The global communications hardware market size is expected to grow from $608.43 billion in 2021 to $677.20 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The communication hardware market is expected to reach $1,005.37 billion in 2026 at a CAGR of 10.4%.
What is the Global Communications Hardware Market?
The communications hardware market consists of sales of communications hardware by entities (organizations, sole traders and partnerships) that provide telephone apparatus, and broadcasting and wireless communications hardware. It includes sales of wired and wireless communication hardware equipment. Examples of telephone apparatus hardware are central office switching equipment, cordless telephones (except cellular), PBX equipment, telephones, telephone answering machines, local area network (LAN) modems, multi-user modems and other data communications equipment, such as bridges, routers and gateways. Examples of broadcasting and wireless communications hardware include transmitting and receiving antennas, cable television equipment, Global Positioning System (GPS) equipment, pagers, cellular phones, mobile communications equipment, and radio and television studio broadcasting equipment.
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What drives the Global Communications Hardware Market?
The communications hardware market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human to computer interaction. Smart cities are integrated with communication equipment, thereby benefitting the companies operating in this market. APG Algemene Pensioen Groep N.V. announced investment of €250 million in “Smart City Infrastructure Fund”, for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
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Global Communications Hardware Market Segments
The global communications hardware market is segmented:
By Type: General Communication Equipment, Broadcast Communications Equipment, Telecom Infrastructure Equipment
By Application: Military Use, Civil Use
By End-User: Telecom Operators, Internet Service Provider, Cable Operator, Personal User, Business and Government
By Geography: The regions covered in the communications hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Communications Hardware Global Market Report 2022provides market size and growth forecasts for the global communications hardware market, global communications hardware market share, communications hardware market segments and geographies, communications hardware market competitive landscape including leading competitors’ revenues, profiles and market shares. The communications hardware market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Communications Hardware Industry Playersinclude Apple, Huawei, Samsung Electronics Co., Ltd., AT&T Inc., Compal Electronics, Inc., Cisco Systems, Inc., Xiaomi Corporation, Hon Hai Precision Industry, Lenovo Group Limited and T-Mobile USA, Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
