Optical Networking and Communications Market Analysis - Likely To Grow Further
The optical networking and communications market is likely to grow at around 10.6% CAGR by 2020. Optical fibers are used to transfer data through light or infrared signals. They have many benefits over conventional copper wires, like speed, resistance, bandwidth, distance and maintenance.
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The primary factors driving the optical networking and communications market are growing demand for 40GbE and 100GbE, adoption of cloud based services and rising datacenter uses. However, high costs in the installation of optical networking and communications and lack of product knowledge are predicted to hamper the market over the coming years.
The optical networking and communications market can be segmented into technologies, hardware, applications and geographies. On the basis of technologies, the market can be divided into fiber channel, SONET (synchronous optical networking) and WDM (wavelength-division multiplexing).
The hardware market can be segregated into optical amplifiers, optical switches, optical fiber, fiber optic circulation, optical splitters, fiber optic sensors and optical transceivers. The applications optical networking and communications market can be fragmented into mining, oil & gas, aerospace & defense, transportation, healthcare, telecom, manufacturing and energy & utilities.
Geographically, the optical networking and communications market is segmented into four major regions, including North America, Europe, Asia Pacific and ROW (Rest of the world). Europe was reported to be the largest market in terms of revenue. It dominated over the other regions of North America and Asia Pacific.
North America and Asia Pacific are expected to show significant growth. This is as a result of the rising consumption of optical fibers in various consumer applications, like telecom, defense, healthcare, etc. Increased demand for the optical networking and communications market in Asia Pacific owes to developing regions, China India and Japan.
Optical Networking and Communications Market Analysis
Information Source: Grand View Research
Posted on Apr 2, 2015 | Category Technology