Witnessing a robust CAGR between 2022 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.
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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.
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.
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.
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Key Segments Of Optical Networking Industry Survey
Optical Networking Market by Component :
- Optical Fibers
- Optical Switches
- Optical Amplifiers
- Optical Splitters
Optical Networking Market by Technology :
- SONET
- WDM
- Fiber Channels
Optical Networking Market by Service :
- Network Design
- Data Centre
- Network Maintenance and Support
Optical Networking Market by End User :
- Military & Defense
- BFSI
- IT & Telecom
- Government
- Others
Optical Networking Market by Region :
- North America Optical Networking Market
- Latin America Optical Networking Market
- Europe Optical Networking Market
- East Asia Optical Networking Market
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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