ICT Media Industry
September 13, 2019

Global Optical Networking and Communication Market Overview, Trends, Opportunities, Impact of Drivers, Key Vendors, Types, Applications, Forecast by 2024

Optical cables are capable of extremely high bandwidth in accordance with the requirements of the user thereby these factors are fueling the growth of optical networking and communication market at an extensive rate across the globe.

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Based upon the component, the optical networking and communication market is segmented into optical amplifiers, optical circulators, optical fibers, optical splitters, optical transceivers, optical switches, and others. Among all these segments, optical transceivers are anticipated to generate the highest CAGR during the forecast period since these devices enable multimode and single-mode interfaces that allow business enterprises to float effective data for communication.

Large bandwidth at a lower cost, increasing telecom industry, increasing adoption of cloud-based services and increasing deployment of data centers are the key factors that are pertaining towards the growth of the optical networking and communication market.

Geographically, North America has been the largest optical networking and communication market, globally and it is anticipated to remain so during the forecast period. The extensive evolution of I.T sector has also been a reason for advanced growth in optical networking and communication market in this region.

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The prominent players in the optical networking and communication market are ADVA Optical Networking SE., Verizon Communications Inc., Cisco Systems Inc., JDS Uniphase Corporation, CIENA Corporation, Fujitsu Ltd., Alcatel-Lucent, Inc., Huawei Technology Co. Ltd., MRV Communications Inc., and Ericsson Inc.

Source: VynZ Research