Pune, India, Dec. 08, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global optical communication and network equipment market size was worth USD 13.65 billion in 2020 and is expected to register a CAGR of 7.06% during 2021-2028, thereby accumulating USD 23.57 billion in the end of the forecast duration.
The research document also analyzes the overall size and scope of the marketplace by individually examining the various segments and sub segments. Furthermore, it includes a granular analysis of the geographical landscape and competitive arena, enlisting major market players as well as the potential entrants. Lastly, it also incorporates several suggestions to help businesses in charting effective expansion strategies.
Increasing adoption of cloud based and visualization service in several sectors, escalating demand for IoT solutions, and surging number of optical data centers are fueling market growth. In addition, rising trend of using higher bandwidth devices and growing requirement for 5G infrastructure are augmenting industry outlook.
On the contrary, rising network complexities and need for higher initial investment are likely to hamper global optical communication and network equipment market.
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Elaborating on the geographical landscape
Regions like North America, Europe, Middle East & Africa, Asia Pacific, and Latin America are considered to understand the dynamics of this business sphere.
North America
North America optical communication and network equipment industry is projected to exhibit a CAGR of 7.72% over 2021-2028 owing to increasing innovation in the field, high number of deep water cables, and presence of long-haul fiber optic networks in the region. The studied market’s growth is mainly owing to the high concentration of data centers and cloud computing in the region. Moreover, the rising evolution of the IT sector is adding to the market’s growth across the US and Canada. As per estimates, the region is leading in the 5G infrastructure, with wireless carriers providing 5G services. Besides, the presence of key players opens new avenues for the optical communication and network equipment market. In the United States, there is a growing requirement for higher capacity fiber optic networks for mobile and fixed telephone services due to the expansion of fiber optic networks infrastructure. Major companies in the country include Verizon, Birch, and Frontier, which are adding to the studied market’s robust growth.
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Europe
Europe optical communication and network equipment market is poised to expand with a CAGR of 8.71% over the study period creditable to ongoing technological innovation, strategic collaborations among industry majors towards the development of optical network, and favorable government initiatives. The region is anticipated to witness the fastest growth over the forecasted period. This growth can be attributed to the rising spending by telecommunication carriers on optical equipment, owing to the surging demand for broadband connections. Furthermore, the European Commission’s adoption of the 5G action plan significantly adds to the studied market’s progress. Above all, the presence of key players such as Nokia, Ericsson, and others, is likely to fuel the expansion of the optical communication and network equipment market across the region in the upcoming years.
Alcatel Lucent Enterprise is involved in delivering digital age networking, communication, and cloud solutions. The company provides unified communications applications, phones and devices, platforms, security products, and network management solutions, among others. It also offers contract checker, customization, supports, and education services. Alcatel Lucent serves clients across various regions, with headquarters located in Paris, France.
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Asia Pacific
Asia Pacific optical communication and network equipment industry is slated to expand with a CAGR of 6.51% through 2028. This can be ascribed to increasing number of government initiatives to develop better technologies to meet future data transmission needs. Besides, high adoption of IoT and availability of high-resolution videos that is driving operators to develop networks with higher bandwidths is further adding to regional market progression. The region is a major hub for consumer electronic, automotive, and industrial verticals. Moreover, it has emerged as a global central point for substantial investments and business expansions. Several users have updated their connectivity solutions from 3G to 4G technology, with 5G infrastructure and data centers under development. This adds to the studied market’s progress in the upcoming years. Furthermore, the fiber connectivity in Southeast Asia is likely to undergo upgradation. Recently, the group of Asia-Pacific network operators signed a contract with NEC Corporation to construct a high-performance submarine connecting other countries, including China, Japan, and South Korea. Hence, all these developments are estimated to supplement the growth of the optical communication and network equipment market across the APAC region.
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Latin America
The Latin American optical communication and network equipment market is estimated to record a CAGR of 5.56% during 2021-2028 accreditable to strategic decisions taken by key players to expand their offerings and deploy advanced fiber-to-home networks in the region. The region holds the possibilities of expansion for FTTH deployment. This is primarily because governments and service providers are identifying new ways to support the FTTH network’s growth. Initially, fiber optic networks were restricted to the healthcare sector and some other businesses. However, ever since the rise in internet penetration, the fiber optic roll-outs have been multiplied. Further, several international companies are transforming the optical network equipment sector, significantly adding to the optical communication and network equipment market’s growth.
NEC Corporation is among the leaders in the integration of IT and network technologies that aim to benefit companies and individual clients globally. Its advanced technologies aim to meet the complex and changing requirements of its customers. The company’s product portfolio includes electrodes, energy management systems, utility solutions, mobile phones, optical transceivers, and others. NEC has operations spread across various countries, including Latin American nations.
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Global Optical Communication And Network Equipment Market, By Components Type (Revenue, USD Million, 2021-2028)
- Switch
- Optical Fiber
- Transceiver
- Other Components
Global Optical Communication And Network Equipment Market, By Technology type (Revenue, USD Million, 2021-2028)
- WDM
- Sonet
- Fiber Channel
Global Optical Communication And Network Equipment Market, By Industry Verticals (Revenue, USD Million, 2021-2028)
- IT & Telecom
- Oil & Gas
- BFSI
- Military & Defense
- Medical & Healthcare
Global Optical Communications And Network Equipment Market, Regional Analysis (Revenue, USD Million, 2021-2028)
North America
- United States
- Canada
Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Russia
- Sweden
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN Countries
- Australia & New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- Turkey
- South Africa
- Rest of Middle East & Africa
Global Communication And Network Equipment Market Competitive Arena (Revenue, USD Million, 2021-2028)
- ZTE Corporation
- Telefonaktiebolaget LM Ericsson
- Ribbon Communications US LLC
- Nokia Corporation
- NEC Corporation
- Mitsubishi Electric Corporation
- Juniper Networks Inc.
- Infinera Corporation
- Huawei Technologies Co. Ltd.
- Fujitsu Optical Components Limited
- Cisco Systems Inc.
- Ciena Corporation
- Arista Networks Inc.
- Alcatel-Lucent Enterprise
- ADTRAN Inc.
Related Report:
Optical Communication and Networking Market Share & Forecast, 2021 - 2027
The optical communication and networking market is expected to witness exponential growth by 2027 primarily owing to soaring requirement for robust internet connectivity across the globe. Optical networking uses light to transmit data at high speed over fiber cables, which is ideal for low-latency middle-mile connections spanning long distances. Optical communication entails the use of light to carry signals to the remote end as opposed to electric current employed in conventional communication methods. In an optical network, fiber cables are made of a core that is encased in glass cladding to keep light inside the cable. Optical networks enable communication to distant data centers and other data sources at a rapid pace. With the global need for internet connectivity, optical networking is vital to help users access servers in different parts of the world. The use of optical networking for connection in large-scale data centers has played a key role in product penetration worldwide. The optical communication and networking market from the energy & utilities sub-segment is anticipated to garner a sizable revenue by the end of 2027, progressing at a CAGR of more than 10% through the analysis period. Proliferating adoption of IoT devices across the energy sector is likely to propel segmental demand over the forthcoming years.
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