Northbrook, IL -- (SBWIRE) -- 04/24/2018 -- According to the new market research report "Cable Modem Termination System (CMTS) and Converged Cable Access Platform (CCAP) Market by Type (CMTS, and CCAP), DOCSIS Standard (DOCSIS 3.1, and DOCSIS 3.0 and Below), Application (Consumer, and Business), and Geography - Global Forecast to 2023", the CMTS and CCAP market size is estimated to be valued at USD 3.87 Billion by 2017 and is likely to reach USD 7.23 Billion by 2023, at a CAGR of 10.96% between 2017 and 2023. The major factors driving this market include increasing investment in broadband services, the advent of over the top (OTT) services such as Netflix, Amazon Prime, and Hulu, and growing demand for IoT.

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CCAP is expected to hold the largest market share in the forecast period

The CCAP market is growing because of booming internet and over the top (OTT) services, which is driving the adoption of new headend hardware. CCAP is capable of fulfilling all the requirements related to high-speed internet and OTT services, whereas CMTS is lagging. However, the cable industry's DOCSIS 3.1 upgrade is also a major instigating factor for high adoption of CCAP. In addition, CMTS market will continue to fall slowly.

DOCSIS 3.1 standard systems to hold the largest market share during the forecast period

With the increased demand for CCAP systems and DOCSIS 3.1 standard cable lines across verticals, the market for DOCSIS 3.1 standard systems is expected to hold the largest market in the forecast period. It is expected to continue the same during the forecast period owing to the increase in the demand for high-speed internet and OTT services such as internet TV, video on demand, music, and communications.

North America expected to hold the largest market share during the forecast period

North America emerged as a major consumer for the CMTS and CCAP market. Increasing demand for high-speed internet and OTT services is expected to propel the CMTS and CCAP market. Major companies such as Arris, Harmonic, and Cisco are launching their products in this region. Moreover, DOCSIS 3.1 upgrade is encouraging CMTS and CCAP system manufacturers to manufacture systems with DOCSIS 3.1 specification.

The major players in the market include Arris (US), Cisco (US), Casa Systems (US), Harmonic (US), Nokia (Finland), Huawei (China), Broadcom (US), Juniper (US), Chongqing Jinghong (China), Blonder Tongue Laboratories, Inc. (US), Sumavision Technologies Co., Ltd. (China), Versa Technology Inc. (US), C9 Networks Inc. (US), Vecima Networks Inc. (Canada), and Teleste Corporation (Finaland).

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