Overview and Scope
Telecom equipment refers to the hardware and telecom related devices used in telecommunications networks to transmit, receive, and process data and voice signals. It facilitates connectivity by enabling the transmission of voice, data, and multimedia over various communication channels over long distances, enabling individuals, businesses, and organizations to connect with each other locally, nationally, and globally.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The telecom equipment market report table of contents includes:
1. Executive Summary
2. Telecom Equipment Market Characteristics
3. Telecom Equipment Market Trends And Strategies
4. Telecom Equipment Market – Macro Economic Scenario
5. Global Telecom Equipment Market Size and Growth
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32. Global Telecom Equipment Market Competitive Benchmarking
33. Global Telecom Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Telecom Equipment Market
35. Telecom Equipment Market Future Outlook and Potential Analysis
36. Appendix
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