According to a new report from Dell'Oro Group, a market research firm,Huawei maintained its leading position in the global telecom equipment market in 2022 despite slower growth than expected.

In addition to more challenging growth in the advanced 5G market and the withdrawal of suppliers from the Russian market, the stronger U.S. dollar has also weighed on the broader telecom equipment market, the report noted. Supply issues also had a negative impact on the market in the first half of 2022, but this issue eased in the second half.

Market conditions were mixed across different regions of the world, with strong growth in North America and the Caribbean and Latin America (CALA) more than offsetting more challenging conditions in Europe, the Middle East and Africa (EMEA) and Asia Pacific. The Chinese market grew by about 4%, and we expect global telecom equipment market revenues excluding China to grow by about 3% in 2022.

Huawei still leads the global telecom equipment market, in part because it remains the No. 1 vendor in five of the six telecom segments we track.

Nokia, Ericsson and Huawei will remain the top three suppliers outside China in 2022, accounting for about 20 percent, 18 percent and 18 percent of the market, respectively, as demand for 5G base station equipment exceeds supply.