New York, April 26, 2023 (GLOBE NEWSWIRE) -- According to the research report titled "Global Optical Communication and Networking Equipment Market" released by Reports Insights, the market had a valuation of USD 18.02 Billion in 2022. The report further predicts that the market will grow at a Compound Annual Growth Rate (CAGR) of 7.68%, and is expected to reach a value of USD 31.90 Billion by 2030.
Optical communication and networking equipment is a device used to transmit data across a telecommunication network by utilizing signals encoded light. Optical networking involves WAN and LAN to facilitate interconnectivity across the network. The networking equipment involves various components including transceiver, optical amplifiers, and others.
The rising demand for internet connectivity due to growing requirement of internet access for personal and business need is driving the growth of the optical communication and networking equipment market. The advancement of technologies including artificial intelligence, IoT, and big data analytics has increased the demand for connected devices and smart devices resulting in a rise the growth of the optical communication and networking equipment market.
Furthermore, transceiver manufacturers are focusing on the development of applications in the metro network, long haul applications, data center interconnect and others. Thus, rising demand for compact-sized transceivers is driving the demand of the optical communication and networking equipment market.
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Global Optical Communication and Networking Equipment Market Segmentation Details:
Based on Component, the transceiver segment accounted major market share in the year 2022 due to the rising demand for compact-sized transceivers. Additionally, the increasing implementation of cloud computing and increased use of the internet is driving the growth of transceivers in the optical communication and networking equipment market. Thus, owing to the above-mentioned trends the market is anticipated to grow.
Based on Technology, Wavelength Division Multiplexing (WDM) technology holds a major market share for the year 2022 due to the rising use of high-speed internet. Additionally, the increasing adoption of connected devices for residential and commercial buildings is propelling the growth of WDM technology in optical communication and networking equipment market.
Based on End User, the healthcare segment is expected to grow during the forecast period due to the increasing adoption of advanced technologies including IoT and artificial intelligence for medical devices, diagnosis, treatment, and others. Thus, the adoption of digitalization for secure networking is propelling the growth of the healthcare industry which in turn propels the optical communication and networking equipment market.
Based on region, the Asia Pacific region is projected to grow during the forecast period due to technological developments and rapid digitalization in developing countries including China and India. Additionally, the development of 5G technology is promoting the growth of the optical communication and networking equipment market in the Asia Pacific region.
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Optical Communication and Networking Equipment Market Report Coverage:-
| Report Attributes | Report Details |
| Market Size By 2030 | USD 31.90 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 7.68% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Cisco System Inc., Nokia, Huawei Technologies Co. Ltd., ZTE Corporation, Ciena Corporation, ADVA Optical Networking, Infinera Corporation, FUJITSU, FiberHome, NEC Corporation, ADVA Optical Networking |
| By Component | Optical Fiber, Switch, Transceiver Others, and Others |
| By Technology | SONET, WDM, and Fiber Channel |
| By End User | BFSI, IT & Telecom, Healthcare, Retail, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
Key Market Highlights
- The Global Optical Communication and Networking Equipment Market size is estimated to exceed USD 31.90 billion by 2030 and grow at a CAGR of 7.68% during the forecast period (2023-2030).
- Globally, Optical Communication and Networking Equipment are divided based on the Component into Optical Fiber, Switch, Transceiver, Others, and Others.
- In the context of Technology, the market is separated SONET, WDM, and Fiber Channel.
- On the basis of End User, the market is categorized into BFSI, IT & Telecom, Healthcare, Retail, and Others.
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
- North America and Asia Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Optical Communication and Networking Equipment.
Recent Developments
- In March 2022, ADVA Optical Networking introduced a pluggable MicroMux Edge BiDi device with four independent and bidirectional 10GbE optical interfaces, to enable the operator to enhance the capacity and fix the fiber limitation in the access network.
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List of Major Global Optical Communication and Networking Equipment Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
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- Cisco System Inc.
- Nokia
- Huawei Technologies Co. Ltd.
- ZTE Corporation
- Ciena Corporation
- ADVA Optical Networking
- Infinera Corporation
- FUJITSU
- FiberHome
- NEC Corporation
- ADVA Optical Networking
Global Optical Communication and Networking Equipment Market Segmentation:
- By Component
- Optical Fiber
- Switch
- Transceiver
- Others
- By Technology
- SONET
- WDM
- Fiber Channel
- By End User
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Others
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