Optical Communications Market Research Report- Global Forecast 2023
Optical communication is a process of sending information to another place through light waves. The technology is likely to gain momentum over the next couple of years. The global optical communications market, according to this report circulated by Market Research Future (MRFR), is expected to mark 9% CAGR across the assessment period 2017 to 2023. Also, the valuation of the market is assessed to reach USD 24 Bn by the end of the review period.
Optical fibers are the most widely used channel of optical communications. It is highly efficient for short-distance communications. The channel is also helpful in bringing down the cost of data services. Thus, the growth of the telecommunications industry, in addition to the declining prices of data, is expected to drive the expansion of the optical communications market during the review period. Optical communications are also efficient in providing high-speed data, which is the primary reason for the rising adoption of the technology. The growth of the market is expected to be driven by the rising demand for next-gen high bandwidth data centers. Increasing reliance on internet services in organizations is likely to benefit the expansion if the optical communications market in the nearby future.
The rising adoption of IoT is also poised to unleash developmental opportunities for the market players. The rising deployment of cloud services is poised to catalyze growth of the optical communications market. The developed economies have a standard network infrastructure which has accelerated the deployment of optical communication channels in the regions. It is also poised to work in favor of the proliferation of the optical communications market across the review period.
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On the basis of component, the optical communications market has been segmented into optical transceivers, optical fibers, optical switches, optical splitters, optical circulators, optical amplifiers, and others. The optical fibers segment is sub-divided into single-mode and multimode optical fiber.
By technology, the optical communications market has been segmented into fiber channel, wavelength-division multiplexing, synchronous optical networking, and others.
Based on the application, the segmental analysis of the optical communications market covers enterprise, data center, telecom, and others.
By end-users, the optical communications market has been segmented into IT & telecommunications, astronomy, industrial, aerospace and defense, medical, and others.
The global optical communications market, on the basis of region, has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are further studied on the basis of key country-level markets for a detailed assessment. North America is leading the global market currently and is assessed to maintain its prominence in the years to come. The increasing number of data centers in the region is poised to drive the growth of the optical communications market in the region. Also, the rising availability of high-speed data is expected to work in favor of the growth of the optical communications market across the assessment period. The growth rate in Asia Pacific, on the other hand, is anticipated to be the highest over the next couple of years.
Verizon Communications (US), Maxim Integrated (U.S), AT&T Inc. (U.S), Vodafone Group PLC (UK); Telefonica, S.A (Spain), Deutsche Telekom AG (Germany), Orange (France), Telstra Corporation Ltd. (Australia), Telkom SA SOC Ltd. (South Africa), Singapore Telecommunications Limited (Singapore), and Hetzner Online GmbH (Germany) are few of the major players of the global optical communications market. Technological innovations by these players are projected to intensify the competitiveness among the players over the next couple of years. In addition, product development and innovations are likely to be leveraged by market participants for gaining an edge over other players.
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Global Optical Communications Market, By Component (Optical Switches, Optical Transceivers, Optical Amplifiers, Optical Circulators, Optical Splitters, Optical Fibers), Technology, Synchronous Optical Networking (SONET), Fiber Channel, Wavelength-Division Multiplexing (WDM)), Application, End Users- Forecast till 2023
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