“Optical communication and networking equipment market projected to grow at a CAGR of 8.0% from 2020 to 2025”
The global optical communication and networking equipment market size was valued at USD 18.9 billion in 2020 and is projected to reach USD 27.8 billion by 2025; it is growing at a CAGR of 8.0% from 2020 to 2025. Rising adoption of cloud-based services and virtualization services all over the world, increasing data traffic in tandem with internet usage, and the growing number of data centers are the factors driving the optical communication and networking equipment industry growth.
“Optical communication and networking equipment market for fiber channel technology estimated to grow at highest CAGR”
The market for fiber channel technology-based optical communication and networking equipment is expected to grow at the highest CAGR during the forecast period. In enterprise data centers, high-speed fiber channel networking technology is used widely to transport data from storage systems. It ensures 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 equipment market for up to 40 Gbps to hold the largest share of the market”
Optical communication and networking equipment up to 40 Gbps is expected to hold the largest market share. Optical networking devices operating up to 40 Gbps provide large multipoint multiprotocol label switching (MPLS), metro Ethernet, and storage networks. Optical communication and networking devices with a data rate of up to 40 Gbps are designed for providing data security in data center interconnect (DCI), as well as for internet service providers (ISPs) and enterprise networks.
“Optical communication and networking equipment market for BFSI vertical to hold the largest share of the market”
The BFSI vertical accounted for the largest share of the optical communication and networking equipment market in 2019. Optical communication and networking devices are being increasingly deployed in the BFSI sector to protect their customers’ confidential data, meet compliance standards to ensure data security, facilitate security auditing, and avoid reputation damage caused by data breaches.
Breakdown of the profile of primary participants:
- By Company Size: Tier 1 = 20 %, Tier 2 = 30%, and Tier 3 = 50%
- By Designation Level: C-level Executives = 30%, Directors = 30%, and Others = 40%
- By Region: Americas = 10%, Europe = 20%, APAC = 40%, and RoW = 30%
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).
This research report categorizes the global optical communication and networking equipment market is based on component, technology, application, data rate, vertical, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the optical communication and networking equipment industry and forecasts the same till 2025.
Key Benefits of Buying the Report
The report would help market leaders/new entrants in the optical communication and networking equipment market in the following ways:
- This report segments the optical communication and networking equipment market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them 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 the competitor’s ecosystem, product developments, partnerships, and mergers and acquisitions in the optical communication and networking market.