ECI Sees Continued Double-digit Growth in 2018 With 5G Driving More Opportunities in 2019 and Beyond
Key technology advances and customer wins lead to another banner year of revenue growth
PETACH TIKVA, Israel, Feb. 13, 2019 /PRNewswire/ -- ECI®, a global provider of ELASTIC Network® solutions for service providers, critical infrastructures and data center operators, today announced another strong year of momentum in 2018 with double-digit percent annual revenue growth, yet again outperforming average industry growth rates. Overall growth is expected to remain strong in 2019 and beyond due to a growing customer base as well as initial 5G network rollouts and trials.
While 5G will drive significant demand for bandwidth and increase in end-to-end connections, realizing its full potential requires an updated network infrastructure, capable of supporting more sophisticated services. As 5G network infrastructure revenue is predicted to reach $26 billion by 2022, there is clear market opportunity for solutions that seamlessly bridge the gap between today's networks and those of tomorrow. During 2018, the company made extensive progress with its 5G portfolio, including live demonstrations of technology cornerstones such as segment routing (SR) and FlexE (Flex Ethernet) – required for full 5G networks. Also, in September, the company announced its partnership with Ericsson, with the incorporation of the ECI solution into Ericsson's 5G transport offering.
"ECI's revenue growth continues to outpace the industry as we increase our market share, and sales continue to be buoyed by the volume of new business we won over the last three years. By the end of 2018, we counted over 90 new wins," noted Darryl Edwards, CEO and President of ECI. "Moreover, this past year has been particularly exciting as we've made major inroads in our 5G developments, from timing and sync to FlexE and segment routing. We've received terrific endorsements from customers and potential customers alike about our advancements. I am tremendously excited by the scale of opportunities for ECI in the 5G market."
Beyond these advances, additional highlights in 2018 include:
- Continued momentum with tier 1 customers worldwide
- Multiple 5G engagements with service providers across APAC, Europe and Americas
- Further penetration of markets like research and education (DFN, LitNET), transportation providers (Deutsche Bahn, CPTM), defense forces and more
- Significant industry recognition as ECI was named winner of NGON & DCI Awards, the 2018 Lightwave Innovation Reviews Program and its MEF3.0 Implementation at MEF18; and finalist for The Network Transformation Awards (NetTa) and The Global Telecoms (GLOTEL) Awards.
ECI expects to continue this resilient level of growth into 2019 and 2020 as major markets begin rolling out 5G services. ECI begins the year exhibiting at Mobile World Congress in Barcelona, Spain from February 25 - 28, 2019, in Hall 6, Stand 6E21.
ABOUT ECI
ECI is a global provider of ELASTIC network solutions to CSPs, critical infrastructures as well as data center operators. Along with its long-standing, industry-proven packet-optical transport, ECI offers a variety of SDN/NFV applications, end-to-end network management, a comprehensive cybersecurity solution, and a range of professional services. ECI's ELASTIC solutions ensure open, future-proof, and secure communications. With ECI, customers have the luxury of choosing a network that can be tailor-made to their needs today while being flexible enough to evolve with the changing needs of tomorrow.
For more information visit www.ecitele.com.
Press Contact
Allison+Partners for ECI Telecom
1-415-277-4935
[email protected]
SOURCE ECI Telecom
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