According to the research report titled ‘Global Telecom Equipment Market Size study, by Type (Public Switching, Transmission, Customer Premise) by Infrastructure (Wired, Wireless) by Application (Banking, Retail, Consumer Electronics, Government, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global telecom equipment market is expected to amass significant revenues during 2020-2026.
Telecom equipment is the hardware used for telecommunication and includes optical fiber base transceiver stations, modems, teleprinters, mobile phones, digital switches, communication satellites, fax machines, routers and more. Booming telecom industry is boosting the demand for telecom equipment. Rising penetration of mobile phones will propel the growth of global telecom equipment market.
Further, huge expenditure on enterprise IT across business verticals is expected to contribute to the industry expansion. While some organizations are opting for in-house network, others are outsourcing managed services to enhance their telecommunication capabilities. Rise in small and medium sized enterprises worldwide is impelling telecom equipment market outlook.
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Although, threats for data privacy and network security expected to hamper the market growth over 2020-2026, but adoption of advance technologies like IoT to offer proficient network connectivity will boost the business scenario. Growing popularity of connected cars, smart phones, and smart homes is expected to offer lucrative opportunities for global telecom equipment market growth.
Based on type, the industry is segmented into customer premise, transmission, and public switching. With regards to the infrastructure, the industry is divided into wired and wireless. While speaking of application spectrum, telecom equipment market is classified into consumer electronics, banking, government, retail, and others.
Geographically, North America is the major contributor to global telecom equipment market share presently, owing to extensive adoption of telecommunication in private organizations and rising penetration of connected cars, smart homes, and IoT technologies.
Meanwhile, Asia-Pacific market is anticipated to witness robust growth during 2020-2026, owing to increasing number of small & medium size enterprises and inflowing investments towards development of telecom & IT Infrastructure in the region.
Leading companies operating in global telecom equipment market include Telefonaktiebolaget LM Ericsson, TCL Corporation, Huawei Technologies Co. Ltd., Alcatel-Lucent S.A, ZTE Corporation, Noki
a Solutions and Networks, Fujitsu Ltd., Lenovo Group Limited, Cisco Systems Inc., and Qualcomm.