The Optical Communication and Networking by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Optical Communication and Networking, The optical communication and networking market size has grown strongly in recent years. It will grow from $23.32 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increasing demand for energy-efficient & compact transceivers, tech sector supported the demand for optical communication, increasing number of internet users, strong economic growth in emerging markets and increasing wireless technology.
The optical communication and networking market size is expected to see strong growth in the next few years. It will grow to $31.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing number of data centers, rising urbanization, government initiatives and increasing internet penetration. Major trends in the forecast period include use of multicore optical fiber, adoption of coherent optics, use of fiber optic cables, new product launches, technological advancements, mergers and acquisitions and partnerships and collaborations.
The increase in demand for the internet is expected to propel the growth of the optical communication and networking market going forward. Due to increasing digital media and a shift towards a working-from-home environment, the demand for internet is increasing. Optical communications and networking technologies are playing an increasingly important role in interconnecting a large variety of IT resources over globally distributed autonomous network systems to facilitate cost-effective information exchange and processing. For instance, in 2021, according to a report released by the International Telecommunication Union, a Switzerland-based digital technology provider, a total of 4.9 billion people around the world use the internet, which is equivalent to 63% of the world’s total population. Therefore, the increasing demand for the internet is driving the growth of the optical communications and networking market.
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The optical communication and networking market covered in this report is segmented –
1) By Component: Optical Fiber, Optical Transceiver, Optical Switch, Optical Amplifier, Optical Circulator, Other Components
2) By Technology: Wavelength Division Multiplexing (WDM), Synchronous Optical Network (SONET), Fiber Channel.
3) By End-Use: IT And Telecom, Banking, Financial Services, Insurance (BFSI), Aerospace And Défense, Healthcare, Energy And Utilities, Other End Users
Technological advancements are the key trend gaining popularity in the optical communication and networking market. Major companies operating in the optical communication and networking sector are focused on developing new technologies to sustain their position in the market. For instance, in March 2022, ADVA, a Germany-based telecommunications equipment company, launched a new BiDi pluggable device, named MicroMux, which helps in supporting single-fiber operations and delivering an improved signal range of up to 40 km. MicroMux works on Edge BiDi (Bidirectional) ideal technology, which increases 10GbE (Gigabit Ethernet) optical interfaces. This helps in connectivity deployments in wireless and wireline access networks. This helps to increase the bandwidth.
The optical communication and networking market report table of contents includes:
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Top Major Players:
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