电信投资机会回升分析报告(Telecom Recovery Investment Opportunities)

I. INTRODUCTION AND KEY FINDINGS
　　1.1 The Case for Recovery
　　1.2 Recovery Factors
　　1.3 Investment Trends
　　1.4 Key Findings
　　1.5 Methodology and Results
　　1.6 Conclusion

II. VENTURING CAPITAL ON TELECOM STARTUPS
　　2.1 Equipment Startups: Promise and Pitfalls
　　2.2 Venture Capital Investment Strategies

III. DEFINING THE TELECOM SYSTEMS MARKETS
　　3.1 Access Equipment
　　3.2 Transport Infrastructure
　　3.3 Packet Services Infrastructure
　　3.4 High-Value IP

IV. TELECOM INVESTMENT OPPORTUNITIES:RANKING THE MARKET SEGMENTS
　　4.1 Access Equipment
　　4.2 Transport Infrastructure
　　4.3 Packet Services Infrastructure
　　4.4 High-Value IP
　　4.5 M&A Outlook
　　　　– Next-Gen Access
　　　　– Convergence at the Multiservice Edge
　　　　– Making the Network Ethernet
　　　　– Cable/MSO Convergence

V. ACCESS EQUIPMENT
　　5.1 DSL Access Multiplexers (DSLAMs)
　　5.2 Broadband Remote Access Servers (B-RASs)
　　5.3 Ethernet Access Equipment
　　5.4 Fiber Access Equipment
　　5.5 Multiservice Access and 3G DLCs
　　5.6 Equipment for Cable/MSO Networks
　　　　– Cable/MSO Network Infrastructure
　　　　– Cable/MSO Advanced Services Equipment
　　5.7 Free-Space Optics
　　5.8 802.11 Wireless LAN Switches

VI. TRANSPORT INFRASTRUCTURE
　　6.1 Sonet/SDH Multiservice Provisioning Platforms (MSPPs)
　　6.2 Metro Ethernet Equipment
　　6.3 Metro DWDM/MSTP Systems
　　6.4 CWDM Systems
　　6.5 DCS/MSSP Systems
　　6.6 Long-Haul DWDM Systems
　　6.7 Optical Switches

VII. PACKET SERVICES INFRASTRUCTURE
　　7.1 10-Gbit/s Ethernet Switches
　　7.2 Multiservice Switches
　　7.3 Service Edge Routers
　　7.4 Transport Core Routers

VIII. HIGH-VALUE IP
　　8.1 Packet Voice Equipment
　　8.2 IP Service Controllers

APPENDICES
　　A1 Complete Product Lines – Private Companies
　　A2 Complete Product Lines – Public Companies
　　B Private Company Investment Information
　　C Venture Capitalist Investments
　　D Author Bio
　　E Legal Disclaimer

LIST OF FIGURES
　　SECTION I
　　　　Figure 1.1 Historical Trends in VC Investments in Networking and Equipment
　　　　Figure 1.2 Free Cash Flow for Major U.S. Telecom Carriers (in Millions)
　　　　Figure 1.3 Global Wireline Carrier Capital Expenditures by Region (in Billions)
　　　　Figure 1.4 Private Capital at Work Today, by Market Segment (in Millions)
　　　　Figure 1.5 Most Attractive Private Company Acquisition Targets
　　　　Figure 1.6 Most Likely IPO Candidates
　　SECTION II
　　　　Figure 2.1 Startups With the Most Funding Raised to Date
　　SECTION III
　　　　Figure 3.1 Access Products in the Telecom Taxonomy
　　　　Figure 3.2 Transport Infrastructure Products in the Telecom Taxonomy
　　　　Figure 3.3 Packet Services Infrastructure Products in the Telecom Taxonomy
　　　　Figure 3.4 High-Value IP Products in the Telecom Taxonomy
　　SECTION IV
　　　　Figure 4.1 Access Equipment Market Segment Evaluation
　　　　Figure 4.2 Transport Infrastructure Market Sector Evaluation
　　　　Figure 4.3 Packet Services Infrastructure Market Sector Evaluation
　　　　Figure 4.4 High-Value IP Market Sector Evaluation
　　　　Figure 4.5 Top Market Segments for M&A and Investment
　　　　Figure 4.6 Telecom Recovery M&A Activity
　　　　Figure 4.7 Incumbent Vendor Product Lines
　　SECTION V
　　　　Figure 5.1 Access Equipment Market Segment Overview
　　　　Figure 5.2 Private DSLAM Vendors at a Glance
　　　　Figure 5.3 Public DSLAM Vendors at a Glance
　　　　Figure 5.4 Private B-RAS Vendors at a Glance
　　　　Figure 5.5 Public B-RAS Vendors at a Glance
　　　　Figure 5.6 Private Ethernet Access Equipment Vendors at a Glance
　　　　Figure 5.7 Public Ethernet Access Equipment Vendors at a Glance
　　　　Figure 5.8 Private Fiber Access Equipment Vendors at a Glance
　　　　Figure 5.9 Public Fiber Access Equipment Vendors at a Glance
　　　　Figure 5.10 Private Multiservice Access Vendors at a Glance
　　　　Figure 5.11 Public Multiservice Access Vendors at a Glance
　　　　Figure 5.12 Private Cable/MSO Equipment Vendors at a Glance
　　　　Figure 5.13 Public Cable/MSO Equipment Vendors at a Glance
　　　　Figure 5.14 Private Free-Space Optics Vendors at a Glance
　　　　Figure 5.15 Private Free-Space Optics Vendors at a Glance
　　　　Figure 5.16 Private 802.11 Wireless LAN Switch Vendors at a Glance
　　　　Figure 5.17 Private 802.11 Wireless LAN Switch Vendors at a Glance
　　SECTION VI
　　　　Figure 6.1 Transport Infrastructure Market Segment Overview
　　　　Figure 6.2 Private MSPP Vendors at a Glance
　　　　Figure 6.3 Public MSPP Vendors at a Glance
　　　　Figure 6.4 Private Metro Ethernet Equipment Vendors at a Glance
　　　　Figure 6.5 Public Metro Ethernet Equipment Vendors at a Glance
　　　　Figure 6.6 Private Metro DWDM/MSTP Vendors at a Glance
　　　　Figure 6.7 Public Metro DWDM/MSTP Vendors at a Glance
　　　　Figure 6.8 Private CWDM Systems Vendors at a Glance
　　　　Figure 6.9 Public CWDM Systems Vendors at a Glance
　　　　Figure 6.10 Private DCS/MSSP Systems Vendors at a Glance
　　　　Figure 6.11 Public DCS/MSSP Systems Vendors at a Glance
　　　　Figure 6.12 Private Long-Haul DWDM Systems Vendors at a Glance
　　　　Figure 6.13 Public Long-Haul DWDM Systems Vendors at a Glance
　　　　Figure 6.14 Private Optical Switch Vendors at a Glance
　　　　Figure 6.15 Public Optical Switch Vendors at a Glance
　　SECTION VII
　　　　Figure 7.1 Multiservice Over MPLS – Future Network Architecture
　　　　Figure 7.2 Packet Services Infrastructure Market Segment Overview
　　　　Figure 7.3 Private 10-Gbit/s Ethernet Switch Vendors at a Glance
　　　　Figure 7.4 Public 10-Gbit/s Ethernet Switch Vendors at a Glance
　　　　Figure 7.5 Private Multiservice Switch Vendors at a Glance
　　　　Figure 7.6 Public Multiservice Switch Vendors at a Glance
　　　　Figure 7.7 Private Service Edge Router at a Glance
　　　　Figure 7.8 Public Service Edge Router at a Glance
　　　　Figure 7.9 Private Transport Core Router Vendors at a Glance
　　　　Figure 7.10 Public Transport Core Router Vendors at a Glance
　　SECTION VIII
　　　　Figure 8.1 High-Value IP Market Segment Overview
　　　　Figure 8.2 Advanced Packet Voice Services
　　　　Figure 8.3 Private Packet Voice Equipment Vendors at a Glance
　　　　Figure 8.4 Public Packet Voice Equipment Vendors at a Glance
　　　　Figure 8.5 Private IP Service Controller Vendors at a Glance
　　　　Figure 8.6 Public IP Service Controller Vendors at a Glance