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Passive Optical Network Equipment Market Trends, Outlook, Demand, Insights, Overview 2024-2033
Passive Optical Network Equipment Market Trends
According to The Business Research Company's, The passive optical network equipment market size has grown rapidly in recent years. It will grow from $18.25 billion in 2023 to $20.76 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to bandwidth demand, increased data security, demand for triple play services, telecommunications services, fiber optic communications.
The passive optical network equipment market size is expected to see rapid growth in the next few years. It will grow to $32.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to increasing adoption of cloud services, remote work and learning, rising internet penetration rates, urbanization, telecommunications networks. Major trends in the forecast period include fiber optic advancements, technological standardization, 5G integration, smart cities and IoT, software defined networking (SDN), green and energy-efficient solutions.
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Market Drivers and Trends:
Rising demand for high-speed broadband networks is expected to propel the growth of the passive optical network equipment market going forward. High-speed broadband networks are the infrastructure and technologies that enable fast and reliable internet access. The increasing reliance on digital services, remote work, online education, and the growing number of connected devices in modern lifestyles boost high-speed broadband network offerings. Passive optical network equipment facilitates efficient and high-speed broadband connectivity by utilizing fiber-optic technology to deliver reliable and fast data transmission between service providers and end-users. For instance, in July 2023, according to the Organization for Economic Co-operation and Development (OECD), a France-based international organization, data consumption per mobile broadband subscription increased by 17% in 2022, and the volume of mobile data usage overall per subscription has doubled in four years, from 4.7 gigabytes per month to 10.4 GB in 2022. Therefore, rising demand for high-speed broadband networks is driving the growth of the passive optical network equipment market.
Major companies operating in the passive optical network equipment market are focused on developing innovative network solution, such as XGS-PON (10 gigabit symmetrical passive optical network), to gain a competitive edge. XGS-PON is an updated standard for passive optical networks (PON) that supports high-speed symmetrical data transfers at 10 gigabits per second (Gbps). For instance, in February 2024, Precision Optical Technologies Inc., a US-based system engineering and integration company focused on optical networking products, announced the availability of OpenPath. Precision Optical Technologies' OpenPath is a turnkey solution for a more open passive optical network (PON) ecosystem. It simplifies and accelerates PON deployments, addressing challenges for multiple system operators (MSOs), service providers, and access network operators. It offers a robust platform for evolving networks with future PON technologies, supporting 10 gigabit symmetrical passive optical networks (XGS-PON). It also provides the ability to converge residential, commercial, and wireless services over a single infrastructure while allowing the reuse of existing ODN/passive resources.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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Major Key Players of the Market:
Verizon Communications Inc., AT & T Inc., Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., Qualcomm Incorporated, Mitsubishi Electric Corporation, Broadcom Ltd., Fujitsu Limited, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corp., ZTE Corp., NXP Semiconductors, Motorola Solutions, Marvell Technology Group, FiberHome Telecommunication Technologies Co. Ltd., Realtek Semiconductor Corp., Molex LLC, Tellabs Inc., Zyxel Communications Corp., Adtran Inc., Calix Inc., Dasan Zhone Solutions, Allied Telesis Inc., Ubiquoss Inc., Alphion India Pvt. Ltd
Passive Optical Network Equipment Market 2024 Key Insights:
• The Passive Optical Network Equipment Market is expected to grow to $32.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Rising Demand For High-speed Broadband Networks Growth In Passive Optical Network (PON) Equipment
• Advancements In Fiber Optic Technologies In Passive Optical Network (PON) Equipment
• North America was the largest region in the passive optical network equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the passive optical network equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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