The global optical switches market is anticipated to generate US$ 6239 million in revenue in 2022 and US$ 16762 million by 2032, growing at a CAGR of 10.4% during the projected period (2022-2032).
High data transfer rates are increasingly needed as more advanced technologies, such as connected homes, smart appliances, and the Internet of Things, are being adopted. Revenue generation from equipment like optical switches, which help to boost gearbox speed, will continue to expand as demand rises.
Networking hardware called optical switches is positioned in between fibres. In addition to aiding in signal transmission, they also work to route the signals in the proper direction to the following switch. As a result, optical switches are a very useful tool in the field of networking and the optical switches market is anticipated to witness healthy CAGR in near future.
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Global Optical Switches Market: Market Dynamics
Rising demand for high bandwidths and high data transfer rates with increasing data traffic, high scalability and flexibility, reduced energy consumption, and decreased floor space are the primary advantages offered by the use of optical switches, which is the major factor driving the growth of the market.
Also, data communication networks are continuously witnessing increased data traffic and hence require high speed but at the same time reliable data transmission. Optical switches offer both with substantial decrease in power consumption and more than 80% of floor space saving as compared to electrical switches.
Apart from this, rising adoption of new technologies, high amount of ongoing R&D and huge investment by various economies are other factors, driving the market. As a result, the market is anticipated to witness heavy growth rates in near future.
However, budget constraints, high costs involved and lack of awareness about optical switches are the primary reasons that can thwart the growth of Optical Switches market.
Global Optical Switches Market: Segmentation
Global Optical Switches market is segmented on the basis of technology and region.
On the basis of technology, the global Optical Switches market can be segmented into Mechanical Optical Switch, Liquid Crystal Optical Switch, Waveguide Optical Switch, Thermal Optical Switch, Magneto-Optical Switch and others.
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Key Development
In March 2015, DiCon Fiberoptics, launched optical switch. The switch fetaures a compact structuere, and allows 16 input and output fibres to connect in cross-connect configuration and a fully non-blocking mode.
Key Vendors
The key vendors in the global Optical Switches market are Agilent Technologies, Agiltorn Corp., Coriant, EMCORE Corporation, FUJITSU, HP Development Company, L.P., Huawei Technologies Co., Ltd., Luna Innovations Incorporated, DiCon Fiberoptics and NEC Corporation.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industries.
Key Segments
By Type:
- Electro-Optical Switches
- All-Optical Switches
By Application:
- Fiber Restoration
- Optic Component Testing
- Optical Switching
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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