According to projections, the packet optical networking market would increase from US$ 21 billion in 2020 to US$ 92 billion by 2031, with a predicted CAGR of 21.0% for the forecast period of 2021-2031. A framework called packet optical networking enables service providers to provide unmatched ethernet services to both residential and commercial internet users.
The services provided by packet optical networking are the most efficient and affordable. The progression from the multi service provisioning platform and reconfigurable optical add-drop multiplexer (ROADM) to the packet optical networking is natural (MSPP).
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Numerous service providers and equipment manufacturers are using the technology as the basis for their next-generation networks.
What is Driving Demand for Packet Optical Networking Market?
The use of social media, online gaming, video chatting, and many other online streaming events is growing, which has prompted packet optical networking to become more popular. Global packet optical networking equipment is predicted to grow as a result of the increase in demand for a higher bandwidth.
The market for packet optical networking is expanding quickly thanks to advances in wireless networking and mobile devices. One of the things that is causing packet optical networking to expand globally is the fact that it provides faultless data delivery and eliminates latency problems.
The deployment of 100G system has gained real traction with the demand of higher bandwidth as the announcement has been already made by enterprises, service providers and vendors. Financial companies and government companies are spending a good amount of money for the implementation of packet optical networking technology.
The continuous demand for higher bandwidth has been seen in these industries. This one of the factor augmenting the growth of packet optical networking technology globally.
What are the Key Trends for Packet Optical Networking Market?
The wireless infrastructure is growing at a higher rate, this is the reason 5G is also evolving. The technology of 5G network has the potential to offer 25 to 45 times faster speed as compared to 4G technology. According to the forecast of Cisco, average 11 GB traffic per month will be generated by smartphones by 2022. This is 4.5 times more than average of 2 GB per month in 2017.
This is one of the trend, which is creating huge opportunities for the optical transport network market globally.
There has been performance improvements offered by the technology of 5G, which is further considered a key element in the expansion of the Internet of Things (IoT). 5G technology is playing an important role in providing the speed and reliability to new applications, including virtual reality (VR) and autonomous vehicle management.
Europe Demand Outlook for Packet Optical Networking Market
The Europe region is going to hold a significant share of the packet optical networking technology market from 2020 to 2031. The reason behind this the presence of major solution providers in the region. The region has been on the forefront of leading the telecom and internet penetration, globally.
Internet data traffic continuous to rise and the business in the Europe region have a continuous demand of higher bandwidth. Hence, due to advancements in mobile communication technologies and the growth in mobile subscribers, the demand for packet optical networking technology continues to grow.
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Who are the Key Packet Optical Networking Market Vendors?
Some of the leading vendors of packet optical networking include
- ADTRAN
- ADVA Optical Networking
- Alcatel- Lucent
- Aliathon Technology
- Ciena
- Cisco
- Fujitsu
- Huawei
- Infinera
- ZTE and others.
The companies involved in the services and solutions of packet optical networking are focusing on new product launches, strategic expansions, acquisitions, product enhancements.
Key Segments
By Technology:
- WDM
- DWDM
By Service:
- Network Maintenance and Support
- Network Design
By End-use Industry:
- IT & Telecom
- Government
- Healthcare
- Others
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