(MENAFN- GlobeNewsWire - Nasdaq) Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The 'optical communication and networking global market opportunities and strategies to 2032' report has been added to ResearchAndMarkets.com's offering.
The global optical communication and networking market reached a value of nearly $22,100.46 million in 2022, having increased at a compound annual growth rate (CAGR) of 7.00 % since 2017. The market is expected to grow from $22,100.46 million in 2022 to $29,508.99 million in 2027 at a rate of 5.95%. The market is then expected to grow at a CAGR of 8.81% from 2027 and reach $45,007.03 million in 2032.
Growth in the historic period resulted from increasing demand for energy-efficient & compact transceivers, tech sector supported the demand for optical communication, increasing number of internet users, strong economic growth in emerging markets and increasing wireless technology. Factors that negatively affected growth in the historic period was political uncertainties and geopolitical tensions and susceptibility to hacking.
Going forward, increasing number of data centers, rising urbanization, government initiatives and increasing internet penetration will drive the market. Factors that could hinder the growth of the optical communication and networking market in the future include shortage of skilled professionals and high initial deployment cost.
The optical communication and networking market is segmented by component into optical fiber, optical transceiver, optical switch, optical amplifier, optical circulator and other components. The optical fiber was the largest segment of the optical communication and networking market by component, accounting for $5,984.39 million or 27.08% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 6.33%.
The optical communication and networking market is segmented by technology into wavelength division multiplexing (WDM), synchronous optical network (SONET) and fiber channel. The wavelength division multiplexing (WDM) market was the largest segment of the optical communication and networking market by technology, accounting for $10,480.60 million or 47.42% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 6.17%.
The optical communication and networking market is segmented by end user into IT and telecom, banking, financial services, and insurance (BFSI), aerospace and defense, healthcare, energy and utilities and other end users. The IT and telecom was the largest segment of the optical communication and networking market by end user, accounting for $6,662.96 million or 30.15% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 6.28%.
Asia Pacific was the largest region in the optical communication and networking market, accounting for 33.23% of the global market in 2022. It was followed by North America, Western Europe and the other regions. Going forward, the fastest growing regions in the optical communication and networking market will be Asia Pacific and the North America, where growth will be at CAGRs of 6.86% and 6.36% respectively from 2022-2027.
The global optical communication and networking market is concentrated, with a large number of players. The top ten competitors in the market made up to 55.1% of the total market in 2021.
The top growth potential in the optical communication and networking market by component will arise in the optical fiber market, which will gain $2,150.84 million of global annual sales by 2027. The top growth potential in the optical communication and networking market by technology will arise in the wavelength division multiplexing (WDM) market, which will gain $3,654.39 million of global annual sales by 2027. The top growth potential in the optical communication and networking market by end user will arise in IT & telecom market, which will gain $2,372.91 million of global annual sales by 2027. The optical communication and networking market size will gain the most in the USA at $2,073.28 million.
Market-trend-based strategies for the optical communication and networking market include use of multicore optical fiber, adoption of coherent optics, use of fiber optic cables, new product launches, technological advancements, mergers and acquisitions and partnerships and collaborations.
Player-adopted strategies in the optical communication and networking industry includes strengthening business operations through the launch of new products and solutions, enhancing business activities through strategic acquisitions, empowering high-speed networks through the launch of new products and solutions, meeting the rising demand for unified optical monitoring solutions through the launch of new solutions and expanding business capabilities through new contract wins.
Reasons to Purchase
Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies. Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates. Create regional and country strategies on the basis of local data and analysis. Identify growth segments for investment. Outperform competitors using forecast data and the drivers and trends shaping the market. Understand customers based on the latest market research findings. Benchmark performance against key competitors. Utilize the relationships between key data sets for superior strategizing. Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
The report covers the following chapters
Introduction and Market Characteristics
Brief introduction to the segmentations covered in the market, definitions and explanations about optical communication and networking market.
Key Trends
Highlights the major trends shaping the global optical communication and networking market. This section also highlights likely future developments in the market.
Global Market Size and Growth
Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional Analysis
Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.
Market Segmentation
Contains the market values (2017-2032) and analysis for segment by component, by technology and by end user in the market.
Regional Market Size and Growth
Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies
This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
Conclusions And Recommendations
This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for optical communication and networking providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
Appendix
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Component: Optical Fiber; Optical Transceiver; Optical Switch; Optical Amplifier; Optical Circulator; Other Components
2) By Technology: Wavelength Division Multiplexing (WDM); Synchronous Optical Network (SONET); Fiber Channel
3) By End-Use: IT And Telecom; Banking; Financial Services; Insurance (BFSI); Aerospace And Defense; Healthcare; Energy And Utilities; Other End Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 375 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $22100.5 Million |
| Forecasted Market Value (USD) by 2031 | $45007 Million |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
Huawei Technologies Co Ltd Cisco Systems Inc Fujitsu Group II-VI Incorporated Nokia
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global optical communication and networking market
Global Optical Communication And Networking Market Global Optical Communication And Networking Market Tags fiber optic cable optical amplifier optical communication optical network optical switch optical transceiver optoelectronics