NEWARK, Del, Oct. 25, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the global telecom tower power system market size is likely to be valued at US$ 3.3 Billion in 2023. The rapid growth of the telecommunication industry is driving the market growth. The market is estimated to garner US$ 6.4 Billion in 2033, recording a CAGR of 6.9% from 2023 to 2033
Increasing demand for efficient and reliable power solutions for telecom infrastructure is the main factor likely to drive the growth of the telecom tower power system industry.
Increasing demand for energy-efficient power systems across the globe and initiatives undertaken in introducing green telecom power systems boost the market growth. The demand for telecom tower power systems has increased consistently with the advent of 5G technology across the globe in recent years.
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Increasing government initiatives and policies aimed at expanding telecommunication infrastructure, improving connectivity, and bridging the digital divide contribute to the growth of the telecom tower power system industry during the forecast period.
Increasing concerns about environmental sustainability and the need to reduce carbon emissions drive the adoption of green and sustainable power solutions in the telecom tower industry.
Increasing significant investments in the deployment of telecom towers and the expansion of network coverage drive the telecom tower power system market in North America. With increasing focus on cost-effective and reliable power solutions in countries like India and China, Asia Pacific is experiencing rapid growth in the telecom tower power system industry.
Key Takeaways from the Market Study:
- From 2018 to 2022, the telecom tower power system market demand expanded at a CAGR of 5.8%.
- Based on product type, the outdoor telecom power system segment accounts for a CAGR of 6.7%.
- By power source, the diesel generator + battery segment is expected to expand at a CAGR of 6.6% during the forecast period.
- North America to emerge as a promising telecom power system segment market, capturing a CAGR of 6.8%.
“The increasing advances in telecommunication and the introduction of fifth-generation technology are expected to drive the market in the forecast period. The increasing use of energy storage solutions, power electronics, and remote monitoring systems, is projected to play a vital role in strengthening the market” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
The global telecom tower power system industry is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements in order to capture market share.
Prominent players in the telecom tower power system market and their recent developments are as follows:
- ABB Ltd
- Schneider Electric
- Indus Towers Ltd.
- Delta Electronics Inc.
- Vertiv
- STMicroelectronics NV
- Bharti Infratel Ltd.
- Eaton Corporation PLC.
- Huawei Technologies Co Ltd.
- Texas Instruments Inc
For instance;
- Schneider Electric offers integrated power systems, energy storage solutions, and advanced monitoring and control systems. Schneider Electric emphasizes energy efficiency and sustainability in its power solutions, enabling telecom operators to optimize their power consumption and reduce their carbon footprint. The company's developments include smart grid integration and microgrid solutions for telecom towers.
- Vertiv offers a range of power systems, including backup power solutions, intelligent power distribution units, and monitoring software. Vertiv focuses on reliability, efficiency, and remote monitoring capabilities to ensure uninterrupted power supply for telecom towers. The company's developments include advancements in power management software and energy storage.
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Know More about What the Telecom Tower Power System Market Report Covers:
Future Market Insights offers an unbiased analysis of the global telecom tower power system industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the telecom tower power system market, the market is segmented based on product type and power source across five major regions.
Telecom Tower Power System Industry Segmentation Analysis:
By Product Type:
- Outdoor Telecom Power System
- Indoor Telecom Power System
By Power Source:
- Diesel Generator
- Diesel Generator + Battery
- Renewable Energy
- Solar
- Wind Turbine
- Biomass
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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About Industrial Automation at Future Market Insights:
The Industrial Automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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