The global communications hardware market, one of the major
segments of the information technology industry, is expected to grow to above $1000
billion by 2021 at a compound annual growth rate (CAGR) of nearly 11%.
The global economic growth is one of the major drivers of
the communications hardware market. The global economy is expected to go
through a continued period of steady growth rate during the forecast period.
The US economy is expected to consistently show strong growth rate during the same
period. The European market is expected to see growth return later in the
period, between 2017 and 2018. Emerging markets such as India and China, are
expected to witness higher levels of growth than the developed markets. This
continued economic growth will increase the demand for telecommunications
hardware. The level of economic development will also influence the quality of
infrastructure which supports the growth of this industry.
However, a restraint on this market could be the reduction
in free trade. Many developed and developing economies are imposing
restrictions on free trade to boost their local economy. Brexit is likely to
lead to more trade restrictions between the UK and other countries in Europe. The
US administration is expected to adopt a more protectionist stance, and
renegotiate many trade agreements, including NAFTA. These changes could set off
a wider trade war reversing the recent trend towards greater global free trade.
For example, according to a report by the International Monetary Fund in 2015,
rise in trade barriers, could increase import prices by 10% and decrease
exports by 15% in the next five years, thus affecting the growth of the
communications hardware market which relies on the easy and cheap movement of
goods between countries.
Find TBRC’s report on the communications hardware market: https://www.thebusinessresearchcompany.com/report/communications-hardware-global-market-report-2018
The increasing globalization of communications hardware has
created the need for standardization of products involved. Standardization of
communications hardware would enable inter-operability between equipment and
systems across companies and countries. The fast pace of innovation in the
communications equipment market makes it necessary to revise standards at
regular intervals, which is hard to do with so many differences. Lack of
consensus among different countries on what constitutes an ideal standard
thwarts attempts at standardization. The diverse specifications of products
designed by different companies also make standardization tough. Despite all
the above problems, attempts at standardization have continued and accelerated
in recent years. For instance, G.600-G.699 standard was defined by ITU for
transmission media and optical systems.
Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=262&type=smp
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