Telecom Equipment Market Set For Rapid Expansion During Forecast Period 2022-2029

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The growing internet and smartphone penetration, coupled with the above factors, are poised to create sound growth prospects for the market

The advancements in communication technologies have been an instrumental element in the paced growth and adoption of modern technologies. From customer service to healthcare, entertainment and sports, government operations, and everything in between, communication is the fuel of many processes today. This creates a constantly increasing need to establish a robust communication network and infrastructure. Moreover, with the mounting sales of smartphones and growing dependence on internet connectivity, the sales of modern telecommunication equipment are expected to skyrocket in the coming years. According to some reports, the number of internet users in April 2022 was 5 billion, or 63% of the total global population. Such prerequisites are setting the precedent for the growth of the global telecom equipment market. Other favourable factors include growing online retail, services, and goods trade, digitalisation of the healthcare industry, e-government services, and increasing subscriptions for media and entertainment content.

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Growing Smartphone and Internet User Base to Bode Well for Telecom Equipment Market

A key contributor to the paced growth of the global telecom equipment market is the ever-growing user base of smartphones and next-gen internet connectivity. Many developed and developing regions are rapidly expanding their 5G telecom network. Such trends are positively affecting the demand for telecom cabling equipment. Moreover, the need for high bandwidth and low latency network infrastructure is soaring at an unprecedented rate. Meanwhile, the growing consumer base of e-commerce and m-commerce platforms is also creating desirable business possibilities. The growing internet and smartphone penetration, coupled with the above factors, are poised to create sound growth prospects for the market.

Paced Demand for Wireless Networks to Facilitate Sustained Expansion of Telecom Equipment Market

The recent advancements in wireless communication technologies have enabled the invention of a wide array of cutting-edge telecom equipment. These include IP telephony, microwave transmission, radio access network (RAN), optical transport, mobile backhaul, routers, carrier ethernet switches, and wireless packet cores. All these types of equipment help build a robust wireless telecommunication infrastructure. Such innovations have changed the way many organisations work, for instance, the bring your own device (BYOD) model is being adopted rapidly against the backdrop of the growing remote working trend. The burgeoning employment of wireless communication methodologies is steering the global telecom equipment market to assured fruition.

North America’s Telecom Equipment Market to Stay Dominant Owing to Expanding Wireless Network, and Thriving Remote Working Culture

Relatively high technology adoption and innovation, coupled with the rapid expansion of wireless telecommunication networks are establishing North America’s lead in the telecom equipment industry. With the emerging trend of remote working and enterprise mobility, the need for more efficient, reliant, robust, and speedy communication. The demand for telecom equipment in the region is further amplified by the growing usage of IoT-based, innovative applications. With the surging demand for a fast network and the concentration of key players, North America is likely to maintain its promising growth trajectory.

Leading Market Players

Some of the key players in the global telecom equipment industry include Samsung Group (South Korea), Extreme Networks Inc. (US), Huawei Technologies Co. Ltd (China), ZTE Corporation (China), Cisco Systems Inc. (US), Nokia (Finland), Telefonaktiebolaget LM Ericsson. (Sweden), Fujitsu Ltd ;(Japan), Qualcomm Technologies Inc. (US), Ribbon Communications Operating Company Inc. (US), Ciena (US), CommScope Holding Co. Inc. (US), Juniper Networkds Inc. (US), and NEC Corporation (Japan).

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