The Global Optical Communication and Network Equipment Market to Progress at CAGR of 7.06% by 2028

Triton Market Research presents the Global Optical Communication and Network Equipment Market segmented by Technology (WDM, Fiber Channel, SONET), Industry Verticals (Military & Defense, Oil & Gas, IT & Telecom, Medical & Healthcare, BFSI), Components (Switch, Optical Fiber, Transceiver, Other Components), and by Geography (North America, Asia-Pacific, Europe, Latin America, Middle East and Africa). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Based on Triton Market Research, the global optical communication and network equipment market is likely to progress at a CAGR of 7.06% during the forecast years 2021-2028.

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Optical communication and network refer to a network type in which light carries a signal to the remote end instead of an electrical current.

In recent years, business operations have evolved significantly due to the adoption of new technologies, such as AI and IoT. When combined, AI and IoT ensure higher benefits for the companies and individuals, increasing their demand. Hence, the growth in demand for IoT creates several opportunities for the optical communication and network equipment market globally. However, high initial investments and growing complexities in the network hamper the overall development of the studied market.

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Globally, Europe is anticipated to witness the fastest growth in the optical communication and network equipment market. This growth can be attributed to the surge in spending by telecommunication carriers on optical equipment due to the rise in broadband connection demand.

Additionally, the adaptation of a 5G action plan by the European Commission is another factor that supports the growth of the studied market. Along with this, the presence of prominent market players such as Nokia Corporation and Alcatel Lucent Enterprise propels the optical communication and network market on a progressive path in Europe.

The eminent companies in the optical communication and network equipment market consist of ZTE Corporation, Fujitsu Optical Components Limited, Alcatel Lucent Enterprise, Infinera Corporation, Juniper Networks Inc, Ciena Corporation, Arista Networks Inc, Nokia Corporation, Mitsubishi Electric Corporation, NEC Corporation, Cisco Systems Inc, Ribbon Communications Inc, Huawei Technology Co Ltd, Ericsson, and Adtran Inc.

Providers of optical communication and network equipment need to comply with multiple regulations. Besides, several countries are creating regulatory frameworks to ensure the deployment of optical network equipment. This indicates the threat of new market players to be relatively high.

On the other hand, a marketing campaign associated with optical network equipment must be collected, integrated, and analyzed properly. Data traceability and protection are necessary to develop trust among consumers. As a result, consumers go for established brands to protect their data, increasing competition among existing players.

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This release was published on openPR.