Selbyville, Delaware, Aug. 31, 2021 (GLOBE NEWSWIRE) --
According to latest report “Optical Communication & Networking Market by Component (Optical Fiber, Optical Transceiver, Optical Switch, Optical Amplifier, Optical Circulator), Technology (Wavelength Division Multiplexing (WDM), Synchronous Optical Network (SONET), Fiber Channel), Application (IT & Telecom, BFSI, Government & Defense, Healthcare, Retail, Energy & Utilities), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of optical communication and networking will cross $30 billion by 2027. The increasing investments in developing and commercializing M2M communication networks over licensed spectrums are expected to significantly contribute to the market progression.
The market growth is attributed to the rising concerns over securing sensitive data across enterprises along with faster & reliable internet connectivity. Optical communication helps to upgrade the telecommunication systems and offer instant data speeds for large-scaled datacenters. It also provides reliability with nearly 100% uptime and very low network latency. The government initiatives for the rapid development of smart city projects are fueling the demand for optical communication and networking systems to provide uninterrupted connectivity to a large number of IoT devices.
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The optical fiber segment in the optical communication & networking market is anticipated to witness 5% growth rate through 2027 led by the increasing number of internet users and the rising need for FTTx. Optical fibers reduce transmission loss with low latency and reduced data collision, increasing the adoption across data centers to handle massive data loads.
The fiber channel technology segment captured 10% of the optical communication & networking market share in 2020 impelled by the increasing acceptance across large enterprises for efficient data storage and secure remote connections by enabling hardware-managed error detection for reduced network overhead. Moreover, increasing demand for cloud data centers is driving the demand for fiber channels.
BFSI segment is projected to observe a significant revenue share during the forecast timeline due to the increasing penetration of emerging technologies including the Internet of Things (IoT), machine-to-machine networks, AI, cloud-based services, and an increase in web-based applications. The growing emphasis on offering digital service experience with value addition is set to support the usage of optical communication and networking solutions across the industry.
Europe optical communication & networking market size will reach USD 9 billion by 2027 owing to the growth of enterprise network infrastructure and industry-wide demand for reliable internet access. Several regional enterprises are focusing on partnerships to develop innovative solutions. For instance, in October 2020, Cellnex Telecom, a Telecommunications infrastructure operator, signed a partnership agreement with Everynet, a provider of IoT connectivity services to promote IoT networks. This partnership helped the company to deploy smart IoT networks based on LoRaWAN technology across Cellnex’s extensive network of telecommunication infrastructures to provide improved connectivity to multiple sectors such as utilities, agriculture, and transportation.
Major players operating in the optical communication & networking market are ADTRAN, Inc, ADVA Optical Networking SE., Arista Networks., Broadcom, Calix, Cisco Systems, Inc, Coriant., Corning Incorporated, ECI Telecom, Finisar., Fujitsu Optical Components, and Huawei Technologies Co. The companies are focusing on developing innovative solutions.
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Table of Contents (ToC) of the report:
Chapter 3 Optical Communication & Networking Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 Regional outlook
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.4 Industry ecosystem analysis
3.4.1 Component manufacturers
3.4.2 Telecom service providers
3.4.3 System integrator
3.4.4 End users
3.4.5 Vendor matrix
3.5 Industry evolution
3.6 Technology & innovation landscape
3.6.1 5G network
3.6.2 IoT
3.6.3 Artificial Intelligence
3.7 Regulatory landscape
3.8 Investment portfolio
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfall & challenges
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/optical-communication-and-networking-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
