The growth in telecom infrastructure is supporting the demand for new power system for telecom networks and towers, thus boosting the market growth
Global demand for telecom power systems is likely to reach around $5.11 billion by 2024, with a compound annual growth (CAGR) of 10.5% between 2018 and 2024, according to a report Zion Market Research.
The global telecom power system market was valued at approximately $2.54 billion in 2017, the report said.
Telecom power system is the network of systems that are specifically designed for internet support, datacenters, wireless broadband access and fixed-line applications. These systems are used for efficiently storing energy on batteries when there is no AC supply. These power systems are uninterruptable and also reduce noise of the main supply.
Growth in telecom infra
Citing the reasons for such growth, the report mentioned that the increasing adoption of hybrid power system is pushing up the growth of telecom power system market. In addition, the growth in telecom infrastructure is supporting the demand for new power system for telecom networks and towers, thus boosting the market growth.
Geographically, Asia Pacific (APAC) region is leading in the growth of telecom power system market and is expected to continue its dominance in the forecast period, the report stated.
China leads in the Asian region, due to high rate of population growth backed by a huge number of mobile users, it added.
Scope for developing markets
According to the report, introduction of 4G LTE network offers an extensive scope for developing markets to create their strong presence in the APAC market. Europe has a substantial share in the global market due to the robust presence of automobile industry.
Telecom tower firms in North America region have launched femtocells and picocells that have compressed the size of the power system and cut down the procurement, installation and logistics cost. The telecom power system market in North America has seen a huge shift towards hybrid power solutions, which will improve the profit margins for the telecom operators or service providers, the report said.