A significant expansion is anticipated in the telecom equipment market, with its value projected to reach $50 billion by FY32. This growth is driven by increasing demand, with mobile network traffic expected to rise substantially over the next few years. Domestic manufacturing capabilities are also improving, with a notable increase in handset production and a reduction in reliance on imports. Further information on this trend and its implications can be found in a report by KPMG.

The report highlights a disparity between the growth in demand and the revenue generated by operators.

Growth in this sector is expected to outpace the global average, with the market nearly doubling in size over the specified period.