The global optical networking market will reach a valuation of US$ 24 Bn in 2029, witnessing a steady growth outlook during the forecast period (2019 - 2029). According to a new study of Future Market Insights (FMI), the market for optical networking is largely influenced by the imminent onset of Internet of Things (IoT), 5G, and Big Data technologies in multiple end-use sectors, for better speed, lower latency, and more efficient data management.
"Optical networking providers can gain significant profits by including private line services, Data Center Interconnect (DCI) networks, cable distributed access architectures, mobile transport, and metro optical. In house consistent DSP design continues to be a preferred strategy of key players," reveals the FMI report.
Key Research Findings of FMI's Optical Networking Market Study
- Demand for fiber channels is projected to display an impressive growth rate through 2029.
- Wavelength-division multiplexing (WDM) would hold a major market share.
- Network design services will remain highly sought-after among consumers.
- Optical fiber will continue to hold control over a major market share through the end of forecast period.
- North America will remain the key market for optical networking services and solutions providers.
Key Growth Drivers - Optical Networking Market
- The rapid rise of 5G in the IT and telecom industries is the key driver for optical networking market.
- Automated and software-enabled reconfigurable optical drop/add multiplexers are witnessing substantial demand from companies, with low capital cost benefit.
- Increasing application in manufacturing, government, submarines, aerospace, defense, transport, and mining will sustain demand.
- Rapid infrastructural developments in emerging economies generate lucrative opportunities for market players.
Key Impediments - Optical Networking Market
- High energy consumption is a key challenge faced by several optical networking market players.
- Issues with switching throughput, transmission rate, and spectrum efficiency continue to challenge the growth of this nascent industry.
Competition Structure Analysis - Optical Networking Market
The competition landscape of optical networking market remains moderately fragmented and competitive. Key players are also pushing for connections with better scalability, efficient service agility, and automated software driven services, for high capacity performance at low cost and power requirements. This will drive up the adoption of high-speed analogue circuits.
Some of the key players in the optical networking market include, but are not limited to Huawei, JDS Uniphase Corporation, Alcatel Lucent, Ciena, Verizon, and Cisco.
Press Release Source: https://www.accesswire.com/577976/Optical-Networking-Market-to-Reach-US-24-Bn-in-2029-5G-Applications-to-Accelerate-Demand-Future-Market-Insights
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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