Optical Communication and Networking Equipment is anticipated to reach US$ 44.5 Billion in 2032 - Persistence Market Research
NEW YORK, May 17, 2022 /PRNewswire/ -- As per a study by Persistence Market Research, from US$ 22 Billion in 2022 to US$ 44.5 Billion in 2032, the global optical communication and networking equipment market is predicted to grow at a 7.3% CAGR from 2022 to 2032. Rising adoption of cloud-based services and virtualization services all over the world, increasing data traffic due to increased internet usage, and growing number of data centers are some factors that are expected to accelerate the growth of optical communication and networking equipment market during the forecast period.
Major factors such as surge in data traffic owing to the increased internet usage, increasing number of data centers, and rise in adoption of cloud based as well as virtualization services fuels growth of the market. In addition, an increase in demand for advanced network equipment due to COVID-19 pandemic is anticipated to propel the growth of the market during the analysis period.
The acceleration in deployment of VOIP, LTE, and 5G networks is expected to provide lucrative opportunities for the market growth. In addition, rise in adoption of AI and IoT is anticipated to be opportunistic for the growth of the optical communication and networking equipment industry during the forecast period. Moreover, the market is expected to witness a recovery in its growth rate in the coming years, owing to the growing focus of organizations to fulfill upsurge in demand for telecommunication equipment driven by rapid acceleration in 5G deployment across the globe.
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Key Takeaways from the Market Study
Major players such as Arista Networks, Inc., Cisco System Inc., Fujitsu Optical Components Limited, Huawei Technologies Co., Ltd., Juniper Networks, Inc., Mitsubishi Electric Corporation, NEC Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, and ZTE Corporation, among others are expected to dominate the market share in terms of revenue.
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Find More Valuable Insights on Optical Communication and Networking Equipment Market
Persistence Market Research puts forward an unbiased analysis of the global Optical Communication and Networking Equipment Market, providing historical demand data (2015-2021) and forecast statistics for the period of 2022-2032. To understand the opportunities in Optical Communication and Networking Equipment, the market is segmented on the basis of component, technology, vertical, data rate, and application across five major regions.
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