Optical communication offers numerous benefits over copper wire-based communication, some of them being transmission security, long distance signal transmission, high bandwidth, low attenuation, light weight and smaller diameter structure. Owing to these benefits, the product demand has noted a tremendous surge in the past couple of years, leaving a positive impact on the growth of the overall market.
The increasing need for faster and reliable communication networks, coupled with the rising adoption of cloud-based services and growing number of data centers around the world are few factors at the helm of the growth of the global optical communication market. Other factors responsible for further expansion of the market size include the continuous introduction and adoption of new applications and technologies like cloud computing, wearable devices, and Internet of Things (IoT) that address the evolving consumer demands.
Additionally, the increasing use of optical transceivers for upgrading the existing telecommunication networks coupled with the launch of large mega data centers will prove to be highly beneficial for the market, revenue-wise. Moreover, in the wake of the fast penetration of internet, especially in smartphones, along with the increasing mainstream adoption of cloud computing technologies, the data center application will maintain its lucrative growth pattern well throughout the forecast period. Although there are chances of risks related to optical network security, the growing broadband connectivity in the emerging nations as well as continuous advancements in LTE, VoIP, and 5G network technologies will present abundant market growth opportunities.
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Major Key Players
- Verizon Communications (US),
- AT&T Inc. (U.S),
- Maxim Integrated (U.S),
- Vodafone Group PLC (UK);
- Deutsche Telekom AG (Germany),
- Telefonica, S.A (Spain),
- Orange (France),
- Telkom SA SOC Ltd. (South Africa),
- Telstra Corporation Ltd. (Australia),
- Singapore Telecommunications Limited (Singapore),
- Hetzner Online GmbH (Germany),
- Corning Incorporated (U.S)
are leading provider of optical communications in the global market. In 2017, Vodafone Group PLC went into the agreement with Telefonica, S.A to access optic network. Under this agreement, the Vodafone can access the fiber network coverage and look forward for the extension towards ultra-fast broadband and television services.
As per the predictions by Market Research Future (MRFR), the Global Optical Communications Market holds lot of promise, as it will be reaching the whopping value of USD 24 billion by 2023. Also, the market size is slated to expand at a healthy CAGR of 9% during the forecast period (2017-2023).
March 2019 – Few researchers from the University of St Andrews have made a breakthrough in the calculation of lasers, which could bring a revolution to the field of fiber-optic communications. The researchers have come up with a highly-sensitive and low-cost device that can measure the wavelength of light with high accuracy. This development will provide a significant boost to the optical and quantum sensing technology, improving the performance of next generation sensors and also enhance the information-carrying capacity possessed by the fiber-optic communications networks.
The market for optical communications is segmented on the basis of technology, component, end-users, and applications.
The various components of optical communication are optical transceivers, optical switches, optical fibers, optical splitters, optical amplifiers, optical circulators, and others. Out of these, the optical fibers segment can be further segmented into single-mode and multimode optical fiber.
Technology-wise, the market for optical communication can be considered for fiber channel, synchronous optical networking, wavelength-division multiplexing, and others.
Optical communication finds numerous applications in telecom, enterprise, data center, and others.
The market, by end-users, caters to IT & telecommunications, aerospace and defense, astronomy, industrial, medical, and others.
Based on the geography, the global optical communications market is thriving in the regions of Asia Pacific, North America, Europe, and the Rest-of-the-World.
Securing the top position is the region of North America, garnering the maximum market share out of all the regions. The optical communication market enjoys remarkable demand in the region on account of the rising data rates enabling the increasing data collection as well as the reduction in operational complexity. North America has emerged as a prominent data center and cloud computing hub, ultimately making it the largest consumer of optical communication and networking as data center is considered to be the leading application in the market.
The Europe optical communication market is on its way to clock in a rapid growth trajectory in the given time frame, as a result of the presence of highly advanced telecommunication network in the region.
Asia Pacific is touted to be an emerging region for optical communication market, slated to register the highest CAGR during the conjectured time period, with the growing focus of renowned players that target optical communications for meeting with the customer’s requirements. Also, the substantial growth of consumer electronics along with the striking proliferation of internet connectivity in the region, particularly in the developing economies like India, China, and Japan will work wonders for the growth of the regional market over the coming years.
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- Optical communications companies
- Optical communications providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
LIST OF TABLES
TABLE 1 OPTICAL COMMUNICATIONS MARKET, BY COMPONENT
TABLE 2 OPTICAL COMMUNICATIONS MARKET, BY TECHNOLOGY
TABLE 3 OPTICAL COMMUNICATIONS MARKET, BY APPLICATIONS
TABLE 4 OPTICAL COMMUNICATIONS MARKET, BY VERTICAL
TABLE 5 OPTICAL COMMUNICATIONS MARKET, BY REGION
LIST OF FIGURES
Figure 1 Research Component
Figure 2 Optical Communications Market, By Component (%)
Figure 3 Optical Communications Market, By Technology (%)
Figure 4 Optical Communications Market, By Applications (%)
Figure 5 Optical Communications Market, By Vertical (%)
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