LONDON–(BUSINESS WIRE)–Technavio has been monitoring the telecom power solutions market and it is poised to grow by USD 2.42 billion during 2020-2024, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Alpha Technologies Ltd., Ascot Industrial Srl, Beijing Dynamic Power Co. Ltd., Cummins Inc., Delta Electronics Inc., Eaton Corp. Plc, Huawei Investment & Holding Co. Ltd., Schneider Electric SE, Vertiv Group Crop., and ZTE Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Growing investment in telecommunication networks has been instrumental in driving the growth of the market. However, the growing popularity of massive MIMO and vRAN for 5G implementation might hamper the market growth.
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Telecom Power Solutions Market 2020-2024: Segmentation