Microwave Equipment Market By Technology (LTE, HSPA/HSPA+, WiMAX, Satellite, and Wireless Broadband) and By Vertical (Banking, Financial Services, and Insurance (BFSI), IT & Telecom, Media & Entertainment, Public Sector, Retail, Manufacturing, Healthcare, and Other Verticals): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024
Sarasota, FL -- (SBWIRE) -- 09/05/2018 -- According to the report, global microwave equipment market was valued USD 5.44 billion in 2017 and is expected to reach around USD 6.95 billion by 2024, at a CAGR of approximately 3.56% for the forecast period from 2018 to 2024.
The microwave equipment market is gaining attention due to rising demand for the microwave transmission technology across the globe. Microwave equipment provides wireless technology and smart networks which is expected to grow significantly in the coming years. The microwave equipment market players have been focusing on the new technological innovations, safety, and durability. The emerging economies are anticipated to deliver lucrative growth opportunities to the microwave equipment market as compared to the developed countries with advanced infrastructure.
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The microwave equipment market is predicted to witness double digit growth rate owing to the growing number of high-speed packet access (HSPA+) network. With the use of higher order modulation, the advanced version of HSPA+ provides data rates of 84.4 and 168 Mbit/s to the mobile device for downlink and 22 Mbit/s from the mobile device for uplink under ideal signal conditions. The microwave equipment market is categorized into technology, vertical, and regions. The technology segment for the microwave equipment market includes LTE, HSPA/HSPA+, WiMAX, satellite, wireless broadband. On the basis of verticals, the market is fragmented into retail, media and entertainment, banking, financial services, and insurance (BFSI), IT and telecom, public sector, manufacturing, healthcare, and other verticals.
The regional segment is bifurcated into five key regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These regions are segmented into various countries such as the U.S., the UK, France, Germany, China, Japan, India, and Brazil. In 2017, Asia Pacific held the leading position with the highest share in the microwave equipment market. The region is further anticipated to grow tremendously, owing to the growing technologies and investments in IT industries. It has also been witnessed that the installation of antennas and internet connection were high in the previous years. The development of economies and rise in disposable incomes has increased the preference for microwave technology. The Middle East and Africa region are also expected to face significant growth due to the high level of investment that is prevalent in this region. According to Ericson, Asia Pacific will emerge as the second fastest growing region for 5G subscriptions, with 10% of all subscriptions being 5G in 2022. North America will roll on with 25% 5G subscriptions in 2022. It is even predicted that the Middle East and Africa will dramatically shift its 80% of subscriptions on HSPA/HSPA+ and LTE thereby, contributing to the growth of the microwave equipment market.
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Some of the prominent players in the microwave equipment market include ZTE Corporation, Huawei, Ericsson, Bridgewave Communications, Nokia Networks Alcatel-Lucent, Dragonwave, Proxim Wireless, NEC, and E Band Communications. Other industry participants include Ceragon Network Ltd., Exalt Communication, Aviat Networks, Adtran, Intracom Telecom, E-band, SIAE Microelettronica S.p.A, Trango System, Cambridge Broadband, and Siklu, among others.
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