The communication relay market is expected to grow by USD 93.31 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters “ with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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The convergence of IT, audio, and visual technologies has increased the demand for miniaturized electronic components both in consumer electronics and electronic equipment. In addition, the inclusion of a number of sensors and processors is increasing the use of mixed functional structures, such as flexible subtracts. Electrical components such as diodes, relays, rectifiers, thyristors, and other discrete components are required to reduce the overall power use and protect electronic devices. But this leads to propagation issues and power loss, which can lead to shorter uptime for battery-powered devices. Hence, communication relays such as reed relays and compact signal relays are used to overcome such challenges by providing fast switching action and a low forward voltage drop. Also, their compact design makes them an effective option for use in communication and telecom equipment. Therefore, the miniaturization of electronic components is expected to fuel the growth of the global communication relay market during the forecast period.
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As per Technavio, the increasing demand for wireless communication networks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Communication Relay Market: Increasing Demand for Wireless Communication Networks
Factors such as rapid penetration of the Internet, rising demand for digital content, and the growing adoption of IoT-enabled devices has significantly increased the demand for wireless communication networks worldwide. This is increasing the adoption of wireless communication devices such as wireless routers and modems among commercial, residential, and industrial end-users. These devices use signal relays for switching and controlling network connections. Therefore, the rising demand for wireless communication networks is expected to have a positive impact on the growth of the global communication relay market.
Rise in the number of M&A activities in the telecom industry and increasing investments in LTE-A will further boost market growth during the forecast period, says a senior analyst at Technavio.
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Communication Relay Market: Segmentation Analysis
This market research report segments the communication relay market by application (telecom switching systems, mobile base stations, broadband equipment, and broadcasting studios) and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the communication relay market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing deployment of LTE networks and rising data traffic in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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