A surge in demand for high bandwidth and increasing application of free space optical technology in military environments is strongly driving the growth of the free space optics market. Bandwidth usage is experiencing unprecedented growth and the demand for bandwidth is not likely to slow down in the coming years. Free space optical communication is a viable solution for various military applications and the most promising military environments where FSO technology can be used include military bases.
Albany, NY -- (SBWIRE) -- 04/18/2017 -- Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new report to its ever-expanding online repository of market intelligence on Global Free Space Optics Market . This report is titled as "Global Free Space Optics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024". The free space optics technology has been gaining immense popularity and the high rate of adoption across diverse industries are projected to contribute towards the development of the overall market. The rising prominence of the free space optics technology can be attributed to the growing demand for high-speed connectivity at relatively low costs. The easy installation and quick deployment of free space optics are some of the other key factors expected to fuel the growth of the market in the next few years.
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As per the research study by Transparency Market Research (TMR), in 2015 the global market for free space optics was worth US$81.3 mn and is predicted to reach a value of US$1,306.1 mn by the end of 2024. The market is likely to exhibit an impressive 39.50% CAGR between 2016 and 2024.
Expansion of Application Base to Bolster Global Free Space Optics Market
The growing demand for high bandwidth and the increasing number of applications of free space optical technology in the military sector are the important factors expected to fuel the growth of the global free space optics market in the coming few years. In addition, the implementation of free space optics in 4G and 3G networks across the globe is predicted to offer promising opportunities for the leading players operating in the global free space optics market. On the flip side, the deterioration of the quality of the signal owing to the environmental interference is one of the major factors estimated to restrict the growth of the global market in the near future.
Some of the primary applications of free space optics technology are airborne applications, data transmission, defense, healthcare, disaster recovery, last mile access, storage area network, and security. The data transmission segment is likely to lead and hold a massive share of the global free space optics market in the next few years. The high bandwidth capacity, less power consumption, and the high security features for communication are some of the primary features provided by free space optics technology are allowing the key players to expand the application base and accelerate market growth.
High Focus on Research and Development Activities to Encourage Growth across North America and Europe
From a geographical viewpoint, in 2015, North America led the global free space optics market and is predicted to remain in this position throughout the forecast period. North America is projected to be followed by Europe in the next few years. In the same year, these two regions collectively held a share of around 60% of the global market. The growing focus on research and development activities and the early penetration of advanced technologies are some of the expected to encourage the growth of the market in North America and Europe. In addition, the constant upgrades to network infrastructure and access to high-quality communication methods are estimated to supplement market's growth in the coming years.
Browse the full Press Release of Global Free Space Optics Market at :http://www.mrrse.com/free-space-optics-market-report
Some of the leading players operating in the global free space optics market are IBSENtelecom Ltd., fSONA Networks Corp., Optelix, Wireless Excellence Limited, AOptix Technologies Inc., Harris Corporation, Mostcom Ltd., LightPointe Communications, Inc., Trimble Hungary Ltd., and Anova Technologies.
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