And the picture remains gloomy into 2024.
New figures from Dell'Oro show a 5% year-on-year slide in the around US$100 billion market, a worse performance than it had expected, driven amongst other things by a slowdown in 5G and home broadband investments, as well as macroeconomic trends and the remains of a post-Covid hangover.
The news comes as something of a surprise, the analyst firm having reported 2% market growth in the first half of the year, albeit with Q2 coming in flat. Further, the slide follows five consecutive years of growth, the analyst firm said.
Just as in the first half of the year, the pace of market decline in North America was faster than it had anticipated, the size of that market naturally dragging down results from the rest of the world. The region saw around a 20% slide in 2023 on the back of weak activity in the mobile RAN and broadband access sectors.
