Escalating demands for seamless connectivity, swift data transfer, and substantial government financial support are bolstering the communication and networking sector’s vigorous ascent.
Hence, it could be wise to assess tech stocks BlackBerry Limited (BB – Get Rating), Motorola Solutions, Inc. (MSI – Get Rating), and AudioCodes Ltd. (AUDC – Get Rating) and warrant a comprehensive analysis to gauge their potential as value-oriented investments. Let’s understand this in detail.
Since the onset of the pandemic, individuals globally have actively adapted their work approaches and lifestyles to seamlessly integrate into virtual realms. As remote work and virtual interactions proliferate, the imperative for resilient communication and networking infrastructure has surged.
The increasing demand for swift, uninterrupted data transfer is fueling the requirement for cutting-edge communication and networking technologies. Moreover, the market is gaining momentum from the expansion of technologies like the Internet of Things and 5G networks, catalyzing innovation and enabling extensive connectivity.
Recently, the Biden Administration launched the Public Wireless Supply Chain Innovation Fund, injecting $1.50 billion into the development of open and interoperable networks. This funding endeavors to lead the implementation of open and interoperable 5G radio access networks, thereby propelling technological progress within the United States.
Furthermore, Gartner anticipates global expenditure on communication services for the current year to reach $1.46 trillion, marking a 2.7% increase compared to the preceding year, while spending in the next year is expected to come in at $1.52 trillion, up 3.8% year-over-year.
That said, Technavio forecasts the global industrial communication market to grow at a 10.9% CAGR between 2022 and 2027. Additionally, Contrive Datum Insights projects the global networking service market to rise at a CAGR of 32.9%, reaching $64.91 billion by 2030.
Considering these conducive trends, let’s take a look at the fundamentals of the three best Technology – Communication/Networking stocks, starting with number 3…
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