Optical Communication and Networking Market Worth 24.12 Billion USD by 2023
Friday, October 13, 2017
PUNE, India, October 13, 2017 /PRNewswire/ --
According to the new research report "Optical Communication and Networking Market by
Component (Fiber, Transceiver, Amplifier, Switch, Splitter, Circulator), Technology (WDM,
SONET, and Fiber Channel), Application (Telecom, Data Center, and Enterprise) and
Geography - Global Forecast to 2023", published by MarketsandMarkets(TM), the market is
expected to grow from USD 15.11 billion in 2017 to USD 24.12 billion by 2023, at a CAGR of
8.1% between 2017 and 2023. The growth of this market is driven by the growing data center
deployments, and increasing internet penetration and data traffic.
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Browse 65 Market Data Tables and 50 Figures spread through 165 Pages and in-depth TOC
on "Optical Communication and Networking Market - Global Forecast to 2023"
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Optical communication and networking market for optical transceivers to grow at the
highest CAGR during forecast period
The optical communication and networking market for optical transceivers is expected
to grow at the highest CAGR during the forecast period owing to the introduction and
adoption of new applications such as wearable devices, IoT, and cloud computing to address
the evolving consumer needs. The increasing internet penetration and growing data traffic
lead to the rapid growth of data centers along with the need for high-speed transmission
networks. Optical transceivers are used to upgrade telecommunications networks and launch
very large mega data centers.
Optical communication and networking market for the data center application to grow at
the highest CAGR during forecast period
This market for the data center application is expected to grow at the highest CAGR
between 2017 and 2023 owing to the mainstream adoption of cloud computing and the growing
use of the Internet by smartphones and other connected devices. There is a rapid increase
in internet traffic going through mega data centers. Mega data centers are operated
primarily by leading companies, such as Amazon (US), Apple (US), Facebook (US), Google (US)
, and Microsoft (US). They have steadily increasing investments in very large data centers
as they implement cloud-based Big Data services that can be crowd-sourced and
crowd-distributed and that use machine-to-machine and inter-datacenter transactions to
power the mobile web.
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The Americas to hold the largest share of the optical communication and networking
market during the forecast period
The Americas held the largest share of the market in 2016 and is expected to dominate
the market with the largest share between 2017 and 2023. The Americas has emerged as a
major data center and cloud computing hub, which has ultimately made it the largest
consumer of optical communication and networking since data center is the leading
application for this market.
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The major players in the optical communication and networking market are Huawei
Technologies Co. (China), Nokia (Finland), Cisco (US), Ciena (US), ADTRAN (US), ZTE (China)
, Broadcom (US), Finisar (US), Fujitsu Optical Components (Japan), Infinera (US), ADVA
Optical Networking (Germany), NEC (Japan), Juniper Networks (US), Ericsson (Sweden),
Corning (US), and Coriant (US). The key innovators in the market are Lumentum Operations
(US), Calix (US), Oclaro (US), Arista Networks (US), NeoPhotonics (US), Mitsubishi
Electric (Japan), and ECI Telecom (Israel).
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