by The global telecom equipment market is experiencing unprecedented growth driven by rising internet penetration and the ever-expanding smartphone user base, according to a recent report. The telecom industry, which plays a pivotal role in various sectors such as customer service, collaboration, healthcare, education, sports, entertainment, and governance, is witnessing exponential expansion.
Internet Accessibility and High-Bandwidth Demands Drive Adoption
The increasing accessibility and affordability of the internet, coupled with the surging demand for high-bandwidth communication, are propelling the adoption of internet and fiber optic connections. This surge in connectivity is resulting in an amplified need for telecom test equipment. Key purchasers in this market include cable companies, corporations, telephone equipment firms, data communication providers, and television and radio broadcasters.
Smartphones and Global Internet Penetration
One of the primary catalysts for the growth of the telecom equipment market is the soaring popularity of smartphones and the global penetration of the internet. With over 5 billion internet users worldwide and 4.65 billion active on social media as of April 2022, the global expansion of the internet is undeniable. This phenomenon is expected to be a driving force behind the growth of the telecom equipment market.
Smartphone Sales on the Rise
Furthermore, the global smartphone market is predicted to witness substantial growth in the coming years, fueled by the increasing trend of e-commerce and m-commerce, especially among the working population. Currently, there are 5.32 billion unique mobile phone users worldwide, with the number continually on the rise. This surge in smartphone usage is expected to drive the demand for telecom equipment.
Wireless Communication Infrastructure Drives Growth
The proliferation of wireless communication infrastructure advancements has led to a growing demand for advanced telecom equipment, including mobile radio access networks, microwave transmission, IP telephony, optical transport, mobile backhaul, carrier Ethernet switches, routers, and wireless packet cores. The rise of wireless network infrastructure is set to further boost the telecom equipment market.
North America Leads the Way
North America is poised to maintain the largest share of the global market due to its rapidly expanding wireless telecom network. Key market players in the region are driving the adoption of advanced telecom networking technologies, emphasizing the importance of robust, high-speed communication infrastructure, especially with the increasing trend of remote working and enterprise mobility.
Asia Pacifics Accelerating Growth
Asia Pacific is anticipated to exhibit significant growth in the telecom equipment market as countries like India, Japan, and China demand new communication technologies, including 5G, LTE, and VoLTE. The region is poised for rapid growth in these areas, and major market players are expanding their production and manufacturing facilities across Asian nations.
Competitive Landscape
Key players in the global telecom equipment market include Ciena, Nokia, ZTE Corporation, Huawei Technologies, Fujitsu Ltd, Telefonaktiebolaget LM Ericsson, Cisco Systems, Qualcomm Technologies, Ribbon Communications, Samsung Group, Juniper Networks, CommScope Holding, Extreme Networks, and NEC Corporation.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/telecom-equipment-market
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This press release first seen on Brilad
COMTEX_442108607/2840/2023-10-19T04:37:36
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.