Telecom Service Provider Equipment Market : Segments, Opportunity, Growth And Forecast By End-Use Industry
- Telecom service provider equipment is hardware, mainly used for telecommunication purposes. Telecommunication service provider equipment also used as an IT equipment includes enterprise networking equipment, PBX equipment, mobile devices, and base stations.
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Extensive industrial activity driving the telecom service provider equipment market
- Advent of the IT and ITES industry across emerging economies has increased the overall industrial activity. Banking, and IT & ITES are major sectors adopting telecom service provider equipment and mobility solutions to improve the customer experience. This has created immense opportunity for global operators to establish and engage in business with companies operating in these sectors to adopt telecom service provider equipment. Additionally, in the IT/ITES industry, rise in demand for enterprise connectivity solutions is attributed to the requirement for voice channels, high-speed connectivity, and the expansion of back-office/ BPO companies, which has led to demand for IP and international private leased circuits. Therefore, widespread industrial activity across various industries such as IT, and banking, is driving the growth of the telecom service provider equipment market.
Increasing construction of data centers to store increasing amounts of data expected to drive the telecom service provider equipment market in the near future
- According to studies conducted by various telecom vendors such as Cisco Systems Inc., global annual IP traffic was around 122 EB per month or 1.5 ZB per year in 2017 which is estimated to reach 396 Exabytes (EB) per month or 4.8 ZB per year in 2022. This growth is estimated at a compound annual growth rate (CAGR) of 26% from 2017 to 2022. The growth is mainly driven by the growing number of mobile and wireless devices worldwide. This growth of data is influencing the demand for better & efficient telecom service provider equipment, thereby leading to the growth of the telecom service provider equipment market.
Lack of skilled professionals hampering the growth of the telecom service provider equipment market
- At a time when the industry is facing various threats from different emerging technologies, professionals in the telecom industry seem less skilled when compared to professionals in other industries such as cloud service providers or integration service providers who solely focus on that particular business. This is primarily due to the constant change the professionals and increasing technological advancements in telecom service provider equipment are subjected to as the industry itself is undergoing a massive change. Therefore, lack of skilled professionals is hampering the growth of the telecom service provider equipment market.
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Asia Pacific expected to hold major share of the global telecom service provider equipment market
- In terms of region, the global telecom service provider equipment market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- Asia Pacific is expected to hold major share of the global telecom service provider equipment market due to huge investment or funding in telecommunication infrastructure specifically by major Asian countries such as Japan, China, and India.
- North America is expected to be the fastest growing region in the global telecom service provider equipment market due to increasing technological development in the telecommunication industry.
Global Telecom Service Provider Equipment Market- Competitive Landscape
- Huawei Technologies Co Ltd.
- Nokia
- Ciena
- Cisco Systems, Inc.
- Fujitsu Ltd.
- Juniper Networks, Inc.
- ZTE Corporation
- Ericsson
- Qualcomm, Inc.
- Motorola Solutions