According to
the new research report "Optical
Communication and Networking Market by Component (Fiber, Transceiver,
Amplifier, Switch, Splitter, Circulator), Technology (WDM, SONET, and Fiber
Channel), Application (Telecom, Data Center, and Enterprise) and Geography -
Global Forecast to 2023", published by MarketsandMarkets™,
the market is expected to grow from USD 15.11 billion
in 2017 to USD 24.12 billion by 2023, at a CAGR of
8.1% between 2017 and 2023. The growth of this market is driven by the growing
data center deployments, and increasing internet penetration and data traffic.
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Optical
communication and networking market for optical transceivers to grow at the
highest CAGR during forecast period
The optical
communication and networking market for optical transceivers is expected to
grow at the highest CAGR during the forecast period owing to the introduction
and adoption of new applications such as wearable devices, IoT, and cloud
computing to address the evolving consumer needs. The increasing internet penetration
and growing data traffic lead to the rapid growth of data centers along with
the need for high-speed transmission networks. Optical transceivers are used to
upgrade telecommunications networks and launch very large mega data centers.
Optical communication
and networking market for the data center application to grow at the highest
CAGR during forecast period
This market
for the data center application is expected to grow at the highest CAGR between
2017 and 2023 owing to the mainstream adoption of cloud computing and the
growing use of the Internet by smartphones and other connected devices. There
is a rapid increase in internet traffic going through mega data centers. Mega
data centers are operated primarily by leading companies, such as Amazon (US),
Apple (US), Facebook (US), Google (US), and Microsoft (US). They have steadily
increasing investments in very large data centers as they implement cloud-based
Big Data services that can be crowd-sourced and crowd-distributed and that use
machine-to-machine and inter-datacenter transactions to power the mobile web.
The Americas
to hold the largest share of the optical communication and networking market
during the forecast period
The Americas
held the largest share of the market in 2016 and is expected to dominate the
market with the largest share between 2017 and 2023. The Americas has emerged
as a major data center and cloud computing hub, which has ultimately made it
the largest consumer of optical communication and networking since data center
is the leading application for this market.
Speak to Expert Analysts:
The major
players in the optical communication and networking market are Huawei
Technologies Co. (China), Nokia (Finland), Cisco (US), Ciena (US), ADTRAN (US),
ZTE (China), Broadcom (US), Finisar (US), Fujitsu Optical Components (Japan),
Infinera (US), ADVA Optical Networking (Germany), NEC (Japan), Juniper Networks
(US), Ericsson (Sweden), Corning (US), and Coriant (US). The key innovators in
the market are Lumentum Operations (US), Calix (US), Oclaro (US), Arista
Networks (US), NeoPhotonics (US), Mitsubishi Electric (Japan), and ECI Telecom
(Israel).
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