Market Research Future (MRFR), in its latest “Optical Network Hardware Market” report, details growth boosters for the market. Potential growth scopes and possible threats are detailed in the report. MRFR study reveals that the global market of optical network hardware in 2017 was valued at USD 14 Billion. The rise in the adoption of cloud-based technology is expected to cause escalation in the market valuation. The optical network hardware market can value at USD 32 Billion by 2023 due to the growing demand. The worldwide market of optical network hardware can expand at 13.85% CAGR across the forecast period.
MRFR Identified Reputed Names in Global Optical Network Hardware Market they are:
Ciena Corporation, Huawei Technologies, Infinera, Alcatel Lucent, ADTRAN, Ericsson, ADVA Optical Networking, Cisco systems, and ZTE Corporation.
Covid 19 Pandemic Effects on Optical Network Hardware Market with Complete Table of Content and Free Sample at:
Optical networking technology allows transfer of digital information in form of light waves via fiber optic cables. Ease, convince, and swiftness of transfer of digital data; lately generated in large volume across different sectors, enabled by optical networking technology are can boost the expansion of the global optical network hardware market. Rapid developments in cloud services can add momentum to the expansion of the global optical network market. The rise in the market growth can also be attributed to the growing demand for connected virtual devices. The availability of effective mobile services and robust network connectivity, such as 3G or 4G technology, and Wi-Fi can bolster the expansion of the optical network hardware market. on the contrary, the lack of proper infrastructure and funding to design innovations can hinder the expansion of the global optical network market. Higher transition and maintenance cost are other restraints on the optical network hardware market growth.
The global market of optical network hardware is studied by equipment and application.
The equipment-based segments of the optical network hardware market are WDM and SONET or SDH. The advent of wavelength-division multiplexing (WDM) supports that enable transmission of data via multiple wavelengths of light over a single optical fiber using different frequencies, can prompt the market growth. The Wavelength-division multiplexing (WDM) segment is expected to value above USD 10 billion at 15% CAGR by 2023.
The application-based segments of the market are broadband infrastructure, smart cities, fiber optic networks, datacenters, and others. The broadband infrastructure segment is lucrative application segment for the optical hardware market. MRFR study states that the broadband infrastructure application segment is likely to expand 14% CAGR by 2023. The fiber optic network segment can earn decent profits for the market. The increase in datacenter application of optical network can prompt the global market growth. The datacenters market can surge at 15% CAGR in the review period. The rise in demand of high bandwidth services, IoT adoption, and growing utility of optical transport networking systems can prompt the market expansion. Exploitation of the internet for commercial and personal purpose is boosting the network traffic, thereby causing the need for optical network system for seamless transfer of data.
North America optical network hardware market can dominate in the assessment period. MRFR states that North America optical network hardware market can surge at 13% CAGR due the availability of advanced technologies. Asia Pacific optical network hardware market can expand at 16.75% CAGR over the forecast period. The Asian governments are investing to improve building high capacity network and the ongoing trend of broadband network can prompt the expansion of the regional market. Europe optical network hardware market can surge due to the growing datacenter establishments.
List of Table:
TABLE 1 GLOBAL OPTICAL NETWORK HARDWARE MARKET, BY EQUIPMENT, 2017-2023 (USD MILLION)
TABLE 2 GLOBAL OPTICAL NETWORK HARDWARE MARKET, BY APPLICATION, 2017-2023 (USD MILLION)
TABLE 3 GLOBAL OPTICAL NETWORK HARDWARE MARKET, BY REGION, 2017-2023 (USD MILLION)
TABLE 4 NORTH AMERICA OPTICAL NETWORK HARDWARE MARKET, BY COUNTRY, 2017-2023 (USD MILLION)
TABLE 5 NORTH AMERICA OPTICAL NETWORK HARDWARE MARKET, BY EQUIPMENT, 2017-2023 (USD MILLION)
List of Figures:
FIGURE 1 TOP DOWN & BOTTOMUP APPROACH
FIGURE 2 FORECAST MODEL
FIGURE 3 SUPPLY CHAIN ANALYSIS
FIGURE 4 PORTER’S FIVE FORCES ANALYSIS OF GLOBAL OPTICAL NETWORK HARDWARE MARKET
FIGURE 5 GLOBAL OPTICAL NETWORK HARDWARE MARKET, BY EQUIPMENT, 2017-2023 (USD MILLION)
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