Rising Internet Penetration, and Expanding Smartphone User Base Offer an Impetus to Telecom Equipment Market
A must in a business for customer service, collaboration, remote operations; inspires education, is synonymous with healthcare provision, is improving sports and entertainment, improving governance, spurs global competitiveness. Overall, there is an ever-present and evolving need for efficient communication. The telecom industry is thus witnessing exponential growth. Growing accessibility and affordability of Internet, and surging requirement for high-bandwidth communication are driving the adoption of Internet and fibre optic connections, resulting in increased demand for the telecom test equipment. The expansion of the telecom equipment market is heavily reliant on purchases from cable companies, corporations, telephone equipment firms, data communication providers, and television and radio broadcasters. The expansion of cellular stations and the demand for next-generation ready network equipment for 5G telecom equipment networks are driving the growth rate of the telecom cabling equipment. Some of the significant reasons influencing the growth of the telecom equipment market are the increasing popularity of smartphones and the global penetration of the Internet. In recent years, the Internet has simplified life and is becoming more broadly available.
Increasing online retail goods and services trade, digitalisation of hospital data, e-government activities, and quickly developing platforms for media and entertainment content are significantly augmenting the use of the Internet. There were 5 billion Internet users worldwide as of April 2022, accounting for 63 percent of the global population. Social media was used by 4.65 billion of these persons. The growing penetration of the Internet worldwide will drive the telecom equipment market growth. The global smartphone market is predicted to increase significantly in the future years due to the growing trend of e-Commerce and m-Commerce, particularly among the working population. Growing Internet penetration, increased marketing efforts by smartphone suppliers, and rising social media subscriptions are among the primary reasons driving smartphone sales. Today, there are 5.32 billion unique mobile phone users worldwide. The overall number of individual mobile users worldwide increased by 91 million compared to the previous year. The demand for telecom equipment will grow with the continual increase in smartphones.
The Boom Around Wireless Continues to Rise up in Telecom Equipment Market
Wireless communication infrastructure advancements have increased demand for advanced telecom equipment such as mobile radio access network (ran), microwave transmission, IP telephony, optical transport, mobile backhaul, carrier Ethernet switches, routers, and wireless packet cores. As a result, the penetration of wireless network infrastructure is expected to boost telecom equipment market growth. Constant advances in smartphone and communication technologies fuel the ever-increasing need for wireless telecom equipment. Mobile device adoption has been combined with high-speed Internet connectivity to facilitate enterprise mobility or bring your device (BYOD) trend to workplaces. The increasing need for BYOD in modern workplaces is driving the segment growth. Wireless communication-based applications like the Internet of things, robotics, and connected gadgets will undoubtedly increase the demand for high-bandwidth communication infrastructure. As a result, increased demand for high-bandwidth communication networks will drive expansion in the wireless sector.
North America Surges Ahead, Market Expects Significant Growth in Asia Pacific
North America is expected to have the most significant worldwide share because of its quickly expanding wireless telecom network. The presence of essential market players across North America is a crucial element driving regional market expansion. Advanced telecom networking technologies are rapidly emerging, forcing the use of telecom equipment. The growing trend of remote working and enterprise mobility increases the necessity for a robust, dependable, and high-speed communication infrastructure. The growing demand for high-speed communications networks is driving demand for telecom equipment across North America. The ever-increasing need for IoT-based, innovative applications fuel the region's telecom equipment market growth. The increased use of wireless communication has increased the demand for improved wireless telecom equipment and network infrastructure. The number of smartphone users in the United States reached 298 million in 2021 and is expected to reach 311.53 million by 2025. With the continual increase in smartphones, the regional demand market will grow in the coming years.
Asia Pacific is expected to demonstrate significant growth in the telecom equipment market due to considerable ongoing Internet infrastructure upgrades. Countries such as India, Japan, and China highly demand new communication technologies such as 5G, LTE, and VoLTE. Through platforms such as robots, IoT, and VR, 5G technology will provide opportunities and demand throughout Asia Pacific. Aside from that, major market participants have begun to develop their production and manufacturing facilities throughout the region. Nokia Corporation will begin manufacturing next-generation 5G telecom equipment in India in December 2020. As a result, the variables are expected to accelerate market expansion across Asian nations. Rapid development and urbanisation are also expected to boost the market growth in Asia Pacific.
Global Telecom Equipment Market: Competitive Landscape
Market participants introduce new products and form alliances, collaborations, and partnership agreements. In December 2020, during the FTTH Europe Virtual Conference, Sterlite Technologies Limited unveiled an intelligently bonded celesta ribbon optical fiber cable. The corporation created this celesta optical fiber cable to help with network roll-out and answer the requirement for deep fiberisation. In May 2020, Telco Systems unveiled the 'T-Marc R3305' family of high-speed, multi-service corporate routers, and integrated access devices. The T-Marc R3305 is a low-cost telecom router with LAN, WAN, and VoIP connectivity options. With its good features, the solution is in high demand throughout the United States, and Europe.
A few of the players in the telecom equipment market include Ciena (US), Nokia (Finland), ZTE Corporation (China), Huawei Technologies Co. Ltd (China), Fujitsu Ltd ;(Japan), Telefonaktiebolaget LM Ericsson. (Sweden), Cisco Systems Inc. (US), Qualcomm Technologies Inc. (US), Ribbon Communications Operating Company Inc. (US), Samsung Group (South Kore), Juniper Networkds Inc. (US), CommScope Holding Co. Inc. (US), Extreme Networks Inc. (US), and NEC Corporation (Japan).
Global Telecom Equipment Market is Segmented as below:
By Offerings Products
Key Elements Included In The Study: Global Telecom Equipment Market
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