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Optical Communications Global Industry by Regions, Type & Applications During 2020-2023

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Monica Nerkar

Market Research Future (MRFR) expects the global optical communications market 2020 to touch a valuation of USD 24 billion by 2023. The worldwide market can expect to achieve a robust growth rate of 9% during the forecast period (2017 to 2023).

Top Boosters and Main Challenges

Increasing bandwidth requirements in the face of rising internet users and growing data traffic can favor the optical communications market in the following years. Surging demand among countries and businesses for uninterrupted data connectivity has led to a massive demand for higher-bandwidth speed, which benefits the global market. Optical communication system is fast gaining high traction around the world on account of the substantial commercial as well as consumer demand for faster internet services.

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The accelerated demand for high-speed as well as high-data-rate applications, expanding base of smartphone users, high demand for data-intensive applications, and surging number of data centers also boost the market growth. The widespread adoption of M2M and IoT technologies calls for a robust network capacity. As a result, the boost in the number of connected devices and the widespread adoption of data-intensive applications makes it imperative to deploy fiber-optic networks that offer better data transfer speed.

Many of the players in the optical communications market are expected to leverage the 5G wireless technology to elevate networking. Very soon, 5G will be replacing the 4G cellular technology, which necessitates the need to upgrade infrastructure along with the integration of terrestrial and wireless technologies by using advanced fiber-optic networks. Therefore, the transition from 4G to 5G network can leave a significant impact on the backhaul infrastructure, leading to abundant growth prospects for the vendors in the optical communications market.

Market Segmentation

The top segments in the optical communications market are component, technology, application and end users.

The components types are optical transceivers, optical switches, optical circulators, optical amplifiers, optical fibers, optical splitters, and others.

The technology types discussed in the report are wavelength-division multiplexing, fiber channel, synchronous optical networking, and others.

The optical communication applications are data center, telecom, enterprise, and others.

The end users can be segmented into astronomy, industrial, aerospace and defense, IT & Telecommunications, medical, and others. 

Regional Outlook

The top markets for optical communications are North America, Europe, Asia Pacific (APAC), and rest of the world (RoW).

North America ranks among the top regions in the global market for optical communications, thanks to the massive demand arising from the surging data rates and increasing operations complexity. The fast-paced adoption of IoT, cloud computing and mobile computing has led to a growth in the number of data centers, which fosters the growth of the optical communications market in the region.

Emerging countries like Japan, India and China contribute significantly to the APAC market for optical communications. The region is all set to achieve the highest CAGR, on account of the rising focus of renowned players on reaping the benefits of optical communications to fulfil every need of the customers. The expanding telecommunication industry backed by the surge in the number of smartphone users, internet penetration and social media inclination can benefit the regional market. The governments across regions are focused on infrastructural development, and network management and planning to augment optical networking and communication in the digitally backed business landscape.

Significant Market Contenders

The top contenders in the global market who are leveraging the advantages of optical communication include Singapore Telecommunications Limited (Singapore), Telstra Corporation Ltd. (Australia), Vodafone Group PLC (UK); Deutsche Telekom AG (Germany), Verizon Communications (US), Maxim Integrated (U.S), Telkom SA SOC Ltd. (South Africa), AT&T Inc. (U.S), Telefonica, S.A (Spain), Hetzner Online GmbH (Germany), Orange (France), to mention a few.

Know More @ https://www.marketresearchfuture.com/reports/optical-communications-market-4663 

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