“Optical communication and networking market projected to grow at a CAGR of 8.1% between 2017 and 2023”
The optical communication and networking market is expected to grow from USD 15.11 billion in 2017 to USD 24.12 billion by 2023, at a CAGR of 8.1% between 2017 and 2023. The growth of this market is driven by the rising adoption of cloud-based services and virtualization, and increasing internet penetration and data traffic. The major restraint for this market is the high initial investment and increasing network complexity.
“Optical communication and networking market for fiber channel technology estimated to grow at the highest CAGR”
The market for fiber channel is expected to grow at the highest CAGR during the forecast period. Fiber channels ensure that all storage data arrives at its network destination without loss at extreme throughput and low latency while operating at high utilization rates without data collisions or the need for retransmission.
“Optical communication and networking market for optical switches to hold the largest share of the market during the forecast period”
The market for optical switches is expected to lead the market between 2017 and 2023. Data communication networks make use of optical fibers due to their large bandwidth requirement. Optical switches are used in fiber optic transmission systems for the development of the optical network. Optical switches enable reduction in the number of network equipment, increase the switching speed, and reduce power consumption.
“Optical communication and networking market in APAC to grow at the highest CAGR during the forecast period”
The market in APAC is expected to grow at the highest CAGR between 2017 and 2023 owing to the extension of the network in China, Thailand, Malaysia, South Korea, India, and other developing countries in APAC. The APAC region is the largest producer as well as consumer of smartphones, laptops, TVs, and various other data-generating devices across the globe. This makes it one of the largest consumers of the Internet, and the trend is expected to continue during the forecast period.
Breakdown of the profile of primary participants:
- By Company Size: Tier 1 = 20 %, Tier 2 = 55%, and Tier 3 = 25%
- By Designation Level: C-Level Executives = 50%, Directors = 25%, and Others = 25%
- By Region: Americas = 60%, Europe = 25%, APAC = 10%, and RoW = 5%
The major players in the optical communication and networking market are Huawei Technologies Co. (China), Nokia (Finland), Cisco (US), Ciena (US), ADTRAN (US), ZTE (China), Broadcom (US), Finisar (US), Fujitsu Optical Components (Japan), Infinera (US), ADVA Optical Networking (Germany), NEC (Japan), Juniper Networks (US), Ericsson (Sweden), Corning (US), and Coriant (US). The key innovators in the market are Lumentum Operations (US), Calix (US), Oclaro (US), Arista Networks (US), NeoPhotonics (US), Mitsubishi Electric (Japan), and ECI Telecom (Israel).
The study segments the optical communication and networking market on the basis of components into optical fibers, optical transceivers, optical amplifiers, optical switches, optical splitters, optical circulators, and others. Moreover, the market has been segmented on the basis of technology into WDM, SONET, and fiber channel. The study covers applications such as telecom, data center, and enterprise in which optical communication and networking equipment are used. Furthermore, the report forecasts the market size for various segments with regard to four main regions?Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons To Buy the Report
The report would help market leaders/new entrants in the optical communication and networking market in the following ways:
- This report segments the optical communication and networking market comprehensively and provides the closest approximations of the overall market size as well as that of the subsegments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business.
- The competitive landscape section includes competitor ecosystem, product developments, partnerships, and mergers and acquisitions in the optical communication and networking market.