According to projections, the market for packet optical networking would increase from US$ 21 billion in 2020 to US$ 92 billion by 2031, with a predicted CAGR of 21.0% for the forecast period of 2021-2031. A framework called packet optical networking enables service providers to provide unmatched ethernet services to both residential and commercial internet users.
The most effective and economical services are those offered by packet optical networking. The progression of reconfigurable optical add-drop multiplexer (ROADM) and multi service provisioning platform to packet optical networking is logical (MSPP).
Numerous service providers and equipment manufacturers are using the technology as the basis for their next-generation networks.
What is Driving Demand for Packet Optical Networking Market?
There is an increase in use of social media, online gaming, video chatting, and many other online streaming events, this has led to the adoption of packet optical networking. The rise in demand for a new level of bandwidth is anticipated to drive the growth of global packet optical networking equipment.
Rapid increase in the number of mobile devices and wireless networking technologies is helping the packet optical networking market to grow. Packet optical networking technology is offering flawless data transmission and removes latency issues, which is one of the factor driving the growth of packet optical networking globally.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13359
The deployment of 100G system has gained real traction with the demand of higher bandwidth as the announcement has been already made by enterprises, service providers and vendors. Financial companies and government companies are spending a good amount of money for the implementation of packet optical networking technology.
The continuous demand for higher bandwidth has been seen in these industries. This one of the factor augmenting the growth of packet optical networking technology globally.
What are the Key Trends for Packet Optical Networking Market?
The wireless infrastructure is growing at a higher rate, this is the reason 5G is also evolving. The technology of 5G network has the potential to offer 25 to 45 times faster speed as compared to 4G technology. According to the forecast of Cisco, average 11 GB traffic per month will be generated by smartphones by 2022. This is 4.5 times more than average of 2 GB per month in 2017.
This is one of the trend, which is creating huge opportunities for the optical transport network market globally.
There has been performance improvements offered by the technology of 5G, which is further considered a key element in the expansion of the Internet of Things (IoT). 5G technology is playing an important role in providing the speed and reliability to new applications, including virtual reality (VR) and autonomous vehicle management.
Europe Demand Outlook for Packet Optical Networking Market
The Europe region is going to hold a significant share of the packet optical networking technology market from 2020 to 2031. The reason behind this the presence of major solution providers in the region. The region has been on the forefront of leading the telecom and internet penetration, globally.
Internet data traffic continuous to rise and the business in the Europe region have a continuous demand of higher bandwidth. Hence, due to advancements in mobile communication technologies and the growth in mobile subscribers, the demand for packet optical networking technology continues to grow.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-13359
Who are the Key Packet Optical Networking Market Vendors?
Some of the leading vendors of packet optical networking include
- ADTRAN
- ADVA Optical Networking
- Alcatel- Lucent
- Aliathon Technology
- Ciena
- Cisco
- Fujitsu
- Huawei
- Infinera
- ZTE and others.
The companies involved in the services and solutions of packet optical networking are focusing on new product launches, strategic expansions, acquisitions, product enhancements.
Key Segments
By Technology:
- WDM
- DWDM
By Service:
- Network Maintenance and Support
- Network Design
By End-use Industry:
- IT & Telecom
- Government
- Healthcare
- Others
Request Complete TOC @ https://www.futuremarketinsights.com/toc/rep-gb-13359
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com