May 2026
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Largest Networking Hardware Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Samsung, Cisco, Foxconn Industrial Internet, Arista Networks and Amphenol.
 | Samsung Electronics is a diversified electronics conglomerate that manufactures and sells a wide range of products including smartphones, televisions, home appliances, telecommunications network equipment, as well as electronic and device components such as semiconductors and flat panel displays. Samsung is the world's largest manufacturer of smartphones and televisions as well as memory semiconductor products. The Manufacturing and sale of mobile phones and semiconductors make up >70% of both the company’s revenue as well as its profit. | $177 | +379% | $1.2T | $1.1T | 4.7x | 16.4x | ||
 | Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software such as firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff—25,000 strong across 90 countries. Overall, Cisco employs 80,000 people and sells its products globally. | $97 | +53% | $381B | $396B | 7.0x | 17.7x | ||
 | Foxconn Industrial Internet Co Ltd is engaged in the design, research and development, manufacturing, and sales of various electronic equipment products. The company's main products include communications network equipment, cloud service equipment, precision tools, and industrial robots. | $9 | +238% | $185B | $183B | 1.4x | 23.5x | ||
| Arista Networks is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system, or EOS, that runs a single image across every single one of its devices. The firm operates as one reportable segment. It has steadily gained market share since its founding in 2004, with a focus on high-speed applications. Arista counts Microsoft and Meta Platforms as its largest customers and derives roughly three quarters of its sales from North America. | $142 | +64% | $179B | $166B | 18.5x | 42.3x | ||
| Amphenol is a global supplier of connectors, sensors, and interconnect systems. It holds the second-largest connector market share globally and sells into the automotive, broadband, commercial air, industrial, IT and data communications, military, mobile devices, and mobile networks end markets. Amphenol is diversified geographically, with operations in 40 countries. | $128 | +42% | $158B | $172B | 7.4x | 24.9x | ||
| Eoptolink Technology Inc Ltd is engaged in the research & development, production, and sales of optical modules. The company's main products include point-to-point optical modules; and passive optical network optical modules. | $81 | +533% | $81B | $79B | 21.8x | 48.1x | ||
| Ciena is a telecommunications equipment provider focused on optical transport technologies, with clients in a number of industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises worldwide. The company provides equipment, software, and services that support transport, switching, aggregation, service delivery, and data traffic management. | $548 | +585% | $78B | $78B | 16.3x | 200.3x | ||
 | Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment sells equipment and services to telecom carriers to power public wireless networks. Network infrastructure focuses on fixed-line networks, including switching and routing equipment, optical components, and devices used in fiber-to-the-premises networks. The cloud and network services segment develops software used to operate the core of carrier wireless networks and build private networks for enterprises. Nokia also has a sizable research and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products. | $13 | +147% | $72B | $68B | 2.9x | 25.9x | ||
| Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications. | $904 | +1150% | $70B | $70B | 42.8x | 276.3x | ||
 | Fujikura Ltd is a Japan-based company mainly engaged in the manufacturing and sales of telecommunication and other electronics equipment. The company operates through five segments. The Automotive division covers wiring harnesses and electrical components. The Electronics division provides printed wiring boards, electronic wires, connectors, and hard disk components. The Energy division includes power and communication cables, aluminum, and coated wires. The Information and Communication division offers optical fibers, cables, components, equipment, network solutions, and construction services. The Real Estate division engages in leasing. It generates the majority of its revenue from the Information and Communication Business Division segment. | $42 | -1% | $69B | $69B | 10.5x | 63.7x | ||
| Motorola Solutions is a leading provider of communications and analytics, primarily serving public safety departments as well as schools, hospitals, and businesses. The bulk of the firm's revenue comes from sales of land mobile radios and radio network infrastructure, but the firm also sells surveillance equipment, dispatch software, and other networking capabilities. Most of Motorola's revenue comes from government agencies, while roughly 25% comes from schools and private businesses. Motorola has customers in over 100 countries and in every state in the United States. | $384 | -8% | $64B | $72B | 6.2x | 20.1x | ||
| TE Connectivity is the largest electrical connector supplier in the world, supplying interconnect and sensor solutions to the transportation, industrial, and communications markets. With operations in 150 countries and over 500,000 stock-keeping units, TE has a broad portfolio that forms the electrical architecture of its end customers' cutting-edge innovations. | $206 | +29% | $60B | $65B | 3.8x | 15.7x | ||
| Ubiquiti Inc is a seller of equipment and provides the related software platforms through web stores. The group develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its solutions are: high-performance networking technology for enterprises, service providers, and consumers. target the enterprise and service provider markets through a community of service providers, distributors, value-added resellers, webstores, systems integrators, and corporate IT professionals, which it refers to as the Ubiquiti Community. It targets consumers through digital marketing, including through webstores, retail chains, and, to a lesser extent, the Ubiquiti Community. | $842 | +113% | $51B | $51B | 19.7x | 59.0x | ||
 | Prysmian SpA is an Italian manufacturer of electric power transmission and telecommunications cables and systems. Its business is organized in three segments--Projects, which focuses on the execution of underground and submarine cable projects; Energy Products, which provides power distribution, and industrial and network components; and Telecom, which makes cable systems and connectivity products. More than half of the firm's revenue is generated in the Europe, Middle East, and Africa regions, with the rest coming from North America, Latin America, and Asia-Pacific regions. | $169 | +158% | $48B | $53B | 2.3x | 17.9x | ||
 | Accton Technology Corp develops, manufactures and sells high-quality products for computer network systems and wireless land area network (LAN) hardware and software products and renders related technical consulting and engineering design services. The products and services offered by the company is Switch, Network Application, Metro Access Switch, Other and Wireless. | $76 | +224% | $42B | $41B | 5.2x | 36.8x | ||
| Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises. Its primary product lines are compute servers, storage arrays, and networking equipment; it also has a high-performance computing business. HPE's stated goal is to be a complete edge-to-cloud company. Its portfolio enables hybrid clouds and hyperconverged infrastructure. | $31 | +81% | $42B | $58B | 1.7x | 13.3x | ||
 | Ericsson provides telecom equipment and services that are primarily used to build and operate mobile networks. The firm divides its business into three segments: networks, cloud and software services, and enterprise. Wireless carriers have traditionally been the firm’s primary customers, but it is pushing to cater more to enterprises as well, as both try to take advantage of 5G capabilities and utilize “as-a-service” communications platforms. The company also licenses its patents to handset manufacturers. | $12 | +39% | $39B | $37B | 1.4x | 6.8x | ||
| Suzhou TFC Optical Communications Co Ltd is engaged in High-end passive component total solutions and high-speed optical component packaging OEM solutions. | $48 | +466% | $37B | $37B | 48.6x | 99.6x | ||
| Satellite television provides the bulk of EchoStar’s revenue. The firm serves about 5 million US satellite customers, about 10% of the traditional television market. It also serves 2 million customers under the Sling brand. EchoStar has also amassed an extensive portfolio of spectrum licenses and is building a nationwide wireless network. It acquired Sprint's prepaid business, serving approximately 7 million customers, primarily under the Boost brand. The firm has agreed to sell a portion of its wireless licenses to AT&T and SpaceX, and will rely heavily on the AT&T network to serve customers. EchoStar’s legacy businesses provide satellite telecom services and equipment to businesses and consumers, including about 800,000 internet customers. | $127 | +617% | $37B | $64B | 4.3x | 42.8x | ||
| Yangtze Optical Fibre and Cable Joint Stock Ltd Co is engaged in the Chinese communication equipment industry. It manufactures and sells optical fiber preforms, optical fibers with various standard specifications that are widely used in the telecommunications industry. It operates its business through three operating segments, optical fibers and optical fiber preforms; and Optical components and modules, optical fiber cables. The manufacture and sale of optical fiber cables provide the company with majority of its revenue. Its other products comprise of trunk cables, patch cords, plug-and-play modules, optical distribution frames, pigtails, adapter panels, splitters, and connecting cabinets. | $45 | +1261% | $37B | $37B | 17.7x | 106.0x | ||
| Hengtong Optic-Electric Co Ltd provides fiber optic communication products in China and internationally. It offers optical rods, optical fiber, optical cable, optical devices, an optical network, ocean optical network products, data communication products, power transmission products, ocean engineering, quantum security communications, rail transit, and smart city products. | $11 | +422% | $28B | $29B | 2.9x | 38.8x | ||
 | NVent is a leading global provider of electrical connection and protection solutions that touch a broad range of end markets, including infrastructure, industrial, commercial, and residential. NVent designs, manufactures, markets, installs, and services a portfolio of electrical enclosures and electrical fastening solutions. North America accounts for the majority of sales. | $170 | +158% | $27B | $29B | 7.4x | 34.8x | ||
| ZTE Corp is a provider of integrated telecommunications and IT solutions with a full range of end-to-end ICT products and solutions integrating design, development, production, sales, and services with a special focus on carriers’ networks, government and corporate business, and consumer business. It operates in three segments Carriers’ network, Consumer Business, and Government and Corporate Business. It generates a majority of its revenue from equipment supporting carriers' networks. It has a presence in the PRC, Asia, Africa, Europe, and the Americas. It generates the majority of its revenue from the PRC region. | $5 | +25% | $26B | $29B | 1.4x | 13.1x | ||
| AST SpaceMobile Inc is a satellite designer and manufacturer. The company is building a cellular broadband network in space to operate directly with standard, unmodified mobile devices, and off-the-shelf mobile phones based on extensive IP and patent portfolio. It has focused on eliminating the connectivity gaps faced by mobile subscribers. The Company's spaceMobile Service is being designed to provide cost-effective, high-speed Cellular Broadband services to end-users who are out of terrestrial cellular coverage using existing mobile devices. | $75 | +225% | $22B | $22B | 314.7x | (118.0x) | ||
| Jiangsu Zhongtian Technology Co Ltd is a China-based company engaged in the manufacturing and distribution of fiber-optic communication and power-transmission products. Its products include power cables, fittings, insulators, arresters, conductors, aluminum-clad steel wires, transformers, and power switch gears; optical fibers, optical fiber cables, coaxial cables, and antennas; and submarine composite and FO cables, submarine cable accessories, and ROV cables. The company also offers marine and offshore cables, lithium-ion batteries, solar cell backsheets, photovoltaic technology products, alloy materials, optical fiber, and optical cable machines. | $6 | +211% | $21B | $19B | 2.4x | 26.2x | ||
| Huagong Tech Co Ltd produces, sells, and provides technical services for products centered on laser technology, computer software and system integration technology, and PTC technology. The company's main products include laser processing equipment and intelligent manufacturing production lines, laser holographic film series products, optoelectronic device series products, sensitive components, and others. | $20 | +228% | $20B | $20B | 9.6x | 67.3x | ||
| Suzhou Centec Communications Co Ltd is engaged in research & development, design and sales of Ethernet switching chips and supporting products. | $45 | +424% | $19B | $18B | 108.7x | (1079.1x) | ||
| Bizlink Holding Inc is engaged in designing, manufacturing, and selling cable assemblies, connectors, power cords, fiber optical passive components, and computer-peripheral products. The operating segments of the company are the Computing and Transportation segment, Industrial Application segment, Home Appliance segment, and others. The company generates the majority of its revenue from the Computing and Transportation segment. Its geographical segments are the United States, China, Germany, Malaysia, Taiwan, Italy, and Others. | $88 | +337% | $17B | $17B | 7.5x | 35.4x | ||
| IEIT Systems Co Ltd is a provider of IT infrastructure products, solutions, and services. Its business focuses on three fields: servers, storage, and networks. The company is committed to the innovation of digital technology along with the application and integration of digital worlds with the physical world. It is helping enterprises embark on a path of sustainable development by driving intelligent digital transformation. | $11 | +58% | $17B | $18B | 0.7x | 30.6x | ||
| Viavi Solutions Inc. is an international provider of network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military and avionics customers. The company also offers high-performance thin-film optical coatings, providing light management solutions to anti-counterfeiting, 3D sensing, electronics, automotive, defense, and instrumentation markets. Its operating segments include Network Enablement, Service Enablement, and Optical Security and Performance Products. Geographically, it derives a majority of its revenue from the United States. Additionally, it manufactures and sells optical filters for 3D sensing products that allow facial recognition security authentication for mobile devices. | $51 | +462% | $12B | $13B | 11.6x | 65.5x | ||
| Applied Optoelectronics Inc is a provider of fiber-optic networking products, for four networking end-markets; internet data center, CATV, telecom, and FTTH. The Company designs and manufactures a wide range of optical communications products at varying levels of integration, from components, subassemblies, and modules to complete turn-key equipment. Through direct sales personnel, and manufacturing teams in the United States, China, and Taiwan, the company coordinates with customers to determine product design, qualifications, and performance. The Company has manufacturing and research and development facilities located in the U.S., Taiwan, and China. | $149 | +866% | $12B | $12B | 25.9x | (2290.1x) | ||
| Ruijie Networks Co Ltd is engaged in the research and development, design and sales of network equipment, network security products and cloud desktop solutions. | $15 | +111% | $12B | $12B | 5.6x | 72.8x | ||
| Fiberhome Telecommunication Technologies Co Ltd is a China-based company engaged in the manufacture and sales of communication equipment. Its main products include communication system equipment, optical fibers, cables and data networking products, such as the optical networking products, Internet protocol (IP) data products, broadband access products, optical fibers and cable products, wireless communication products and power supplies, as well as the optoelectronic devices. The company mainly distributes its products in domestic and overseas markets. | $8 | +187% | $11B | $12B | 3.4x | 45.2x | ||
| CICT Mobile Communication Technology Co Ltd is engaged in the development, application and services of mobile communication technologies. The company’s products include Antenna, RAN, CPE. Its services include Wireless Network Service, Digitization & Intelligent Service, Network Construction, Network Optimization, Digital Talent Empowerment, and Network O&M. | $3 | +290% | $11B | $11B | 11.6x | (8307.7x) | ||
| Zebra Technologies is a leading provider of automatic identification and data capture technology to enterprises. Its solutions include barcode printers and scanners, mobile computers, and workflow optimization software. The firm primarily serves the retail, transportation logistics, manufacturing, and healthcare markets, designing custom solutions to improve efficiency at its customers. | $226 | -22% | $11B | $14B | 2.5x | 11.5x | ||
| Shanghai Xizhi Technology Co Ltd, along with its subsidiaries, is principally engaged in the sales of optical interconnect and optical computing hardware, solutions and related services dedicated to enhancing computing efficiency, as well as research and development activities in relation to optical interconnect and optical computing business. The company's revenue is derived from two primary sources: (i) optical interconnect business and (ii) optical computing business. The majority of reveneu is derived from the Optical interconnect business, which includes the sales of its Scale-up and Scale-out products. | $110 | -- | $10B | $10B | 640.8x | (54.5x) | ||
| Shenzhen Transsion Holdings Co Ltd is engaged in the design, research & development, production, sales, and brand operation of smart terminals with mobile phones as the core. The company produces mobile phones under the TECNO, itel, and Infinix brands, offering both feature phones and smartphones. | $8 | -20% | $10B | $7B | 0.8x | 13.8x | ||
| Viasat Inc provides bandwidth technologies and services in three segments: communication services and defense and advanced technologies. The communication services segment provides a wide range of broadband and narrowband communications solutions across government and commercial mobility markets, as well as for residential and enterprise fixed broadband customers: and the defense and advanced technologies segment develops and offers a diverse array of resilient, vertically integrated solutions to government and commercial customers, leveraging core technical competencies in encryption, cyber security, tactical gateways, modems and waveforms. A large majority of the firm's revenue is generated from communication services segment. | $70 | +702% | $10B | $15B | 3.3x | 9.7x | ||
| Advanced Fiber Resources (Zhuhai) Ltd is a provider of passive optical components for telecommunication, fiber laser, and fiber sensor applications. The company specializes in fiber optic components and polarization maintaining components. The company designs and manufactures both standard and custom components, and also offers contract manufacturing solutions to its customers. The company's products category comprises components for industrial laser, bio-medical equipment, test equipment and others, components for optical network, and components for fiber sensing. It sells the products in China, and also exports it to the various other countries. | $38 | +562% | $9B | $9B | 43.6x | 213.1x | ||
| CIG Shanghai Co Ltd is an original development manufacturer of the carrier and enterprise-grade customer premise equipment. Its product offerings include wireless network equipment, smart home gateway products, telecom broadband terminals, and other products. | $26 | +388% | $9B | $9B | 12.5x | 111.6x | ||
| Quantumctek Co Ltd is engaged in production, sales and technical services of quantum communication products. The company's products include Quantum-secure Communication Network Core Equipment; Quantum-secure Application Products; Operating System Software; Core Components; and Teaching Systems & Scientific Instruments. Its solutions, products, and services are used in government, financial and energy industry, ensuring long term quantum safety to numerous users. | $87 | +131% | $9B | $9B | 187.7x | 988.7x | ||
 | Nexans is a French company that manufactures and distributes cable products. The company operates through three segments. The Building and Territories segment provides reliable cabling systems and smart energy solutions enabling buildings and territories to be more efficient, sustainable, and people friendly. The generation and Transmission segment partners with its customers from the start of the cycle right through to the end (systems management) to help them find the cabling solution that is the best suited to their needs in terms of efficiency and reliability. Industry and Solutions: this segment provides support to OEMs and industrial infrastructure project managers in personalizing their cabling. Geographically France, Germany, and Norway are the three markets for the company. | $189 | +62% | $8B | $9B | 0.9x | 11.9x | ||
 | NKT AS is a Denmark-based provider of cable technology. The company, along with its subsidiaries, operates in the following segments; Solutions, Applications, and Service & Accessories. Maximum revenue is generated from the Solutions segment which caters to the high-voltage power cable market and is involved in the manufacturing and installation of high-voltage cables and products for onshore power transmission and distribution, power-from-shore, cable projects, offshore wind connections, and other projects. This segment also owns and operates a cable-laying vessel, NKT Victoria. Geographically, the company generates maximum revenue from Germany followed by the United States of America, the United Kingdom, Poland, Norway, Denmark, and other regions. | $155 | +78% | $8B | $7B | 1.7x | 13.8x | ||
| Sangfor Technologies Inc is a provider of security and cloud computing solutions and is committed to making users IT easier, safer, and more valuable. | $18 | +40% | $8B | $8B | 6.5x | 77.9x | ||
| InterDigital Inc is a research and development company focused on wireless, Video, Artificial Intelligence, and related Technologies. It designs and develops technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. The majority of revenue is generated from fixed-fee patent license agreements, with a smaller portion coming from variable royalty agreements. Geographically, it operates in the United States, China, South Korea, Japan, Taiwan, and Europe, with the majority is from China. | $280 | +29% | $7B | $7B | 7.8x | 11.1x | ||
| Optowide Technologies Co Ltd is engaged in the production and sales of various types of precision optical components and optical fiber devices. The products are mainly used in optical communications, fiber lasers and other fields. Other application fields include quantum information scientific research, biomedicine, consumer optics and others. | $55 | +871% | $7B | $7B | 82.7x | 295.8x | ||
| Yealink Network Technology Corp Ltd is an Internet-based unified communications terminal solution provider that integrates R&D, sales, and services, and provides intelligent and efficient enterprise communications terminal solutions to global corporate customers through outsourcing. | $6 | +12% | $7B | $6B | 6.8x | 14.1x | ||
| Gigabyte Technology Co Ltd is a Taiwan-based manufacturer and distributor of computer hardware products. Its products include motherboards for third-party platforms and servers, graphics cards, notebooks, desktop computers, ultrabooks, tablets, mobile phones, server racks, networking equipment, optical drives, computer monitors, keyboards, cooling components, computer cases, and power supplies. Geographically, the company generates a majority of its revenue from Europe, followed by the USA and Canada, Taiwan, China, Singapore and other regions. The company generates the majority of its revenue from the sale of Networking communication products. | $10 | +17% | $7B | $7B | 0.6x | 11.3x | ||
| Addsino Co Ltd is a China-based company engages in the development, manufacture, and distribution of command and control communication products. Its main products include military communication products, experimental radio frequency simulation systems, experimental and field active target simulation systems, radar simulation systems, tactical training simulation systems and electromagnetic protection products, among others. | $4 | +279% | $6B | $6B | 17.4x | (40.0x) | ||
 | Huber& Suhner AG is a Switzerland-based company that designs and creates connections for data and power transmission. It specializes in electrical and optical connectivity components and system solutions that deliver high performance, quality, reliability, and a long service life even under the toughest of conditions. The company has three reportable segments Industry, Communication, and Transportation. It generates the majority of revenue from the Industry segment. Its product portfolio includes radio frequency and microwave products; fiber-optic products involving ultra-high data transmission speeds; low-frequency products such as databus, signal, and power cables; and passive components such as cables, connectors, assemblies, and antennas. | $340 | +235% | $6B | $6B | 5.4x | 36.1x | ||
| Guangzhou Haige Communications Group Inc Co is engaged in the business of Wireless communications, Beidou navigation, aerospace, software, and information services. | $3 | +27% | $6B | $7B | 10.2x | (73.8x) | ||
| Far East Smarter Energy Co Ltd operates as a wire and cable manufacturer in China. The company is mainly engaged in system development, design, manufacturing, marketing and service of four major types of cable products, such as overhead wires, power cables, wire and cable for electrical equipment, and special cables. Its products are widely used in smart power, smart transportation, intelligent energy intelligent construction and other fields. | $3 | +280% | $6B | $7B | 1.6x | 53.4x | ||
| Time Interconnect Technology Ltd is an investment holding company. The company operates in the manufacture and sales of a wide variety of copper, digital cable products, & optical fiber cable assemblies. The firm is organized into there operating divisions Cable assembly, Digital cables, and Server. The company generates revenue from the Server segment which includes manufacturing and trading of server products. Geographically, the company derives a majority of its revenue from China and also has a presence in the Hong Kong, Mexico, Mexico and Other Countries. The company serves Telecommunication and Data Communication; Healthcare and Transportation and Industrial markets. | $3 | +338% | $6B | $6B | 4.0x | 41.3x | ||
 | AAC Technologies is one of the world’s largest manufacturers of miniature acoustic components, such as speakers and receivers, primarily for smartphones. Founded in 1993, the company has since expanded into the production of other handset components, such as electromagnetic drives (haptics), precision mechanical, lenses and camera modules, sensors, and MEMS microphones. AAC is headquartered in Shenzhen, China, and runs factories in China, Vietnam, Czechia, and Malaysia. It employed 44,181 people as at June 30, 2025. | $5 | +7% | $6B | $6B | 1.3x | 6.4x | ||
| Dolby Laboratories Inc. develops technologies that enhance audio and video capture, transmission, and playback, enabling high-quality experiences across movies, TV, music, sports, and more. The company designs and manufactures audio, imaging, accessibility, and related hardware and software mainly for cinema, including digital cinema servers and media encryption and packaging tools. It generates the majority of its revenue by licensing its technology, brand, and patents to device manufacturers and by selling cinema hardware and services. It operates as a single reportable segment, with revenue derived mainly from licensing and, to a lesser extent, from premium cinema technologies, across the United States and international markets. | $58 | -22% | $6B | $5B | 3.7x | 13.1x | ||
| Orbbec Inc is engaged in the design, research and development, production, and sales of 3D visual perception products. It provides high-performance 3D vision sensors and robotics and AI vision solutions to customers in industries such as robotics, 3D scanning, and biometrics, as well as developers, helping emerging industries unlock value and promote the intelligent upgrade of traditional industries. Its product portfolio includes monocular structured light cameras, binocular structured light cameras, LiDAR consumer devices, smart cameras, and others. | $13 | +72% | $5B | $5B | 36.7x | 210.7x | ||
| Glarun Technology Co Ltd is involved in fields associated with electronic information technology from high starting points and focuses on the growth and development in aspects of traffic electronics, supply chain integration service, microwave and communication, software and information service, energy electronics and other relevant industries. Its business fields include Rail transit; Air traffic; Intelligent transportation and Maritime traffic. | $4 | +9% | $5B | $5B | 9.8x | 41.1x | ||
| InnoDisk Corp is a provider of industrial embedded flash and DRAM(dynamic random-access memory) storage products and technologies. The company is engaged in the research, development, manufacturing and sales of various types of industrial embedded storage devices. It is engaged in the business of manufacturing computer peripheral equipment. The organization's solutions include Flash Storage, DRAM Modules, Embedded Peripherals, iService, and SmartFilter. The company's geographical segments include Taiwan, Aisa, the Americas, Europe and others. | $51 | +605% | $5B | $5B | 10.8x | 57.3x | ||
 | Tata Communications Ltd is the primary provider of international and national voice and data transmission long-distance services, internet dial-up and broadband services and other value-added services. The company’s reportable segments are Voice Solutions (VS), Data and Managed Services (DMS) and Real Estate (RE). It generates maximum revenue from Data and Managed Services (DMS) segment. | $17 | -7% | $5B | $6B | 2.3x | 11.2x | ||
| Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications. Its platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs. Geographically, the company has a business presence in the Americas, Asia Pacific, Europe, Middle East and Africa, of which key revenue is derived from the operations in the Asia Pacific region. | IoT+2 | $153 | +34% | $5B | $5B | 13.3x | 68.9x | |
| Hirose Electric Co Ltd is engaged in the production and sale of connectors and related products. The company's operations are organized into two reportable segments: Multipole connectors and Coaxial connectors. Multipole connectors include circular, rectangular, ribbon cable, printed circuit board, and flexible printed circuit connectors, while Coaxial connectors are high-performance connectors for high-frequency and optical signal transmission. It generates the majority of its revenue from the Multipole connector segment. | $142 | +33% | $5B | $4B | 2.9x | 8.9x | ||
| Ondas Inc designs, develops, manufactures, sells, and supports FullMAX Software Defined Radio (SDR) technology in the United States, Israel, and India. The company operates in two business segments namely Ondas Networks and Ondas Autonomous Systems. The company generates maximum revenue from Ondas Autonomous Systems through the sales of the Optimus system and separately priced support, maintenance, and ancillary services related to the sale of the Optimus system. | $9 | +643% | $4B | $4B | 76.6x | (121.9x) | ||
| Wingtech Technology Co Ltd is a China-based semiconductor and product integration company that integrates R&D, design, and production manufacturing. The company’s operations are organized into three segments. The Product Integration Business Segment focuses on designing and producing mobile internet devices, with smartphones being the core product line. The Semiconductor Business Segment is dedicated to the innovation, development, and fabrication of semiconductor components. The Other Business Segment includes various supplementary operations that support the company's overall activities. | $4 | -28% | $4B | $5B | 1.1x | (5.6x) | ||
| Belden Inc is a supplier of complete connection solutions. It has two segments, Smart Infrastructure Solutions and Automation Solutions. Smart Infrastructure Solutions provides network infrastructure and broadband solutions, serving markets such as data centers, government, healthcare, and broadband and wireless service providers, with products including copper and fiber cable and connectivity solutions. Automation Solutions provides digitization and automation solutions that enable IT OT convergence and support acquisition, transmission, orchestration, and management, serving markets including Warehousing and Logistics, Energy, Transportation, and Discrete Manufacturing. The company operates in the Americas, EMEA, and APAC, with maximum revenue coming from the Americas. | $112 | +6% | $4B | $5B | 2.0x | 12.3x | ||
| Jushri Technologies Inc is a manufacturer of communication and electronic equipments. | $7 | +114% | $4B | $4B | 57.0x | (460.3x) | ||
| Eutelsat Communications is a French commercial satellite provider with coverage spanning the European continent, the Middle East, Africa, India, and the Americas. It operates a fleet of over 36 satellites serving broadcasters, telecommunications operators, Internet service providers, and government agencies. These satellites are used for video broadcasting, news gathering, broadband services, and data connectivity solutions. The company generates revenue in Europe, the Americas, the Middle East, North Africa, and Asia. | $3 | +13% | $4B | $5B | 3.7x | 7.7x | ||
| WNC Corp is engaged in designing, development, and manufacturing of cutting-edge communications products. The company provides comprehensive technical support in RF antenna design, software design, hardware design, mechanical design, system integration, user interface development, and product testing & certification. | $8 | +104% | $4B | $4B | 1.0x | 15.4x | ||
 | BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communications for enterprises. The firm provides endpoint management and other secure communications software to enterprises, specializing in regulated industries like government and financial institutions. BlackBerry also has a sizable embedded software business primarily serving the automotive market, with some exposure to the industrial market. | $6 | +64% | $4B | $4B | 6.6x | 44.1x | ||
| China Zhenhua (Group) Science & Technology Co Ltd operates in the electronic components business. Its main business involves basic components, hybrid integrated circuits, electronic functional materials and other categories. Its main products include resistors, capacitors, inductors, fuses, piezoelectric ceramic components, LTCC filters, duplexers, dielectric resonators, power dividers, motor drivers, power managers, diodes, transistors, IGBT devices, SIC devices, transformers, vacuum interrupters, relays, contactors, switches, circuit breakers, connectors, lithium-ion batteries, LTCC dielectric materials, MLCC dielectric materials, ceramic ferrite materials, piezoelectric ceramic materials, electronic pastes, etc. | $7 | -1% | $4B | $3B | 3.5x | 13.0x | ||
| Quectel Wireless Solutions Co Ltd is engaged in the design, development of cellular communication modules. It primarily supplies 5G, LTE, LTE-A, LPWA, Smart Module, C-V2X, GSM/GPRS and GNSS modules. | $11 | +8% | $3B | $3B | 0.9x | 17.7x | ||
| Jiangxi Lianchuang Optoelectronic Science And Technology Co Ltd is engaged in the production and sales of optoelectronic devices and other new electronic components, information transmission cables, communication terminals and special communication switching equipment. | $7 | -20% | $3B | $3B | 6.0x | 28.3x | ||
| Extreme Networks Inc provides AI-powered cloud networking, focused on delivering simple and secure solutions that help businesses address challenges and enable connections among devices, applications, and users. The group designs, develops, and manufactures wired, wireless, and software-defined wide area network (SD-WAN) infrastructure equipment. It has one reportable segment, the development, marketing, and sale of network infrastructure equipment and related software. The Company operates in three geographical areas: Americas, EMEA, and APAC. | $24 | +53% | $3B | $3B | 2.8x | 17.9x | ||
| Fibocom Wireless Inc is a Chinese wireless communication module and solutions provider. It is focused on the development of the Internet of Things (IoT) and consumer electronics. The company brand products cover LTE, NB-IoT/eMTC, HSPA, GSM/GPRS wireless communication modules and solutions. Through IoT, the company offers solutions such as wireless payment, car networking, security monitoring, mobile internet, and smart grid. | $3 | -9% | $3B | $3B | 2.8x | 35.8x | ||
| ITI Ltd is an Indian manufacturer and service provider of telecommunication equipment and network infrastructure using IP/MPLS, optical fiber, microwave, and satellite technologies. Its products include GPON devices, Digital Mobile Radio systems, smart energy meters, defence encryption products, Wi-Fi equipment, smart cards, solar modules, IoT devices, and other communication hardware. The company also supplies traded communication and IT equipment. Its services cover turnkey project execution, installation, maintenance, data center hosting, electronic manufacturing, PCB fabrication, environmental testing, and 3D printing. It focuses on innovation and serves the Indian telecom, smart cities, and defence sectors. | $3 | -15% | $3B | $3B | 7.8x | 703.0x | ||
| HMS Networks AB supplies proprietary, patented technology for intelligent industrial communication. It develops and manufactures solutions for connecting industrial products to networks and gateways, thus enabling interconnection between various networks. The group sells products in various countries, including Germany. It generates the majority of its revenue from the USA, Japan, France, China, Sweden, Italy, and other countries. The brands of the company are Anybus, Red Lion, N-Tron, Ewon, Intesis, Ixxat, Owasys, and PEAK-System. | IoT+2 | $60 | +28% | $3B | $3B | 8.0x | 27.7x | |
| Foci Fiber Optic Communications Inc designs, manufactures, and markets high-performance fiber optic components and integrated modules including fiber optic coupler, PLC splitter, thin film coarse WDM, dense WDM, multi-fiber cable assembly module, etc. that increase the bandwidth and flexibility of today’s communication networks. Its products include interconnector series, isolators, couplers, splitters, attenuators, WDM devices, and filter devices, among others. Geographically, it generates the majority of its revenue from America. | $26 | +253% | $3B | $3B | 48.0x | 590.5x | ||
| Seojin System Co Ltd manufactures communication equipment parts, mobile phone parts (metal case, etc.). | $45 | +194% | $3B | $4B | 5.0x | 50.8x | ||
| Eastern Communications Co Ltd is a China-based communications services company. It provides solutions for industrial applications and listed companies in the fields of communication and financial technology, communications business, an intelligent manufacturing business and intelligent services and software and other fields. The company's product portfolio includes private network communications and information security products and solutions; financial electronic equipment and operations services; communications and information technology integration services and EMS manufacturing operations. The company's products and solutions are used in China and other international countries. | $2 | +78% | $3B | $3B | 6.9x | 38.8x | ||
| Cetc Potevio Science & Technology Co Ltd formerly Gci Science & Technology Co Ltd is a China-based company engaged in the provision of telecommunication network construction technical services and products. It mainly provides public network integrated solutions and special network integrated solutions. The company's network products include network coverage products, network access equipment and communication series printed circuit boards. | $4 | +23% | $3B | $3B | 3.6x | 94.3x | ||
| Hytera Communications Corp Ltd designs & manufactures professional wireless communications equipment, offering customized communication solutions to government, utility, enterprises & businesses to help achieve higher organizational efficiency. | $1 | -8% | $3B | $3B | 3.2x | 76.5x | ||
| Browave Corp is mainly engaged in the design, production, and sales of optical fiber communication components. Its products include Modules, Components, MPO/MTP Cable, and Optical parts. | $32 | +535% | $3B | $3B | 35.6x | 120.9x | ||
| China Marine Information Electronics Co Ltd is a China-based company engaged in the manufacturing of intelligent optical network switching platform equipment and video surveillance systems. | $4 | -15% | $3B | $2B | 4.5x | 49.6x | ||
| Fujian Star-Net Communication Co Ltd is a China-based company operates in the terminals and video application systems. It serves in the fields of network communication, switches, cloud computing, payment terminals, desktop clouds, wireless and broadband access, and video information applications. The company serves approximately 100 countries worldwide. Its product portfolio includes smart network, smart cloud, and smart finance. | $4 | +53% | $2B | $2B | 0.9x | 12.3x | ||
| Digi International Inc is a Minnesota corporation that provides business and mission-critical Internet of Things (IoT) connectivity products and services. It operates through two segments: IoT Products & Services, which supports OEMs, enterprise, and government customers in deploying secure IoT connectivity solutions, and IoT Solutions, consisting of SmartSense and its Managed Network-as-a-Service (MNaaS) business offering wireless temperature and condition-based monitoring, employee task management, label printing, and other services. The company generates the majority of its revenue from the IoT Products & Services segment and mainly from the United States, with a presence in Europe, the Middle East and Africa, and the Rest of the world. | IoT+1 | $66 | +103% | $2B | $3B | 6.0x | 24.0x | |
| HFCL Ltd is an Indian manufacturer and exporter of optical fiber cables and broadband equipment for the telecommunication industry. Firm business segments include Telecom Products and Turnkey Contracts Services. The Telecom Product segment produces optical fiber cable, optical fiber, and telecom equipment. The Turnkey Contracts and services segment is engaged in delivering telecom infrastructure and communication network systems for Telecom Operators, Defence Services, Railways, Safe and Smart Cities, etc. The firm's products and solutions include Fiber optics, Telecommunication, Defence, and Passive Networking Components. It generates substantial revenue from the sale of turnkey projects and related activities. | $1 | +58% | $2B | $2B | 5.5x | 51.0x | ||
| Skyworth Digital Co Ltd is engaged in providing digital TV products and services. It offers Digital TV set-top boxes, digital televisions, smart networking devices, IPTV solutions, network access devices, car electronics, and car networking equipment. Geographically, the business presence of the group can be seen in India, Africa, South East Asia as well as Europe and the Americas. | $2 | +17% | $2B | $2B | 1.7x | 44.1x | ||
| FS.COM Ltd operates as a DTC networking solution provider, principally engaged in the sales of optical communication products. It operates through its online platform, FS.com. The company's offerings include networking equipment, networking operating systems, and cloud-based network management platforms used in applications such as high-performance computing, data centers, enterprise networks, and telecommunications, supporting businesses' digital infrastructure needs. The majority of revenue is derived from the provision of its General networking solutions and High-performance networking solutions. Geographically, the company generates the maximum revenue from the United States. | $5 | -- | $2B | $2B | 4.7x | 16.5x | ||
 | TKH Group NV is a provider of vertical-specific communications and connectivity solutions. Its operations are organized into three segments which include Smart Vision systems, Smart Connectivity systems, and Smart Manufacturing systems. Geographical segments of the organization are divided into various regions including the Netherlands, Europe, Asia, North America, and other regions. | $54 | +24% | $2B | $3B | 1.4x | 9.2x | ||
| Sichuan Jiuzhou Electric Co Ltd is a high-tech enterprise group featuring military-civil integration development. The company provides equipment and solutions in areas of ATC, Beidou satellite navigation and positioning service, digital TV system, IOT, wire and cable, e-commerce and software, LED lighting and display. | $2 | -13% | $2B | $2B | 3.6x | 42.8x | ||
| VTech Holdings Ltd is engaged in the designing, manufacturing, and distribution of consumer electronic products. It also provides contract manufacturing services. The company's diverse collection of products includes Telephone Products, Business Phones, Electronic Learning Toys, Baby Monitors, and Hospitality Products. In addition, it offers turnkey services to customers in several product categories. The company operates through four reportable segments: North America, including the United States and Canada, Europe, Asia Pacific, and Others, which covers sales of electronic products to the rest of the world. It generates maximum revenue from Europe. | $8 | +21% | $2B | $2B | 0.9x | 8.3x | ||
| Sterlite Technologies Ltd is an Indian-based company engaged in the business of Connectivity and Network Solutions. Its products and solutions mainly include integrated optical fiber, copper telecom cables, structured data cables, access equipment, fiber connectivity and system integration solution offerings for telecom networks, OSS/ BSS solutions, billing and bandwidth management solutions for organizations, and others. Its segments include Optical networking business (ONB), Global service business (GSB) and Digital and technology solutions (Digital). The company offers its services within India and in the International market. It earns majority of the revenue from Optical networking business segment. | $4 | +412% | $2B | $2B | 4.2x | 31.2x | ||
| Tianjin 712 Communication & Broadcasting Co Ltd is a Chinese-based company that operates in the communication equipment business. It is primarily involved in the research, development, production, and precision electronic product processing of civil communication equipment, trunking mobile communication systems, maritime communication products, digital walkie-talkies and train wireless dispatching communication system equipment. Geographically, the operations are carried out through China. | $2 | -17% | $2B | $2B | 6.4x | (38.4x) | ||
| Chengdu CORPRO Technology Co Ltd is engaged in the manufacturing and distribution of communication and related equipment. The main products include key components of Beidou satellite navigation application, high-performance integrated circuit, Beidou satellite navigation terminal and Beidou satellite navigation and positioning application system. | $3 | +23% | $2B | $2B | 13.2x | 85.9x | ||
| Datang Telecom Technology Co Ltd is a China-based company engaged in the communication equipment manufacturing industry. It is involved in the manufacturing of electronic and communication equipment, mobile phone, instrument and cultural and official goods, production and sales of security and protection products and design construction of security and protection work. It also provides system integration and network engineering services. The company operates its businesses primarily in domestic market. | $1 | +5% | $2B | $2B | 12.1x | 93.4x | ||
| Preformed Line Products Co is a designer and manufacturer of products and systems for constructing and maintaining overhead and underground networks for energy, telecommunication, cable operators, data communication, and other industries. In addition, it provides solar hardware systems and mounting hardware for a variety of solar power applications. Its products consist of Energy Products, Communications Products, and Special Industries Products. The company's majority of the revenue is derived from the sale of products in The Americas with operations also in PLP-USA, Europe, the Middle East and Africa, and Asia-Pacific. The revenue gets driven by Energy products which comprise protecting transmission conductors, spacers, spacer-dampers, and Stockbridge dampers. | $346 | +143% | $2B | $2B | 2.5x | 21.4x | ||
| Genew Technologies Co Ltd is engaged in design and sales of communication system equipment, and provide customers with professional and complete customized communication technology solutions. The company's product categories include Core Network; Copper Access Network; Unified Communication; Optical Transmission Network; Optical Access Network; and Ethernet Switch. | $8 | +95% | $2B | $2B | 12.1x | 928.2x | ||
| Gosuncn Technology Group Co Ltd is engaged in the research and development and application of core technologies, products and solutions based on the Internet of Things and artificial intelligence and provides smart city Internet of Things products and services. | IoT+2 | $1 | +18% | $1B | $1B | 5.0x | 213.9x | |
| EmbedWay Technologies (Shanghai) Corp is a supplier of DPI front-end applications and standard platforms. It provides products and solutions to various applications, such as telecommunications value-added services, internet safety, network and signaling monitoring, and communication equipment producing, among others. The products of the company are blade platform, standalone device, acceleration card, white box switches, converged computing, media processing, ATCA blade, and others. | $5 | +29% | $1B | $1B | 9.4x | 129.2x | ||
| Gilat Satellite Networks Ltd is a provider of satellite-based broadband communications. The company designs and manufactures ground-based satellite communications equipment and provides comprehensive solutions and end-to-end services. Its portfolio includes a cloud-based satellite network platform, very small aperture terminals (VSATs), amplifiers, high-speed modems, on-the-move antennas and high-power solid-state power amplifiers (SSPAs), block-up converters (BUCs), and Transceivers. The company's solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense, and public safety. | $19 | +248% | $1B | $1B | 2.8x | 24.2x | ||
 | Adtran Networks SE develops, manufactures, and sells optical and Ethernet-based networking solutions to telecommunications carriers and enterprises to deliver data, storage, voice, and video services. Company segment includes: Network Solutions; and Services and Support,These systems are used by telecommunications service providers, private companies, universities, and government agencies. Some of its product categories are Open optical transport, Packet edge and aggregation, Disaggregated networking, Network virtualization, Network infrastructure assurance, and Automated network management. ADVA's geographical segments are Germany; the Rest of Europe, the Middle East and Africa; the Americas; and Asia-Pacific. | $27 | +14% | $1B | $1B | 2.8x | 29.3x | ||
| Median | $19 | +68% | $6B | $6B | 5.4x | 28.8x |
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