Optical Communication and Networking Equipment Market Expected to Reach $26.83 Billion By 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.
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Some of the prime drivers of the optical communication and networking equipment industry are surge in penetration of the aging infrastructure is further anticipated to drive the optical communication and networking equipment market growth. The market for optical communication and networking equipment would be driven by investing in new technology aimed at increasing system life. Another key factor driving the growth of the optical communication and networking equipment market is the increased focus on infrastructure throughout the world.
Optical communication and networking equipment provides monitoring technology to alert maintenance workers when outdated and overused equipment is about to fail, allowing them to make better decisions by providing real-time data on problems and possibilities for improvement. Aside from the limits listed above, there are others, such as environmental factors such as temperature and humidity, as well as groundwater seepage, which can have an influence on the operation of switchgear electrical networks, particularly those situated outside. The changing times necessitate changes in the fundamentals as well. In this situation, even small and medium-sized organizations (SMEs) are taking advantage of collocation data hubs' immense potential and the internet's enormous capacity.
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Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.
The optical communication and networking equipment industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global optical communication and networking equipment market include:
• Huawei Technologies Co., Ltd
• Nokia Corporation
• Juniper Networks, Inc.
• Mitsubishi Electric Corporation
• Cisco System Inc.
• Fujitsu Optical Components Limited
• ZTE Corporation
• Arista Networks, Inc
• Telefonaktiebolaget LM Ericsson
• NEC Corporation
Top Impacting Factors
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.
Key Benefits for Stakeholders:
• This study comprises analytical depiction of the global optical communication and networking equipment market growth along with the current trends and future estimations to depict the imminent investment pockets.
• The overall optical communication and networking equipment market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current optical communication and networking equipment market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and the optical communication and networking equipment market share of key vendors.
• The report includes the market trends and the optical communication and networking equipment market opportunity of key vendors.
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