portland.or, March 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global optical communication and networking equipment market generated $15.72 billion in 2019, and is estimated to reach $26.83 billion by 2027, witnessing a CAGR of 7.2% from 2020 to 2027. The report offers a detailed analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Increase in data traffic with rising internet usage, surge in adoption of cloud-based and virtualization services, and rise in demand for advanced network equipment drive the global optical communication and networking equipment market. However, requirement of massive initial investment hinders the market growth. Contrarily, increase in deployment of LTE, VoIP, and 5G networks and rise in adoption of AI and IoT create lucrative opportunities in the coming years.
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Covid-19 Scenario
- The demand for optical communication and networking equipment increased significantly during the lockdown imposed to curb the spread of Covid-19. This is due to rise in need of network establishment for work from home and remote working situations that occurred during the pandemic.
- However, manufacturing activities of different types of equipment hindered due to close down of facilities and disruptions in the supply chain. However, these activities resumed during the post-lockdown and supply chain restored. The supply-demand gap is expected to reduce.
The report offers detailed segmentation of the global optical communication and networking equipment market based on component, technology, industry vertical, and region.
Based on component, the transceiver segment held around one-third of the total market share in 2019, and is expected to maintain its lead position throughout the forecast period. However, the optical fiber segment is estimated to portray the highest CAGR of 8.1% from 2020 to 2027.
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Based on technology, the WDM segment accounted for nearly half of the global optical communication and networking equipment market in 2019, and is expected to continue its dominance by 2027. In addition, this segment is expected to maintain the fastest CAGR of 7.7% from 2020 to 2027. The research also analyzes the segments including SONET and fiber channel.
Based on region, Asia-Pacific, followed by North America, contributed to the largest market share in 2019, holding more than half of the total market share, and is estimated to maintain its leadership status by 2027. However, Europe is expected to maintain the largest CAGR of 8.9% from 2020 to 2027.
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Leading players of the global optical communication and networking equipment market discussed in the research include Arista Networks, Inc., Ericsson, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Fujitsu Optical Components Limited, Mitsubishi Electric, Juniper Networks, Inc., Nokia Corporation, NEC Corporation, and ZTE Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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