The global revenue from the optical networking market is approximately US$ 14 billion. The optical networking market is expected to experience significant growth, with a high CAGR of 8.4%. This growth will lead to a total market value of US$ 24.8 billion by 2029.
Optical networking is a communication network that uses optical fiber cables to transfer data between the transmitter and receiver. Because data traffic is transferred in light pulses across an optical fiber, it is one of the fastest networks for data communication.
The report opines that Asia Pacific, excluding Japan (APEJ), will remain a significant market for optical network providers, owing to strong growth prospects of 5G technology among mobile network operators in the region. 5G will rely on fiber as an advanced radio technology to deliver front haul for Cloud-RANs (radio access networks) and backhaul for dense, fast networks.
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In telecommunications networks, optical networking is a communication method that sends information using signals encoded in light. The most prevalent fiber-optic networks are mesh networks, communication networks, or ring networks, increasingly being used by metropolitan, regional, national, and international systems.
One of the major factors fueling the growth of the optical networking industry is the expansion of telecom infrastructure across developing nations.
Key Takeaways from the Optical Networking Market Report
- North America holds a significant revenue share in the global optical networking market through 2029.
- Network design service would remain sought-after in the global optical networking market.
- Optical fiber, as a preferred product, will continue to capture a significant market share throughout the forecast period.
- Demand for fiber channels is set to grow at an impressive CAGR through 2029. WDM (Wavelength-division multiplexing) is projected to continue to hold significant market share in the global optical networking market during the forecast period.
Increasing Demand for ROADM-based Optical Network to Propel Sales
Network providers are moving to more automated, software-driven, highly scalable connections that offer new cost savings and efficient service agility.
Growing demand for ROADM-based optical foundation depends on instrumented photonics, flexible, and Layer 0 software to control and scale the connection for maximum capacity at the lowest power, space, and cost per bit. Therefore, the introduction of high-speed analogue circuit is expected to drive the growth of the global optical networking market.
COVID-19 Impact on Optical Networking Demand
The COVID-19 pandemic has had a substantial impact on the optical networking market. The demand for residential, corporate, and industrial building automation systems has fallen as a result of lockdown measures and the halting of non-essential businesses.
On the other hand, the use of software-defined networking (SDN) makes optical communication networks, which include both fiber optic and optical wireless systems, more agile, programmable, and capable of providing flexible service solutions. The market for optical networking is expected to rise as a result of these innovations. As a result, the production and supply of optical networking equipment are returning to normal.
Competitive Landscape: Top market players in the worldwide optical networking industry use variety of methods such as product launches, product design, association, collaborations, and contracts. Market players are focusing on updating their optical networking technologies to achieve a market position.
For instance,
- SingleRAN Pro is designed by Huawei Technologies to broaden the Wireless First approach to cover more services and support operators in moving into new functional departments. SingleRAN Pro has new 5G capabilities such as a tenfold increase in network capacity, coverage, and improvement in user experience. The solution also included artificial intelligence (AI) to help networks run more smoothly.
Leading Key Companies:
- Huawei Technologies Co.
- Nokia
- Cisco
- Ciena
- ADTRAN
- Broadcom
- Fujitsu Optical Components
- Infinera
- ADVA Optical Networking
- NEC
- Juniper Networks
- Ericsson
- Corning
- Mitsubishi Electric
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Optical Networking Industry Segmentation:
By Component
- Optical Fibers
- Optical Switches
- Optical Amplifiers
- Optical Splitters
- Optical Transceivers
- Optical Circulators
By Technology
- SONET
- WDM
- Fiber Channels
By Service
- Network Design
- Data Centre
- Network Maintenance and Support
By End User
- Military & Defense
- BFSI
- IT & Telecom
- Government
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About the Author
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain
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