LONDON, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the optical communication and networking market, increasing demand for the internet is expected to propel the growth of the optical communication and networking market going forward. Due to increasing digital media and a shift towards working from home environments, the demand for the internet is increasing. Optical communications and networking technologies are playing an increasingly important role in interconnecting a large variety of IT resources over globally distributed autonomous network systems to facilitate cost-effective information exchange and processing. For instance, in 2021, according to a report released by the International Telecommunication Union, a Switzerland-based digital technology provider, a total of 4.9 billion people around the world use the internet, which is equivalent to 63% of the world’s total population. It increased by around 17% when compared with 2019. Therefore, the increasing demand for the internet is driving the growth of the optical communications and networking market.
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The global optical communication and networking market size is expected to grow from $20.32 billion in 2021 to $22.19 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The global optical communication and networking market share is expected to reach $27.41 billion in 2026 at a CAGR of 5.4%.
Technological advancements are the key trend gaining popularity in the optical communication and networking market. Major companies operating in the optical communication and networking sectors are focused on developing new technologies to sustain their position in the market. For instance, in March 2022, ADVA, a Germany-based telecommunications equipment company, launched a new BiDi pluggable device, named MicroMux, which helps in supporting single-fiber operations and delivering improved signal range of up to 40km. MicroMux works on Edge BiDi (Bidirectional) ideal technology, which increases 10GbE (Gigabit Ethernet) optical interfaces. This helps in connectivity deployments in wireless and wireline access networks. This helps to increase the bandwidth.
Major players in the optical communication and networking market are Fujitsu Optical Components, Nokia, Cisco, Finisar, Huawei, Ciena, Ericsson, Juniper, Sumitomo Electric, Infinera, Adtran, Adva, Telefonaktiebolaget LM Ericsson, Broadcom, Coriant, ECI Telecom Ltd., Oclaro Inc., Padtec S/A, Sumitomo Corporation, Neophotonics Corporation, Ribbon Communications Inc., and FiberHome.
The global optical communication and networking market is segmented By Component into Optical Fiber, Optical Transceiver, Optical Switch, Optical Amplifier, Optical Circulator, Others; By Technology into Wavelength Division Multiplexing (WDM), Synchronous Optical Network (SONET), Fiber Channel; By End User into Telecommunication, Data Broadcasting, Commercial, Governmental Enterprises, Defense, Information Technology, Others.
Asia-Pacific was the largest region in optical communication and networking in 2021. Europe is expected to be the fastest-growing region in the global optical communication and networking market during the forecast period. The regions covered in the global optical communication and networking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Optical Communication And Networking Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide optical communication and networking market overviews, optical communication and networking market analyze and forecast market size and growth for the whole market, optical communication and networking market segments and geographies, optical communication and networking market trends, optical communication and networking market drivers, optical communication and networking market restraints, optical communication and networking market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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