New York City, NY -- (SBWIRE) -- 09/08/2020 -- The global optical networking and communication market is predicted to attain a revenue of $32.8 billion by 2030, according to a report by P&S Intelligence. The market is being driven by the rising requirement for high bandwidth, emergence of M2M and IoT technologies, and increasing mobile data traffic. In addition to this, the rising need for higher bandwidth is predicted to open up opportunities for telecommunication carriers and services providers in a number of areas.
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The market has however taken a hit due to the continuous spread of coronavirus across the globe. The decreased purchasing power of consumers has led to the decline in electronics and telecommunication component manufacturing industries. This negative impact however is expected to flatten out, once things start to get normal. The high need for more-efficient and stronger networks for addressing bandwidth needs is predicted to drive the domain post-corona.
In terms of component, the optical networking and communication market is divided into optical splitters, optical transceivers, optical fibers, optical switches, optical circulators, optical amplifiers, and others. Out of these, the optical fibers division is expected to progress at the fastest pace in the years to come. Advanced network infrastructure needs low power consumption, latency, and cost, along with higher capacity in terms of data transfer, which needs high-quality hardware components.
On the basis of end user, the optical networking and communication market is categorized into government, telecommunication, cloud and data centers, industrial, commercial, cable/broadcasting, and others. Out of these, the telecommunications industry is expected to account for the major share of the market during 2020–2030. The increasing penetration of social media, internet, and smartphones and introduction of 5G are driving the growth of this industry. IoT is predicted to become the major driving factor for this industry.
Browse report overview with detailed TOC on "Optical Networking and Communication Market Research Report: By Component (Optical Fibers, Optical Transceivers, Optical Amplifiers, Optical Switches, Optical Splitters, Optical Circulators), Technology (WDM, SONET, Fiber Channels), Data Transfer Rate (Up to 40 Gbps, 40 Gbps to 100 Gbps, Greater than 100 Gbps), End User (Telecommunication, Cable/Broadcasting, Government, Cloud and Data Centers, Commercial, Industrial) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/-optical-networking-and-communication-market
Geographically, the Asia-Pacific region accounted for the largest revenue share of the optical networking and communication market in 2019. The regional market is being driven by the large-scale adoption of technological advancements in the IT and telecommunication industry. Moreover, the rising applications of fiber optics and the increasing government investments for enhancing the security infrastructure in emerging economies are leading to the growth of the regional domain.
The research includes detailed analysis of;
Based on Component
- Optical Fibers
- Optical Transceivers
- Optical Amplifiers
- Optical Switches
- Optical Splitters
- Optical Circulators
Based on Technology
- Width Division Multiplexing (WDM)
- Synchronous Optical Network (SONET)
- Fiber Channels
Based on Data Transfer Rate
- Up to 40 Gigabits per Second (Gbps)
- 40 Gbps to 100 Gbps
- Greater than 100 Gbps
Based on End User
- Telecommunication
- Cable/Broadcasting
- Government
- Cloud and Data Centers
- Commercial
- Industrial
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