Coronavirus Business and Industry Impact Analysis for Global Quad Small Form-Factor Pluggable (QSFP) Module Market 2020-2024 | Market to See a 10% Annual Growth through 2024 | Technavio
The global quad small form-factor pluggable (QSFP) module market size is expected to grow by USD 890.45 during 2020-2024, progressing at a CAGR of almost 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
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Technavio has announced its latest market research report titled Global Quad Small Form-Factor Pluggable (QSFP) Module Market 2020-2024 (Graphic: Business Wire)
The rise in optical fiber communication network connections will drive the QSFP market growth during the forecast period. Optical fibers are flexible, thin, susceptible to electromagnetic interference, and more rugged and reliable than copper cables. The fiber to the premises (FTTP) initiative by different countries such as Australia, China, India, and New Zealand is driving the demand for optical fiber and optical fiber components for FTTx (fiber to the x) connections. The FTTH network uses fiber optic cables instead of copper, telephone, or cable wires to deliver high-speed service to the homes. We expect that the emergence of high-speed FTTH service will increase the demand for optical transceiver modules to support higher bandwidth covering a longer distance. QSFP modules are designed to provide 10 Gbps speed covering 10 km distance on the established optical fiber networks.
Emergence of IoT will be a Key Market Trend
The emergence of IoT is expected to be one of the key QSFP market trends that will drive market growth. IoT enables operators to effectively pick up on inefficiencies and solve problems much faster during the production process, thereby achieving operational excellence. The installed base of cross-industry IoT devices, such as HVAC systems, building management systems, and connected light bulbs, has been witnessing a rapid increase for the past 4-5 years. Thus, IoT is driving the demand for connected devices, which have significantly increased bandwidth requirements. IoT largely depends on technologies such as Internet Protocol version 6 (IPv6), wired and wireless technologies, and physical devices embedded with actuators, sensors, and software. Building a sufficient infrastructure to keep pace with the increasing Internet traffic because of the emergence of IoT is imperative. Optical transceiver modules such as QSFP/QSFP+ enable data, resulting in flexible endpoint customization and capacity scaling.
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Quad Small Form-Factor Pluggable (QSFP) Module Market 2020-2024 : Key Highlights
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