Free Space Optics (FSO) Communication Market Future Growth, Business Prospects, Forthcoming Developments and Future Investments by Forecast to 2023 -2032

As per the report published by The Brainy Insights, the Global Free Space Optics (FSO) Communication market is expected to grow from USD 658.07 million in 2021 to USD 7075.72 million by 2030, at a CAGR of 30.20% during the forecast period 2022-2030. North American region emerged as the largest market for the Global Free Space Optics (FSO) Communication market, with a 34.5% share of the market revenue in 2021. North America currently dominates the Free Space Optics (FSO) Communication market due to the United States military utilizing free space optics communication technology, especially in ship-to-ship & naval communications. Constant growth and advancement of network solutions are also assessed to drive the free space optics communication market in North America. Similarly, an expansion in applications of free space optics communication technology in the aerospace and Défense industry is expected to push the market in the coming years. The Asia Pacific market can rise substantially due to the region's fast development of telecommunication and IT enterprises.

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Free Space Optics (FSO) Communication Market Size by Components (Modulators, Transmitters, Demodulators, Encoders, Decoders, and Receivers), End-User (IT & Telecommunication, Healthcare, Traffic, Aerospace Military, Defense, Business, Consumer Electronics, Manufacturing, Automotive and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Wireless Excellence Limited, Trimble Hungary Ltd., Signify Holding, Optelix, Oledcomm, Mostcom Ltd., Lucibel, LightPointe Communications, Inc., IBSENtelecom Ltd., Harris Corporation, fSONA Networks Corp., AOptix Technologies Inc., Anova Technologies, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The component segment is divided into modulators, transmitters, demodulators, encoders, decoders, and receivers. The transmitter segment dominated the market, with a market share of around 18% in 2021. The end-user segment is divided into IT & telecommunication, healthcare, traffic, aerospace, military, defense, business, consumer electronics, manufacturing, automotive, and others. The defense segment dominated the market, with a market share of around 12% in 2021.

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COVID-19 has substantially affected the global market of Free Space Optics (FSO) Communication. The telecom business is one of the enterprises that has been poorly affected. The pandemic has delayed the execution of free space optics technology, which will harm all stakeholders. Enterprises are also changing the approach in reaction to transformations in the market due to covid-19 by altering their growth strategy

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