The optical network hardware market is growing persistently. The market growth attributes to the increasing demand for modernized optical networks that can transfer fixed & wireless traffic from customer-provided equipment to metro access, supporting client services. Besides, rising requirements for a scalable and upgraded infrastructure that can grow capacity while increasing performance and resilience substantiate the market demand. Optical Network Hardware Market size is poised to expand at 11% CAGR over the forecast period (2018-2023), according to Market Research Future (MRFR) in its latest report. It can reach a size of USD 32 Billion by 2023.
With the rising pressure to reduce operating expenses and optimized capital expenditures through simplified and streamlined end-to-end service operations, the market is projected to witness significant traction in the years to come. In this regard, Market Research Future (MRFR) states that the global optical network hardware market is estimated to create an exponential value by 2027, growing at a phenomenal CAGR during the review period (2020-2027).
Additionally, rapid advances in communication technologies and networks propel the growth of the market. Rising demand for optical communication technologies and devices across industries substantiates the regional market growth. Furthermore, the emergence of cutting-edge advanced optical solutions to serve a number of commercial markets drive market growth.
Simultaneously, increasing the adoption of optical Network Hardware in some of the burgeoning industries such as automotive and data management & telecom defines the future landscape of the market. Rise in over-the-top (OTT) video content and improvements in internet access boost the market growth to an extent. Furthermore, the market penetration of cloud computing, data transfer & storage, and IoT propel the growth of the market extensively.
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Optical Network Hardware Market- Segmentations
The report is segmented into equipment, applications, and regions. The equipment segment is sub-segmented into wavelength-division multiplexing (WDM), SONET/SDH, and others. The application segment is sub-segmented into datacenters, smart cities, broadband infrastructure, fiber optic networks, and others.
Optical Network Hardware Market- Geographical Analysis
North America dominates the global optical network hardware market, witnessing enormous demand for optical communication technologies and fiber networks. The rise in work-from-home (WFH) and utilization of unified communication applications create a vast demand for fiber-supported broadband networks. Besides, growing needs for seamless connectivity led by the rising online learning, content streaming, and telehealth activities bolster the market growth.
Europe stands second in terms of the optical network hardware market value. The market growth is driven by the rising adoption of optical communication in enterprise, telecom, and data centers. Moreover, the spurting growth in aerospace & defense, medical, and IT & telecom sectors foster the growth of the regional market. The European optical network hardware market is expected to witness rapid growth over the forecast period.
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The Asia Pacific optical network hardware market is growing rapidly. The region is a major hub for consumer electronic products, healthcare, and automotive. Also, the region demonstrates huge potential for solutions offering customer base enhancements. Investments in improving connectivity solutions and upgrades in networking solutions offer major growth opportunities.
Additional factors bolstering the market growth are the growing adoption of smartphones, demand for connectivity, focus on network quality, and rise of video streaming boost the market size. Furthermore, a large consumer base, R&D funding, and the emergence of big data and cloud computing companies substantiate the market growth.
Optical Network Hardware Market – Competitive Landscape
Highly competitive, the optical network hardware market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, mergers & acquisitions, collaboration, brand reinforcement, and innovation remain key trends of industry players. Players make substantial investment research and development of innovative technologies and to upgrade their product portfolio.
Optical Network Hardware Market Key Players:
Players leading the global optical network hardware market include –
- Infinera (U.S.)
- ZTE Corporation (China)
- Alcatel-Lucent (France)
- Cisco Systems (U.S.)
- ADVA Optical Networking (Germany)
- Ciena Corporation (U.S.)
- ADTRAN (U.S.)
- Huawei Technologies (China)
- Ericsson (Sweden).
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