Market Size – USD 390.0 Million in 2019, Market Growth – CAGR of 33.3%, Market Trends – The rise in the use of free space optics (FSO) communication technology in the defense industry.
The Global Free Space Optics (FSO) Communication Technology Market size was valued at USD 390.0 Million in 2019 and is anticipated to reach USD 3,507.8 Million by 2027 at a CAGR of 33.3%. The Free Space Optics (FSO) communication technology market is anticipated to grow substantially owing to the growing demand for digital connectivity and rising need for higher bandwidth as well as fast wireless communication. The market is also expected to boost by the increasing use of free space optics in 4G networks.
North America is anticipated to hold the largest market over the forecast period as the need for applications across satellite applications is growing rapidly. The European region is forecasted to witness stable growth due to the presence of significant market players in this region, specifically in countries like Germany and France.
The Asia Pacific is expected to experience significant market growth due to the rapid progress of the IT & telecommunications industry. Market growth is expected to further propel by rapid technical developments in this area and growing development in the connectivity & technology field in China and India.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Key Highlights From The Report
In March 2019, Mynaric AG, the manufacturer of laser communications terminals, announced that it raised USD 12.5 Million of investment from a mystery constellation venture that plans to setup 1,000 terminals.
Due to the rising need for applications for wireless communications and navigation, the satellite segment is expected to dominate the market over the forecasted period.
It is expected that the data transmission segment will hold the largest market during the forecast period. Free Space Optics technology can provide optical bandwidth connections that can transfer data via an invisible light beam, such as video, documents, and audio.
Over the forecast timeframe, the telecommunication segment is anticipated to dominate the market with a CAGR of 33.5%, due to the increasing demand for high bandwidth.
As the need for satellite application applications is increasing rapidly, North America is expected to hold the largest market over the forecast timeframe. The region of Europe is expected to experience stable growth due to the presence in the region of major market players, especially in countries such as Germany and France.
Due to the rapid growth of the IT & telecommunications industry, Asia Pacific is anticipated to witness substantial market growth.
Key participants include L3Harris Technologies, Inc., Mostcom Ltd., Airlinx Communications, Inc., fSONA Networks Corporation, SA Photonics, Inc., Mynaric AG, Plaintree Systems Inc., Lightpointe Communications, Inc., Trimble Hungary Ltd., and IBSENtelecom Ltd., among others.
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Platform Outlook (Revenue, USD Million; 2017-2027)
Airborne
Terrestrial
Satellite
Application Outlook (Revenue, USD Million; 2017-2027)
Disaster Management
Last Mile Access
Data Transmission
Storage Area Network
End-Use Outlook (Revenue, USD Million; 2017-2027)
Healthcare
Defense
Telecommunication
Others
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