Higher Bandwidth Requirement Revolutionizing Optical Networking and Communication Settings

Optical networking and communication settings are being transformed due to the surging requirement for higher bandwidth. Several countries and enterprises are increasing their dependency on uninterrupted data connectivity, which is resulting in a persistent demand for higher bandwidth. Moreover, the booming number of smartphone users, rising number of data centers, and mushrooming demand for data-intensive applications will fuel the demand for components and services related to optical networking and communication.

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The emergence of the internet of things (IoT) and machine to machine (M2M) technologies will drive the optical networking and communication market at 6.2% CAGR during the forecast period (2020-2030). The market stood at $16.9 billion in 2019 and it is expected to reach $32.8 billion by 2030. Largescale adoption of M2M and IoT technologies has boosted the requirement for increased network capacity. The soaring number of connected devices and surging adoption of data-intensive applications will boost the demand for fiber optic networks that provide higher data transfer speeds, in the foreseeable future.

The component segment of the optical networking and communication market is categorized into optical fibers, optical circulators, optical transceivers, optical splitters, optical amplifiers, and optical switches. Among these, optical fibers accounted for the largest market share in 2019, and it is expected to attain the fastest growth in the foreseeable years. The high requirement for hardware components can be credited to the vast demand for data centers, heavy data traffic, and rapid deployment of 5G networks. Since the 5G infrastructure can employ optical network hardware, the demand for optical fibers is rising globally.

These components are majorly employed by the telecommunication sector, owing to the high smartphone and internet penetration and extensive social media usage. Emerging economies like India and China are rapidly focusing on the infrastructure development and network planning and management, to enhance the optical networking and communication in their developing digital landscape. For example, India is leveraging vast smartphone user base and implementing numerous policies and initiatives to attract investments in the telecommunication industry and enhance connectivity in the nation.

Currently, the optical networking and communication market is observing an increased number of partnerships among the key market players. For instance, in February 2020, Lumentum Holdings Inc. collaborated with Infinera Corporation to bring the XR optics-based networking solutions in the market. Similarly, in June 2020, Telenor Group and Cisco Systems Inc. signed a joint purpose agreement to focus on open virtualized radio access network (vRAN), 5G, security, distributed cloud, and business-to-business (B2B) expansion.

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According to P&S Intelligence, the Asia-Pacific (APAC) region generated the highest demand for optical networking and communication equipment in 2019, and the regional market will record the fastest growth in the coming years. This is because APAC countries are witnessing a high broadband penetration. The evolution of broadband services is dependent on the installation of optical networks. Countries such as India, the Philippines, China, and Malaysia are witnessing vast requirement for optic cables, due to the high adoption rate of wireless communication and improvements in the IoT technology.

Thus, the escalating requirement for higher bandwidth and the surging implementation of IoT and M2M technologies will propel the adoption of optical fibers for strong network and communication system in the coming years.

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This release was published on openPR.