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Optical Amplifier Market Size, Share, Growth, Trends, Applications, and Industry Strategies
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One of the key growth drivers of the market is the rapid advancements being made in the telecommunication sector. Optical networking or fiber optic has become a guided medium of choice in telecommunications. Optical amplifiers serve as a circuit enabling technology in optical communication networks. The adoption of optical amplifiers in this sector has enabled the transmission of huge volumes of data over a wide distance, ranging from 62 miles to transoceanic distances.
Currently, the optical amplifier market is witnessing the introduction of a large number of products by companies such as Finisar Corporation, Accelink Technology Co. Ltd., Santec Corporation, Viavi Solutions Inc., Broadcom Inc., NEC Corporation, Newport Corporation, Lumentum Operations LLC, Source Photonics, Furukawa Electric Co. Ltd., and Emcore Corporation. For example, in 2020, Furukawa Electric Co. Ltd. created new pump sources for forwarding Raman amplifiers to attain long-distance transmission and high data transfer speed in ultrahigh-high speed optical fiber communication.
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According to P&S Intelligence, Asia-Pacific (APAC) is expected to account for the largest share in the optical amplifier market in the coming years. This can be attributed to the increasing penetration of smartphones and expanding broadband user base in the region. For instance, according to the India Cellular & Electronics Association (ICEA), the number of smartphone users in India will rise from 500 million in 2019 to 829 million by 2022. ICEA also states that the average monthly data consumption of an individual will reach 18 GB by 2024.
Thus, the ongoing developments in the telecommunication industry and the rising number of new products will drive the demand for optical amplifiers in the forthcoming years.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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