The global coherent optical equipment market is slated to witness a CAGR of 10.07% during the forecast period, 2019-2028. The factors impacting the growth of the market are the rising internet penetration, advancing networking infrastructure, and increasing access to high-speed bandwidth.
The last few years saw an increase in wireless mobile devices and smartphones in emerging regions like the Middle East, the Asia Pacific, and South America. These are equipped with roughed hardware technologies like RAM & ROM, HD displays, and processors. They enable the smooth and efficient running of high-definition videos and games. Also, the expansion of 4G infrastructure by telecom operators, so as to allow huge network traffic, is one of the primary drivers of market growth.
At the same time, the generation of vast amounts of data and the growing demand for enhanced network coverage has propelled the need for coherent optical equipment. There has also been a shortage of fiber and long-term plans for the installation of networks. As a result, the network providers look for securing a long-term supply of optical fiber through fiber manufacturers. Verizon Communications signed an agreement in April 2017, with Corning. The agreement entailed a 20 million km of optical fiber per year from 2018-2020.
The regional analysis of the global coherent optical equipment market entails the assessment of North America, Asia Pacific, Europe, and the rest of the world. The North America region dominated the global market in 2019. The region encompasses a growing need for IoT devices and surging demand for fiber optic cables.
The established players in the market harbor the majority of market share in the industry. Cisco Systems Inc, Ciena Corporation, Fujitsu Limited, Eci Telecom, etc. are among the established players of the market.
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