The optical switches market is also poised to reach a valuation of USD 8.61 billion by 2024 from USD 3.98 billion in 2018. An optical switch is a device preferably used in the provision of selective switching of optical signals from one channel to the other by depriving the need for converting it into electrical signals. The widening benefits of optical switches have intensified the competition in the market, which has propelled the demand in the market resulting in whistle-stop growth over the next few years.
The growing data traffic and consequent increase in demand for high data transmission rates and reduction in energy consumption are the key drivers of optical switches market.
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Based on type, the global optical switches market has been classified into acousto optical switches, liquid crystal optical switches, bubble optical switches, fiber Bragg grating=-based optical switches, mechanical optical switches, magneto-optical switches, and others. The mechanical optical switches segment is expected to dominate the market during the review period due to its owing to its growing adoption in mechanical keyboards. This segment is also expected to register the highest CAGR during the forecast period.
On the basis of sales channel, the global optical switches market has been divided into original equipment manufacturers (OEMs), offline distributor, and online distributor. OEMs are expected to dominate the market in 2018 and the offline distributor segment is expected to register the highest CAGR during the review period.
On the basis of application, the global optical switches market has been divided into optical switching, fiber restoration and optic component testing, optical add-drop multiplexing, optical cross-connects (OXC), signal monitoring, and others. The optical switching segment is expected to be the largest during the review period owing to their growing adoption in data centers to facilitate both traffic control and for providing protection switching between the networks.
The key players profiled in the optical switches market research report are Juniper Networks (US), Keysight Technologies Inc. (China), HP Enterprises (US), ON Semiconductor (US), Fujitsu Ltd (Japan), ZTE Corporation (China), Yokogawa Electric Corporation (Japan), Omron Corporation (Japan), Huawei Technologies (China), NEC Corporation (Japan), D-Link Corporation (Taiwan), Emcore Corporation (US), Cisco Systems, Inc. (US), DiCon Fiberoptics, Inc. (US), and OPTEK Technology, Inc. (US).
August 1, 2019: Razer, a popular gaming brand, announced the introduction of Viper, which is a lightning-fast mouse that is operated with the help of optical switches. The optical switches ensure to have improved durability with the Razer Viper and have a lifespan of a whopping 70 million clicks.
Market Drivers & Trends
An optical switch has gained immense popularity among the consumers owing to its range of benefits cub as reduced network equipment, increased switching speed, and decreased operating power. Due to these benefits, the market growth is accelerated immensely in the current year, and with the increased demand, it is anticipated that the market will cover more revenues over the assessment period.
The expansion of optical switches at a rapid pace has also been observed in the areas of switching and routing of the optical signal, optical network protection, and restoration, and optical network monitoring have also contributed to the market share. Apart from this, the growing data traffic and consequent increase in the demand for data transmission rates and reduction in energy consumption to drive the demand for optical switches remarkably in the market.
On the flip side, factor such as high cost of optical switches can occur as a hindrance to the growth of the global optical switches market.
By type, the market has been segregated into acousto optical switches, liquid crystal optical switches, bubble optical switches, fiber Bragg grating-based optical switches, mechanical optical switches, magneto-optical switches, and others.
By sales channel vertical, the market has been segmented into OEMs, offline distributor, online distributor.
By application, the market has been segmented into optical switching, fiber restoration and optic component testing, optical add-drop multiplexing, optical cross-connects (OXC), signal monitoring, and others.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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Detailed Regional Outlook
For a detailed regional outlook, the global optical switches market study has been done under ley regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among these, Asia-Pacific is expected to have the maximum market share in the assessment period in support of increasing automation among various industry verticals that demand the use of optical switches for optic component testing. The region is substantially active in implementing optical switches mainly in prime countries like China, Japan, Australia, and India.
North America assumes to be at the second-largest market in the forecast period due to the high concentration of market players as well as the easy availability of expert technics.
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