Telecom Equipment Market to grow at a CAGR of 6.13% from 2022 to 2027 | Increasing demand for high-speed internet connectivity is one of the key drivers - Technavio
NEW YORK, July 4, 2023 /PRNewswire/ -- The telecom equipment market is estimated to grow by USD 195.93 billion from 2022 to 2027. Moreover, the growth momentum will progress at a CAGR of 6.13% during the forecast period. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report
Factors such as the increasing demand for high-speed internet connectivity, the growing adoption of cloud-based services, and the increasing demand for network security will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The telecom equipment market is fragmented, and fragmentation will accelerate during the forecast period.
Telecom Equipment Market 2023-2027: Segmentation
The telecom equipment market is segmented as follows:
End-user
BFSI
IT And Telecommunication
Retail
Media And Entertainment
Others
Component
Hardware
Software
Geography
North America
Europe
APAC
South America
Middle East And Africa
The market share growth by the BFSI segment will be significant for the growth of the market during the forecast period. The BFSI sector is a major end-user of telecommunications equipment. It includes organizations such as banks, insurance companies, and other financial service providers. This segment widely uses communication devices for various applications, such as data management and transaction processing.
Telecom Equipment Market 2023-2027: Vendor Analysis and Scope
Some of the major vendors of the telecom equipment market include Actelis Networks Inc., Adtran Holdings Inc., ALE International, Aspocomp Group Plc, AT and T Inc., ATOP Corp., Comba Telecom Systems Holdings Ltd., CommScope Holding Co. Inc., Guangdong Lingyi Intelligent Manufacturing Co. Ltd., Hitech Circuits, Huawei Technologies Co. Ltd., Infinera Corp., Juniper Networks Inc., Motorola Solutions Inc., Qualcomm Inc., Semtech Corp., Siemens AG, Sonim Technologies Inc., Telefonaktiebolaget LM Ericsson, and ZTE Corp.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.
Vendor Offerings
Adtran Holdings Inc. - The company offers telecom equipment such as TeraFlex, DCI OLS, OpenFabric Series, and SDX 6000 Series.
ALE International - The company offers telecom equipment such as communication systems, switches, and wireless LAN.
Aspocomp Group Plc - The company offers telecom equipment such as PCBs for homes, offices, and industrial facilities.
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Telecom equipment market ? Market dynamics
Key Drivers
Increasing demand for high-speed internet connectivity drives the growth of the market during the forecast period. Due to the advent of the digital age and the proliferation of connected devices, consumers and businesses are demanding faster and more reliable Internet connections. Furthermore, communication devices provide high-speed Internet connections such as routers, modems, switches, and other network infrastructure. Resultantly, the demand for communication equipment has increased significantly in recent years. Hence, such factors boost the market growth during the forecast period.
Significant Trends
The rising proliferation of IoT and connected devices is an emerging trend shaping the telecom equipment market. The proliferation of IoT has led to the development of various connected devices, such as smartphones, tablets, wearable devices, and other smart devices. This is increasing the demand for communication equipment. Telecommunications equipment includes a wide range of hardware and software products, such as routers, switches, gateways, network interfaces, and other devices. The rise in the number of connected devices increases the demand for data transmission. The increasing adoption of new technologies such as 5G and edge computing is also boosting the growth of the market. In addition, the growing need for network infrastructure upgrades drives the demand for telecommunications equipment.
Major Challenges
The high cost of telecom equipment challenges the growth of the telecom equipment market during the forecast period. The cost of telecommunications equipment, such as hardware, software, installation, and maintenance, is high. This can be a significant barrier for new entrants and can also limit the ability of SMEs to invest in new equipment. As a result, the market may be dominated by large players, thereby reducing innovation and competition. The high cost of telecommunications equipment may limit investment in developing countries. Thus, the high costs are likely to hinder the market growth during the forecast period.
The telecom billing revenue management market size is estimated to grow at a CAGR of 8.73% between 2022 and 2027. The telecom billing revenue management market size is forecast to increase by USD 6.99 billion. This report extensively covers market segmentation by solution (software and services), deployment (on-premise and cloud), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The expanding telecom services are notably driving the market growth.
The telecom operations management market size is expected to increase by USD 24 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.73%. Furthermore, this report extensively covers telecom operations management market segmentations by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rapid advances in technologies driving demand for scalable telecom management solutions is notably driving the telecom operations management market growth.
Telecom Equipment Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 6.13%
Market growth 2023-2027
USD 195.93 billion
Market structure
Fragmented
YoY growth 2022-2023(%)
5.34
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 38%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Actelis Networks Inc., Adtran Holdings Inc., ALE International, Aspocomp Group Plc, AT and T Inc., ATOP Corp., Comba Telecom Systems Holdings Ltd., CommScope Holding Co. Inc., Guangdong Lingyi Intelligent Manufacturing Co. Ltd., Hitech Circuits, Huawei Technologies Co. Ltd., Infinera Corp., Juniper Networks Inc., Motorola Solutions Inc., Qualcomm Inc., Semtech Corp., Siemens AG, Sonim Technologies Inc., Telefonaktiebolaget LM Ericsson, and ZTE Corp.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Component
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global telecom equipment market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global telecom equipment market 2017 - 2021 ($ billion)
Exhibit 154: Juniper Networks Inc. - Product / Service
Exhibit 155: Juniper Networks Inc. - Key offerings
12.12 Motorola Solutions Inc.
Exhibit 156: Motorola Solutions Inc. - Overview
Exhibit 157: Motorola Solutions Inc. - Business segments
Exhibit 158: Motorola Solutions Inc. - Key offerings
Exhibit 159: Motorola Solutions Inc. - Segment focus
12.13 Qualcomm Inc.
Exhibit 160: Qualcomm Inc. - Overview
Exhibit 161: Qualcomm Inc. - Business segments
Exhibit 162: Qualcomm Inc. - Key news
Exhibit 163: Qualcomm Inc. - Key offerings
Exhibit 164: Qualcomm Inc. - Segment focus
12.14 Semtech Corp.
Exhibit 165: Semtech Corp. - Overview
Exhibit 166: Semtech Corp. - Business segments
Exhibit 167: Semtech Corp. - Key news
Exhibit 168: Semtech Corp. - Key offerings
Exhibit 169: Semtech Corp. - Segment focus
12.15 Siemens AG
Exhibit 170: Siemens AG - Overview
Exhibit 171: Siemens AG - Business segments
Exhibit 172: Siemens AG - Key news
Exhibit 173: Siemens AG - Key offerings
Exhibit 174: Siemens AG - Segment focus
12.16 Telefonaktiebolaget LM Ericsson
Exhibit 175: Telefonaktiebolaget LM Ericsson - Overview
Exhibit 176: Telefonaktiebolaget LM Ericsson - Business segments
Exhibit 177: Telefonaktiebolaget LM Ericsson - Key news
Exhibit 178: Telefonaktiebolaget LM Ericsson - Key offerings
Exhibit 179: Telefonaktiebolaget LM Ericsson - Segment focus
12.17 ZTE Corp.
Exhibit 180: ZTE Corp. - Overview
Exhibit 181: ZTE Corp. - Business segments
Exhibit 182: ZTE Corp. - Key news
Exhibit 183: ZTE Corp. - Key offerings
Exhibit 184: ZTE Corp. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 185: Inclusions checklist
Exhibit 186: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 187: Currency conversion rates for US$
13.4 Research methodology
Exhibit 188: Research methodology
Exhibit 189: Validation techniques employed for market sizing
Exhibit 190: Information sources
13.5 List of abbreviations
Exhibit 191: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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