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. Global Optical Network Hardware Market size is poised to expand at 4.62?GR over the forecast period (2020-2030), according to Market Research Future (MRFR) in its latest report. It can reach a size of USD 8.21 Billion by 2030. The optical network hardware market report study highlights the market driving factors, market overview, industry volume, market share, opportunities, restraints, SWOT analysis, reviews and forecast.
Optical Network Hardware Market- Segmentations
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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.
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.
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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 theglobal optical network hardware market include –
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