economic Scenario
- Telecom Equipment Market Size And Growth
…..
- Telecom Equipment Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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