Communications Hardware Global Market Report 2021: COVID 19 Impact and Recovery to 2030
Major companies in the communications hardware market include Apple; Samsung; Cisco Systems; Huawei Technologies and Ericsson. The global communications hardware market is expected to grow from $625.
New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Communications Hardware Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009823/?utm_source=GNW
11 billion in 2020 to $666.53 billion in 2021 at a compound annual growth rate (CAGR) of 6.6%. The growth 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 market is expected to reach $900.88 billion in 2025 at a CAGR of 8%.
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. The communications hardware market is segmented into general communication equipment; broadcast communications equipment and telecom infrastructure equipment.
Asia Pacific was the largest region in the global communications hardware market, accounting for 32% of the market in 2020. Western Europe was the second largest region accounting for 29% of the global communications hardware market. Middle East was the smallest region in the global communications hardware market.
Rapid increase in energy consumption has been a major threat to environmental protection and sustainable development, thus driving the development of green technologies. For instance, communications hardware accounts for about 2%-4% of the total global carbon emissions. Due to access to the high-speed internet provided by next-generation wireless networks and increased smartphone usage, data traffic has increased significantly. This has triggered a significant expansion of network infrastructures and increased the energy demands. Environment friendly batteries, renewable energy sources, and intelligent management of the power systems are being developed to reduce carbon emissions.
The communications hardware industry is increasingly targeted by hackers, so exposing various security issues. For instance, according to Avast 2019 Smart Home Security Report, 40.8% of all smart homes have at least one vulnerable connected device and 59.7% of household routers worldwide are vulnerable. Hackers disrupt, intercept or deny communications. Despite various measures taken by the companies, telecommunications hardware is still vulnerable to data thefts. Due to the extreme cases of surveillance, the U.S and Indian government banned the Huawei Company. Hence, these security issues hindered the growth of the communications hardware industry during the historic period.
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. In 2018, 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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