Telecom Equipment Global Market Report 2024

The telecom equipment market size has grown strongly in recent years. It will grow from $591.2 billion in 2023 to $636.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The expansion witnessed in the historical period can be credited to the widespread adoption of wireless communication, the rising number of smartphone users, the expanding reach of smart infrastructure driving global consumer electronics demand, and the escalating need for high-speed communication systems.

The telecom equipment market size is expected to see strong growth in the next few years. It will grow to $813.8 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be ascribed to the demand for state-of-the-art wireless telecom equipment and network infrastructure, the increasing interest in 5G technology, a surge in demand for IoT-based smart applications, the expansion of the mobile telecommunications business, and a heightened demand for diverse home improvement products and electronic devices. Key trends in the forecast period encompass a rise in the number of smart city projects in developing nations, the advancement of sophisticated telecom communication networks, technological innovation, progress in internet infrastructure, and the deployment of 5G networks.

The anticipated growth of the mobile telecommunications industry is set to drive the expansion of the telecom equipment market in the future. Mobile telecommunication involves the wireless transmission of voice, data, and multimedia, enabling users to communicate and access information. The increasing demand for mobile telecommunications is fueled by rising connectivity needs, widespread smartphone adoption, and the continuous expansion of digital services. To meet the growing customer demand for reliable and high-speed mobile communication services, mobile telecommunications businesses utilize telecom equipment to enhance their network infrastructure and improve service quality. A notable example is the State of Mobile Internet Connectivity Report by the UK-based GSM Association in October 2023, revealing that global mobile internet usage reached 4.6 billion individuals in 2022, constituting 57% of the world's population, up from 55% in 2021.

Key players in the telecom equipment market prioritize technological innovation, particularly in software automation, to boost network capabilities and performance. This approach streamlines repetitive tasks, enhancing efficiency and reducing manual efforts across various industries. For instance, in October 2023, the Swedish networking and telecommunications company Telefonaktiebolaget LM Ericsson introduced an advanced software toolkit aimed at enhancing 5G standalone network capabilities. This toolkit facilitates premium services with exceptional connectivity for use cases such as mobile cloud gaming, video conferencing, live broadcasting, remote-controlled machines/vehicles, public safety services, and extended reality applications. It provides enhanced features for massive multiple-input multiple-output (MIMO), advanced radio access network slicing, time-critical communication, and 5G core.

In August 2023, Jio Platforms Limited, an India-based company offering end-to-end enterprise-business 5G services, acquired Mimosa Network Inc. for $60 million. This strategic acquisition will strengthen Jio Platforms, the home of Reliance Industries Limited's telecom venture Reliance Jio, by incorporating Mimosa's point-to-point and point-to-multi-point products. Mimosa Network Inc., a US-based telecommunications equipment manufacturer, will contribute to enhancing Jio Platforms' 5G and broadband offerings.

Major companies operating in the telecom equipment market are Samsung Electronics Co. Ltd., Verizon Communications Inc., Deutsche Telekom AG, AT&T Corporation, NTT Communications Corporation, Huawei Technologies Co. Ltd., Cisco Systems Inc., Qualcomm Technologies Inc., Fujitsu Limited, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, TE Connectivity Ltd., CommScope Holding Co Inc., Keysight Technologies Inc., Juniper Networks Inc., Ciena International Inc., Viavi Solutions Inc., Extreme Networks Inc., Mavenir Systems Inc., Adtran Inc., Ribbon Communications Inc, SIA Mikrotīkls, Ceragon Networks Ltd., Alcatel Lucent Teletas Telekomunikasyon AS, Baicells Technologies Co. Ltd., Cambium Networks Corporation, RADWIN, TELNET Redes Inteligentes S.A.

North America was the largest region in the telecom equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the telecom equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Telecom equipment pertains to the hardware and devices associated with telecommunications networks, facilitating the transmission, reception, and processing of data and voice signals. Its role in connectivity involves enabling the exchange of voice, data, and multimedia across various communication channels over extensive distances, fostering connections among individuals, businesses, and organizations on local, national, and global scales.

The primary categories of telecom equipment encompass network communication equipment, mobile communication devices, and optical communication equipment. Network communication equipment, including routers, switches, and modems, plays a crucial role in facilitating the seamless exchange of data across interconnected devices and networks. These components integrate both hardware and software, incorporating technologies such as 2G, 3G, 4G LTE, and 5G within wired and wireless infrastructure. End users, such as those in banking, financial services, and insurance (BFSI), retail, information technology and telecommunication, media and entertainment, healthcare, military and defense, consumer electronics, and other sectors, benefit from these advancements.

The telecom equipment research report is one of a series of new reports that provides telecom equipment market statistics, including the telecom equipment industry's global market size, regional shares, competitors with an telecom equipment market share, detailed telecom equipment market segments, market trends and opportunities, and any further data you may need to thrive in the telecom equipment industry. This telecom equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The telecom equipment market consists of sales of antennas, multiplexers and demultiplexers, and modems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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