The global optical communications market forecast is presumed to garner USD 24 billion and expand at 9 % CAGR during the forecast period (2017-2023) owing to the increasing demand for next generation of high bandwidth data center, asserts Market Research Future (MRFR). Optical communication refers to the process of sending information at a distance by using light as a carrier. The system comprises a channel, a modulator or transmitter, and a receiver or a photo-detector. The commonly used channel for optical communication is optical fibers which carry optical information to the destination.
Drivers and Constraints Impacting the Market
With the rising demand for next generation of high communication network and bandwidth data center, the global optical communication market is likely to propel during the assessment period. Advanced optical solution serves commercial markets including semiconductor, ophthalmic, medical, astronomy, and others. For instance, advanced optics are utilized in a number of products so that it reaches the medical optics market from optical fiber to full detection systems. Innovation in data transmission and communication at long-distance and high-speed is appealing the market growth. Moreover, increasing need for reliable and faster communication network, growing adoption of cloud-based services, and growing data centers are some of the major factors contributing to the market growth.
On the flip side, risk associated with fiber hacks is anticipated to retard the market growth in the coming years. Also, high cost of long-distance cables poses challenge to the global market.
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Global Optical Communications Market: Segmental Analysis
The global optical communications market has been segmented on the basis of technology, component, end-users, applications, and region.
By mode of components, the global market for optical communication has been segmented into optical transceivers, optical switches, optical fibers, optical splitters, optical amplifiers, optical circulators, and others. Among these, the optical fibers segment is further sub-segmented into single-mode and multimode optical fiber.
By mode of technology, the global market for optical communication has been segmented into fiber channel, synchronous optical networking, wavelength-division multiplexing, and others.
By mode of application, the global market for optical communication has been segmented into telecom, enterprise, data center, and others.
By mode of end-users, the global market for optical communication has been segmented into IT & telecommunications, aerospace and defense, astronomy, industrial, medical, and others.
Geographically, the optical communications market span across regions namely, North America, Asia Pacific, Europe, and Rest-of-the-World.
Among all the regions, the North American region is considered to be one of the leading regions in terms of market share. The optical communication market has tremendous demand in this region owing to the rising data rates that enable rise in data collection and reduction in operational complexity.
The optical communication market in the European region is presumed to register rapid growth in the assessment period owing to the presence of highly advanced telecommunication network in this region.
Asia Pacific is an emerging region for optical communication market and is presumed to register the highest CAGR during the assessment period owing to the increasing focus of leading market players on targeting optical communications to meet the customer’s requirements.
September 10, 2018: Boeing invested in BridgeSat which is an optical communications solutions company. They work to enable the future of connectivity in space with the help of proprietary space terminals and a network of ground stations. BridgeSat is developing a global network of Optical Ground Stations in order to transmit large amounts of data into space reliably and at a fast pace. The stations support Geostationary Orbit and Low Earth Orbit satellite optical communications, thus enabling secure transmissions between spacecraft, satellites, high-altitude aircrafts, and unmanned aerial vehicles.
The major players operating the global market are Telefonica, AT&T Inc. (U.S), Vodafone Group PLC (UK), Singapore Telecommunications Limited (Singapore), Hetzner Online GmbH (Germany), Deutsche Telekom AG (Germany), Maxim Integrated (U.S), Telstra Corporation Ltd. (Australia), S.A (Spain), Orange (France), Verizon Communications (US), Telkom SA SOC Ltd. (South Africa), and others.
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