Market Analysis
The global optical communication market will touch USD 24 billion at a 9% CAGR in the forecast period (2020- 2027), states the latest Market Research Future’s (MRFR) optical communications market forecast report.
Drivers
Increased Need for Advanced Network Equipment due to COVID-19 to Boost Market Growth
The increasing demand for advanced network equipment owing to COVID-19 pandemic will boost market growth over the forecast period.
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Opportunities
Growing Number of Data Centers Worldwide to offer Robust Opportunities
The growing number of data centers across the world will offer robust opportunities for Optical Communication Market over the forecast period. This depends on interconnects to deliver critical communications, computation, connectivity among numerous servers, and memory resources. The explosive growth of IP traffic and growth of cloud computing is also driving the number of data centers across the globe.
Restraints
Massive Installation Costs to act as Market Restraints
The massive installation costs may act as a market restraint over the forecast period.
Challenges
Threat of Data Signal Leakage to act as Market Challenge
The threat of leakage of data signals may act as a market challenge over the forecast period.
COVID-19 Analysis
The demand for optical communication and networking equipment increased during the lockdown imposed for curbing the spread of the virus. This is owing to the need for network establishment for work from home and remote working situations that occurred during the pandemic. Manufacturing activities however of different types of equipment hindered due to closing down of facilities and supply chain disruptions. These activities however resumed during the post lockdown and supply chain restored. The gap between supply & demand is likely to reduce.
Market Segmentation
The global optical communications system market is segmented based on components, technology, applications, and end user.
By components, the optical transceivers segment will lead the market over the forecast period.
By technology, the wavelength division multiplexing segment will dominate the market over the forecast period.
By applications, the data center will spearhead the market over the forecast period.
By end users, the IT and telecommunications segment will have the lions share in the market over the forecast period.
Regional Analysis
North America to Command Optical Communications Market
North America will command this market over the forecast period. Higher demand for different sectors like telecommunications, healthcare, and aerospace, the presence of leading companies offering optical communication solutions to improve signal processing functions, changing market trends and emerging opportunities, huge demand for communications, photonics, signal processing, and electronics, high concentration of data centers and cloud computing hubs in the US, and the top mega data centers located in the US are adding to the global optical communications market growth in the region.
APAC to Have Favorable Growth in Optical Communications Market
The APAC region will have favorable growth in the market over the forecast period. The region being a major hub for consumer electronics, industrial verticals, and automotive, the region having upgraded their connectivity solutions from 3G to 4G technology, the market encouraging the development of 5G mobile technologies with commercial deployments planned in China and Japan by 2020, increasing adoption of smartphones, increase in internet users, the growing need for connectivity, and rising focus on improving existing networks and establishing new connectivity networks are adding to the global optical communications market growth in the region.
Key Players
Eminent players profiled in the global optical communications market report include Verizon Communications (US), AT&T Inc. (U.S), Maxim Integrated (U.S), Vodafone Group PLC (UK); Deutsche Telekom AG (Germany), Telefonica, S.A (Spain), Orange (France), Telkom SA SOC Ltd. (South Africa), Telstra Corporation Ltd. (Australia), Singapore Telecommunications Limited (Singapore), Hetzner Online GmbH (Germany), and among others.
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