Optical Communication and Networking Equipment Market COVID-19 Impact on Business Information Market Incredible Possibilities and Global Opportunity Analysis and Industry Forecast, 2021 – 2027

The global optical communication and networking equipment market size was valued at $15.72 billion in 2019, and is expected to reach $26.83 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027.Optical communication and networking equipment is a device that utilizes light which is signals encoded to transmit information in various types of telecommunications network. It includes wide-area networks (WAN) or limited range local-area networks (LAN), which cross regional and metropolitan areas as well as long-distance international, national, and transoceanic networks. The optical components in optical communication and networking includes optical amplifiers, transceivers, termination devices, tunable filters, and add-drop multiplexers.

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However, 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. In addition, pandemic has boosted the number of fiber optic broadband lines around the globe due to more data traffic as well as new broadband demands with people staying at home.
For instance, according to IDATE, a Media company and the FTTH Council Europe, a non-profit organization, high speed fiber will pass 202 million houses in the European Union and Britain by 2026, up from 88.1 million in 2019. This is mainly driven by the acceleration in demand for faster internet services due to COVID-19 pandemic.The amount of information traveling across the internet is experiencing continuous growth as more number of devices are connected as well as new applications are being developed. For instance, this growth is demonstrated in the Cisco Visual Networking Index, which shows that Internet Protocol (IP) traffic across the globe is increasing rapidly and the mobile data traffic is estimated to grow exponentially and reach about 30.6 exabytes per month in 2020. In addition to this, a growing number of smartphone users is projected to boost the internet usage.

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The global optical communication and networking equipment market is segmented on the basis of component, technology, industry vertical, and region. On the basis of component, the market is divided into optical fiber, transceiver, switch, and others. By technology, the market is classified into SONET, WDM, and Fiber Channel. On the basis of industry vertical, it is divided into IT & telecom, BFSI, military & defense, oil & gas, and medical & healthcare. Region wise, the optical communication and networking equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.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. Also, increase in demand for advanced network equipment due to COVID-19 pandemic is projected to drive the growth of the market during the forecast period.
However, requirement of huge initial investments is anticipated to restrain the market growth. On the contrary, 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.

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