Global Industry is expected to grow at a steady rate during the forecast period. The rise in demand for IoT devices for better consumer experience and the emergence of advanced technologies is driving the growth of the global telecom equipment market. The rise in smartphone devices is compelling manufacturers and telecom service providers to invest in the hardware telecom equipment for instance cell towers, broadband spectrum, and mobile devices, cables, etc. Also, the surge in demand for internet-based applications and the development of next-generation technology equipment are also expected to fuel the global telecom equipment market. Digitization process across many industry verticals to ensure smooth operations and enhance connectivity to provide a platform for business opportunities is providing the opportunity for the growth of the telecom equipment market.
However, strict government regulations for the implementation of new technologies and higher maintenance costs are creating hindrances in the telecom equipment market growth.
Global equipment market is segregated into based on infrastructure, product type, offering, end-user, and region. Based on product, the market is divided into public switching equipment, transmission equipment and customer premises equipment. Public switching is expected to dominate the market due to their ability to sent information after the establishment of the connection. Based on product offerings market can be further divided into broadband access and core network. Broadband access is expected to dominate the global telecom equipment market due to the emerging trend of online gaming, video and voice conference calls and other high data consumption applications.
In terms of region, Asia pacific is dominating the global telecom equipment market. Presence of developing regions coupled with higher penetration of internet and increasing number of internet service consumers resulting in increase in internet service providers is fueling the telecom equipment market growth. High disposable income and rise in the living standards of consumers is influencing the market growth of the global telecom equipment. Also, North America and Europe is expected witness significant growth in telecom equipment during the forecast period owing to presence of key players in the region and huge investments in the telecommunication and defense segments.
Huawei Technologies Co Ltd, Cisco Systems Inc, Fujitsu Ltd, NEC Corporation, Nokia Corporation, ZTE Corporation, Qualcomm Technologies, Inc., Samsung Group, Ericsson Inc., Jupiter Networks, Inc., and others are some of the leading players operating in the global telecom equipment market. Companies operating in the market are using strategies such as joint ventures, product launches, mergers, and research collaborations to boost their share and increase their geographic reach.
Customers can also request 10% free customization on this report.
“Global Telecom Equipment is expected to witness significant growth during the forecast period owing to the integration of advanced technology, for instance, augmented reality and virtual reality with existing technology and expected roll-out for 5G technology will fuel the telecom equipment market worldwide,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.