Optical Communication Systems and Networking Market to Worth USD 56.22 Billion by 2030 | With 8.6% CAGR
Key companies covered in optical communication systems and networking market are Huawei Technologies Co. Ltd. (China), Corning Incorporated (U.S.), Ciena Corporation (U.S.), Nokia (Finland), Cisco Systems Inc. (U.S.), Fujitsu (Japan), ADVA Optical Networking SE (Germany), NEC Corporation (Japan), Infinera Corporation (U.S.), and Juniper Networks Inc. (U.S.), and more players profiled
Pune, India, May 15, 2023 (GLOBE NEWSWIRE) — The global optical communication systems and networking market size was valued at USD 29.47 billion in 2022 and is predicted to reach USD 31.63 billion in 2023. The market is anticipated to touch USD 56.22 billion by 2030, recording a CAGR of 8.6% during the forecast period of 2023-2030.
Optical communication systems and networking refers to transferring information from one source to the other by using light as a signal carrier. The information is converted into an optical signal with the help of a Light-emitting Diode (LED) or laser diode and transmitted through an optical fiber cable to achieve high-speed data transmission rate over long distances. The robust need for high-speed internet connection is predicted to boost the optical communication systems and networking market growth.
Fortune Business Insights™ presents this information in a report titled, “Global Optical Communication Systems and Networking Market, 2023-2030.”
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LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT:
- Huawei Technologies Co. Ltd. (China)
- Corning Incorporated (U.S.)
- Ciena Corporation (U.S.)
- Nokia (Finland)
- Cisco Systems Inc. (U.S.)
- Fujitsu (Japan)
- ADVA Optical Networking SE (Germany)
- NEC Corporation (Japan)
- Infinera Corporation (U.S.)
- Juniper Networks Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.6% |
| 2030 Value Projection | USD 56.22 Billion |
| Market Size in 2023 | USD 31.63 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Optical Communication Systems and Networking Market Growth Drivers | Rising Adoption of 5G Networks is Expected to Propel Market Share |
| Expansion of Data Centers Projected to Boost Optical Communication Systems and Networking Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/optical-communication-systems-and-networking-market-106620
COVID-19 Impact:
COVID-19 Pandemic Boosted Product Demand Due to Rising Remote Work Culture
The COVID-19 pandemic played a vital role in expanding the market size as the outbreak increased the demand for digitization and remote work. This surged the demand for data-intensive applications and services and improved the usage of optical communication systems and networking services. These services offer reliable and high-speed data transfer over long distances.
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Segmentation:
Growing Demand for Compact and Energy-Efficient Transceivers Will Boost Deployment of Optical Transceivers
Based on component, the market is segmented into optical fibers, optical transceivers, optical amplifiers, optical switches, optical circulators, and others. The optical transceiver segment is predicted to dominate the market share during the forecast period because of rising demand for compact and energy efficient transceivers.
Robust Need for Effective Communication and High Capacity Network Will Enhance Usage of WDM Technology
In terms of technology, the market is bifurcated into WDM, SONET/SDH, fiber channel, and others. The Wavelength-Division Multiplexing (WDM) segment held a dominant market share and is anticipated to record the fastest CAGR during the forecast period as end-users are looking for technologies that facilitate effective communication and offer high-capacity network.
BFSI Sector to Boost Product Deployment Due to Growing Demand for High-speed Data Transfer Technologies
By vertical, the market is divided into BFSI, IT & telecom, government and aerospace & defense, healthcare, and energy & utilities. The BFSI segment held a dominant position in the market as the demand for high-speed data transfer technologies is rising across the sector.
40-100 GBPS Data Range Will Witness Wide Usage in Several Applications
In terms of data range, the market is segmented into up to 40 GBPS, 40 to 100 GBPS, and >100 GBPS. The 40 to 100 GBPS segment captured a major market share as this data range is being widely used in many applications, especially during the post-pandemic period.
Report Coverage:
The report offers an in-depth analysis of the market. It covers major aspects, such as R&D capabilities and optimizing operating services. The report also provides important insights into the latest market trends and competitive landscape, and underlines key developments in the industry. Apart from the above-mentioned factors, the report focuses on many factors contributing to the market growth.
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Drivers and Restraints:
Growing Adoption of 5G Networks to Boost Market Expansion
5G networks are being widely adopted across the world as the demand for high-speed and low-latency connectivity has risen considerably. 5G networks offer these advantages, which is why they are being widely used in several critical applications, such as synergistic AI, fixed-mobile substitution, autonomous vehicles, VR & AR, cloud gaming, healthcare, and video surveillance. These factors will boost the deployment of 5G networks, thereby increasing the optical communication systems and networking market share.
However, rising security concerns, high installation costs, and stiff competition from wireless communication technology providers may hinder the market growth.
Regional Insights:
Asia Pacific to Lead the Market Share Due to Growing Presence of OEMs
Asia Pacific captured the largest share in the global market in 2022 and is predicted to be the fastest growing region during the forecast timeline. This growth can be credited to the growing presence of OEMs in the region and rising investments in R&D programs to develop next-gen communication technologies, such as fiber-optic communication systems and 5G. The regional market is also projected to record the fastest CAGR during the forecast period.
Competitive Landscape:
Key Companies to Focus On Product Innovations and Technological Advancements to Maintain Their Dominance
The market contains key players, such as Huawei Technologies Co. Ltd., Corning Incorporated, Ciena Corporation, Nokia, Cisco Systems Inc., Adva Optical Networking SE, and others. These companies are introducing technological innovations and advanced product versions to expand their presence in emerging markets. In June 2021, Corning Incorporated introduced Corning SMF-28® Contour optical fiber which helps in aiding telecom operators in addressing the ever-expanding number of connected devices, build-out of 5G networks, and improvements in cloud computing.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Impact of the COVID-19 pandemic on the Global Optical Communication Systems and Networking Market
- Global Optical Communication Systems and Networking Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Definition
- Market Analysis, Insights and Forecast – By Components
- Optical Fiber
- Optical Transceivers
- Optical Amplifiers
- Optical Switches
- Optical Circulators
- Others
- Market Analysis, Insights and Forecast – By Technology
- WDM
- SONET/SDH
- Fiber Channel
- Others
- Market Analysis, Insights and Forecast – By Data Range
- Up to 40 GBPS
- 40 to 100 GBPS
- > 100 GBPS
- Market Analysis, Insights and Forecast – By Vertical
- IT & Telecom
- BFSI
- Government and Aerospace & Defense
- Healthcare
- Energy & Utilities
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- Rest of the World
- North America Optical Communication Systems and Networking Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Components
- Optical Fiber
- Optical Transceivers
- Optical Amplifiers
- Optical Switches
- Optical Circulators
- Others
- Market Analysis, Insights and Forecast – By Technology
- WDM
- SONET/SDH
- Fiber Channel
- Others
- Market Analysis, Insights and Forecast – By Data Range
- Up to 40 GBPS
- 40 to 100 GBPS
- > 100 GBPS
- Market Analysis, Insights and Forecast – By Vertical
- IT & Telecom
- BFSI
- Government and Aerospace & Defense
- Healthcare
- Energy & Utilities
- Others
- Market Analysis – By Country
- The U.S. (By Vertical)
- Canada (By Vertical)
- Market Analysis, Insights and Forecast – By Components
- Market Drivers
- Market Restraints
- Market Opportunities
TOC Continued…!
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Key Industry Development:
March 2023 – U.S.-based telecom equipment manufacturer Infinera Corporation achieved a single-wavelength transmission of 400-gigabits-per-second (400GPS) over a distance of 2,400 kilometers. The company used its ICE-X 400G QSFP-DD intelligent coherent pluggable solution on Corning’s TXF optical fiber to achieve this transmission speed.
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