Witnessing a robust CAGR between 2019 and 2029, the global optical networking market is poised to hit revenues of US$ 24 Bn towards the end of 2029. Adoption will be majorly driven by the arrival of fifth-generation (5G) wireless systems, as suggested by a new Future Market Insights (FMI) study. 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.
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.
Optical networking providers can gain significant profits by including private line services, Data Center Interconnect (DCI) networks, cable distributed access architectures, mobile transport, and metro optical. In-house consistent DSP design continues to be a preferred strategy of key players
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 2014-2018 and forecast statistics from 2019-2029. 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.