Wireless Communication Equipment Market Size, Global Industry Analysis Report, Regional Outlook, Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4936
Wireless Communication Equipment Market size will observe substantial growth over the forecast time period on account of the increasing penetration of smartphones providing 4G wireless communication services. According to Digital 2019 January report there are 5.112 billion unique smartphone users around the globe which is a penetration of 67%. Smartphones have taken over the traditional wired fixed line form of communication due to their various benefits which are broadcasting of information quickly to the consumers, working professionals can access the internet anywhere without the need to carry cables, doctors and medical professional in rural areas can be in touch with medical professional through the use of high speed internet that these smartphones offer, wireless communication is cheaper than the traditional wired system owing to the decreased cost of investment in deployment of fibre optics cables. The demand for wireless communication will help in driving the market growth.
The increasing adoption of Internet of Things (IoT) which allows various devices installed anywhere across the globe to transfer information between themselves through the use of traditional RF technology will also help in contributing to the growth of the wireless communication equipment market. IoT devices has become critical for various sectors. Rapid usage of various IoT devices in the enterprise will require various wireless communication equipment’s to be deployed so as to support these devices to transmit data.
The wireless communication industry is often criticized due to the various security threats and data exploitation options that it creates for the cyber hackers. For instance, in 2019 a hacking campaign “Operation Soft cell” had targeted 10 different global telecommunication provider for more than 2 years by hacking into their telecom infrastructure stealing hundreds of gigabytes of data. The targets of these attackers were identified to be present in different countries of Europe, Africa, the Middle East and Asia. These instances can be considered as hindrances to the market expansion owing to their vulnerability through which cyber attackers can gain access to the infrastructure and steal personal data of various customers. Equipment manufacturer need to follow various security guidelines for making customers believe that their equipment’s are not vulnerable to cyberattacks.
The upcoming 5G telecommunication service will create a huge opportunity for the wireless communication equipment market. The capability of 5G to provide high speed internet, enhanced support for IoT devices, improved customer services in stadiums, fixed wireless access home internet will allow equipment manufacturers to innovate their product portfolio’s. It will also create opportunity for wireless communication equipment manufacturers to acquire new contracts from industries apart from the telecommunication industry especially the manufacturing industry which is rapidly adopting the Industrial IoT (IIoT).
The radio wave communication will hold the highest wireless communication equipment market share during the forecast period led by the increasing penetration of smartphones which allows users to communicate and access the internet without the need of cables. The growing number of Internet of Things devices coupled with the 5th generation of telecommunication will further drive the segment growth during the forecast timeline. Satellite communication will also see a huge growth during the forecast period impelled by the increased spending from various governments across various region to explore the space for which they are investing into various equipment’s which can be used for efficient communication with the satellites.
The North American wireless communication equipment market is estimated to account for the large revenue share propelled by the establishment of advanced telecommunication infrastructure in the region coupled with the rising acceptance of various fixed and wireless communication devices like IoT devices, smartphones, and satellites. Rapid adoption will generate a huge demand for new wireless communication equipment’s with enhanced security features.
The Asia-Pacific market will experience tremendous growth during the forecast period on account of the high population of this region who are still adopting IoT and smartphones devices. With 5g yet to be launched in most of the countries in this region, the communication equipment market will grow exponentially once the next generation of telecommunication is starting to get adopted
The wireless communication equipment market is dominated by prominent companies. The industry is highly fragmented due to the presence of both established market leaders and new entrants operating across the globe. Some of the key players include Huawei Technologies Co Ltd., Nokia Networks, Toshiba Electronics Devices, Ericsson, ZTE corporation, Ciena Corporation, Juniper Networks, Cisco Systems Inc and Samsung Electronics and Co. Industry participants are focusing on strategic alliances and product innovation to increase their global market share.
The wireless communication equipment market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:
Market, By Type
- Satellite Communication
- Infrared Communication
- Radio Wave Communication
- Microwave Communication
Market, By End-Use
- IT & Telecommunication
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
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