Pune, India, July 25, 2019 (GLOBE NEWSWIRE) -- Optical Network Hardware Market
Market Research Future (MRFR) claims that the said market could easily exceed a valuation of USD 32 billion with 13.85% CAGR during the forecast period (2017-2023). Rapidly burgeoning industrialization and inclusion of digital technologies have spurred a demand for faster information sharing. Optical network hardware system is one such technology that meets the requirement of myriad industries, if measured in the scale of fast data sharing. Optical networking is an innovative technique that uses light waves to carry digital information via fiber optic cables. Varying frequencies of the light waves are expected to carry forward the information. With fast integration of 3G and 4G technology and 5G knocking the door, along with Wi-Fi and proliferating mobile services, the global optical network hardware system market is expected to secure high grounds.
The Trend-Setters:
Companies like Infinera, Ciena Corporation, Huawei Technologies, Cisco Systems, ADVA Optical Networking, Alcatel Lucent, Ericsson, ADTRAN, and ZTE Corporation are expected to reap the maximum benefit from the optical network hardware market owing to their already well-established business infrastructure.
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Boons and Banes:
Several aspects can ensure a startling rise for the optical network hardware market. Myriad industries are now focusing on effective data sharing process with a note lingering on the cost factor all the time. That is why they have started including data centers in their method of operation. At the same time, to curb cost, they are increasing their expenditure for cloud technology. Initial cost of installation of the process would be high but maintenance and operational costs are lower than traditional methods. These two technologies would ease the path for optical network hardware integration in the system.
On the other hand, increasing use of smart gadgets is expecting a new wave of technological upliftment. That is in the shape of 5G technology. The breathtaking data sharing speed of the technology requires adequate backup in terms of infrastructure. Especially, when the technology is particularly focusing on a bandwidth upgradation. Optical network hardware is providing the solution for this. Hence, a hike in market expansion rate can safely be assumed.
Internet of Things (IoT) requires coalescing of several technologies and it is fast gaining attention of myriad other industries. Seamless operation via IoT needs quicker data sharing and it requires assistance of the optical network hardware technology. Setting the premise on such needs, the global optical network hardware market is expected to soar high in the coming years.
On the flip side, the high installation cost could dampen the Optical Network Hardware Market prospect. But increasing digitalization would prohibit the market from having any long-time sluggishness.
Insights on Segmentation:
Segmentation-wise look into the optical network hardware market is expected to provide insights regarding weakness and strength of the market. MRFR’s report is founded on segmentation by equipment and application. Based on the equipment, the optical network hardware market is segmented into WDM and SONET/SDH or Wavelength-Division Multiplexing and Synchronous optical networking/synchronous digital hierarchy. The Wavelength-Division Multiplexing is a widely-acclaimed technology that translates many optical fiber carrier signals into a single fiber optic cable using different wavelengths of light. Its benefits such as full duplex transmission, similar optical network hardware components are making it popular among enterprises.
Application-wise, the optical network hardware market comprises datacenter, smart cities, broadband infrastructure, and fiber-optic network. The market for broadband is gaining momentum at a CAGR of 14% as the proliferation of the internet is rising and smartphone penetration is picking up the speed. Broadband infrastructure comprises wired technologies and wireless technologies. The datacenter application is on a path to scale a 15% CAGR during the forecast period.
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North America To Set the Pace:
Technological superiority, cutting-edge infrastructure, and high investment capacity on both government and private funding levels are expected to take the regional optical network hardware market forward. Industries are of the mind to integrate latest technologies to boost productivity at a small cost, which gives the regional market the much-needed thrust. It is also inspiring the research and development sector to cash in latest innovations by producing unprecedented products. These have made the region the market leader and can ensure a further hike by 13% CAGR during the forecast period. On the other hand, Europe is expected to tread in the same path. Its features are quite similar to that of the North American region. The APAC optical network hardware market is expected to gain substantial CAGR during the forecast period capitalizing on prospects provided by emerging economies. The region has huge potential, especially when the western market giants have set their eyes on the region for their market expansion plans.
What’s New?
In June 2019, Ciena Corporation announced their collaboration plan with Crosslake Fibre to power projects from New York to Toronto with optical network hardware system.
In June 2019, ADVA Optical announced their plans for Axians UK regarding NFV services where they would use this optical network hardware technology to provide high-end service.
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