The global network equipment market is anticipated to reach US$ 65,788 million by 2032, up from US$ 29,544 million in 2022, and advance at a CAGR of 8.3% over the forecast period.
A network equipment is a packet-based network that provides services to its users, such as telecommunication services, and is able to use multiple broadbands, quality-of-service (QoS)-enabled transport technologies, and functions that are unrelated to the underlying transport technologies.
The term “Network Equipment” refers to the infrastructures of fixed and mobile networks, including IP-based networks, proprietary networks, and converged networks. Devices such as mobile backhaul equipment, metro access/aggregation, data centre switches, enterprise switches, and routers are needed for the deployment of network equipment solutions.
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The Network Equipment manufacturers are focusing on designing equipment that are affordable, and offer flexible, and scalable solutions and deliver the functionality needed in the equipment.
To meet the growing demand for IP services among the consumers which consume huge amount of bandwidth with every passing day, system manufacturers are continuing to invest in next generation packet-based network elements. This factor acts as one of the prime opportunities for the equipment designing vendors in the coming years.
Global Network Equipment Market: Drivers and Challenges
Rapid technological innovation is a prime factor which is driving the growth in telecommunication industry. A key innovation is transformation from circuit-based public switched telecommunication network to packet-based network using internet protocols which is known as Network Equipment.
This transformation includes shifting from traditional copper wire to optical fiber cables that offers high speed services. NGN offers several features to support data and voice communication services that encourages adoption of advanced services among consumers. This factor is expected to positively impact the Network Equipment market during the forecast period.
The challenges faced by the Network Equipment manufacturers include Ensuring complete compliance and internetworking with a broad range of IPv4, MPLS, IPv6, metro Ethernet and networking standards. Leveraging software investments across diverse hardware platforms in the rapid evolution in market requirement. Delivering packet-based software on time to address requirements for NGN equipment. These factors are expected to act as a challenge to the growth in revenue of global Network Equipment market.
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Global Network Equipment Market: Segmentation
Global Network Equipment market can be segmented into equipment type, enterprise type, and regions.
On the basis of equipment type, global Network Equipment market can be segmented into High fibre copper cables, broadband wireless access devices, broadband devices over power lines, mobile network devices and other satellite connecting devices.
On the basis of enterprise type, global Network Equipment market can be segmented into small enterprise, medium enterprise and large enterprise.
Global Network Equipment Market: Regional Outlook
On the basis of regions, global Network Equipment market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America accounts for largest market share in the global Network Equipment market owing to the advanced technology and easy adoption in the countries such as the U.S and majority of the equipment manufacturers located in the region. The revolution in the IT and telecommunication sectors are offering lucrative growth opportunities for regions such as Western Europe Network Equipment market.
Asia Pacific excluding Japan is expected to have maximum potential for the revenue growth of global Network Equipment market during the forecast period. Latin America, Middle East and Africa, Eastern Europe are among the regions which are expected to witness positive growth during the forecast period.
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Key Segments
By Type:
- High-fibre Copper Cables
- Broadband Wireless
- Broadband Devices Over Power Lines
By Application:
- Business
- Industrial
- Hospitals
- Retail Industry
- Corporations
- Lifestyle
By End User:
- Small
- Medium
- Large Enterprises
By Region:
- North America
- Latin America
- MEA
- Asia Pacific
- Europe
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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