Global fixed line communications equipment market to grow at a CAGR of 4.1% during the period 2017-2021.
The latest trend gaining momentum in the market is the emergence of cloud storage. The cloud is a virtual platform remote in nature, which is used to store, manage, and retrieve data or resources as and when required by the enterprises. The increase in the data capable devices and the web applications has necessitated the need for scalable cloud technology. Many enterprises are inclined toward the cloud storage to eliminate investments required for the storage hardware and physical infrastructure.
According to the report, one of the major drivers for this market is the growing demand for data centers. The advent of big data analytics, IoT, and cloud-based services has increased the demand for data centers across the globe. At present, the US is the largest market for the data center operations. The increasing adoption of the data centers is fueling the demand for the router products, which, in turn, is having a positive impact on the fixed line communications equipment market. The network equipment plays one of the most vital roles in the operations of the data centers. The demand for data centers is increasing among the large enterprises, government agencies, and the telecommunication organizations. In addition, there is a growing demand for the colocation facilities among the SMEs, which is further fueling the demand for data centers, thereby driving the fixed line communications equipment market.
Further, the report states that one of the major factors hindering the growth of this market is the training and development of technicians. The fixed line communications equipment market is growing at a modest rate. The market is witnessing increased installations and R&D investments. In addition, the availability of skilled technicians who have expertise in the products is important. It is mandatory that technicians are updated and well versed with the associated and dynamic technologies surrounding the fixed line communications. Lack of knowledge and training in the technicians will be a hindrance to the deliverance, which will affect the growth of the market.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.