Optical Networking Market is Anticipated to Grow at a CAGR of 8.4% from 2022 – 2029 | Report by FMI
Optical Networking Market is anticipated to progress at a high CAGR of 8.4% to reach a valuation of US$ 24.8 Billion by 2029. The report opines that Asia Pacific excluding Japan (APEJ) will remain a significant market for optical network providers, owing to strong growth prospects of 5G technology among mobile network operators in the region. 5G will be relying on fiber as an advanced radio technology to deliver front haul for Cloud-RANs (radio access networks) and backhaul for dense, fast networks.
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Key Takeaways of Optical Networking Market Study
- North America holds a significant revenue share in global optical networking market through 2029.
- Network design service would remain sought-after in the global optical networking market.
- Optical fiber, as a preferred product, will continue to capture a significant market share throughout the forecast period.
- Demand for fiber channels is set to grow at an impressive CAGR through 2029. WDM (Wavelength-division multiplexing) is however projected to remain estimated to continue to hold significant market share in the global optical networking market during the forecast period.
Top market players in the worldwide optical networking industry use variety of methods such as product launches, product design, association, collaborations, and contracts. Market players are focusing on updating their optical networking technologies to achieve a market position.
- Huawei Technologies Co.
- Fujitsu Optical Components
- SingleRAN Pro is designed by Huawei Technologies to broaden the Wireless First approach to cover more services and support operators in moving into new functional departments. SingleRAN Pro has new 5G capabilities such as a tenfold increase in network capacity, coverage, and improvement in user experience. The solution also included artificial intelligence (AI) to help networks run more smoothly.
Increasing Demand for ROADM-based Optical Network to Propel Sales
Network providers are moving to more automated, software-driven, high scalable connections that offers new cost savings, and efficient service agility.
There is a growing demand for ROADM-based optical foundation that depends on instrumented photonics, flexible, and Layer 0 software to control and scale the connection for maximum capacity at the lowest power, space, and cost per bit. Therefore, introduction of high-speed analogue circuit is expected to drive the growth of the global optical networking market.
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Know More About What the Optical Networking Market Repost Covers
Future Market Insights offers an unbiased analysis of the global optical networking market, providing historical data for 2014-2021 and forecast statistics from 2022-2029. To understand opportunities in the optical networking market, the market is segmented on the basis of component type, technology, service, and end user across seven major regions.
Key Segments Of Optical Networking Industry SurveyOptical Networking Market by Component :
- Optical Fibers
- Optical Switches
- Optical Amplifiers
- Optical Splitters
- Optical Transceivers
- Optical Circulators
Optical Networking Market by Technology :
- Fiber Channels
Optical Networking Market by Service :
- Network Design
- Data Centre
- Network Maintenance and Support
Optical Networking Market by End User :
- Military & Defense
- IT & Telecom
Optical Networking Market by Region :
- North America Optical Networking Market
- Latin America Optical Networking Market
- Europe Optical Networking Market
- East Asia Optical Networking Market
- South Asia & Pacific Optical Networking Market
- Middle East & Africa (MEA) Optical Networking Market