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Optical Transceiver Market Insights: Industry Size, Share Analysis, and Growth Trends
Optical Transceiver Global Market Report 2024
According to The Business Research Company's, The optical transceiver market size has grown rapidly in recent years. It will grow from $10.06 billion in 2023 to $11.54 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to internet expansion, bandwidth demand, upgrade to higher data rates, telecommunication network upgrades, fiber optic network deployments, data center expansion.
The optical transceiver market size is expected to see rapid growth in the next few years. It will grow to $20.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to focus on energy efficiency, advancements in silicon photonics, expansion of smart cities, global increase in broadband access, enhanced security and encryption requirements. Major trends in the forecast period include pluggable optical modules, advancements in optical connectivity, wavelength division multiplexing (wdm), long-reach and metro networks, edge computing deployments.
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Market Drivers and Trends:
Increasing data traffic is expected to propel the growth of the optical transceiver market going forward. Data traffic, also known as network traffic, is the volume of data traveling over a computer network at any time that is divided into data packets and transmitted over the network before being reassembled by the receiving device or computer. Optical transceiver devices are used in high-data-traffic environments for transmitting and receiving data from one network to another. For instance, in 2021, according to the World Bank report, global internet traffic exceeded 3 zettabytes, or 3,000,000,000,000 gigabytes (GB) in 2020. Further, in 2022, data traffic exceeded 150,000 GB per second, a 1,000-fold increase from 156 GB in 2002. Therefore, the increase in data traffic drives the growth of the optical transceiver market.
Technological innovation is a key trend gaining popularity in the optical transceiver market. Major companies in the optical transceiver sector are focused on innovating their products to improve their observation power and sustain their position in the market. For instance, in March 2023, Quantifi Photonics, a New Zealand-based optical component company introduced O-band Coherent Optical Receiver and VISIQ Coherent Signal Analysis Software. Quantifi Photonics' O-band coherent optical receiver uses inter-datacenter coherent optical technology that offers a cost-effective and energy-efficient alternative to current intensity modulation direct detect (IMDD) technology for the transfer of a large volume of data between data centers that can be distant up to 120 km due to its inherent bandwidth-distance efficiency.
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Major Key Players of the Market:
Coherent Corp.; Accelink Technology Co. Ltd.; Huawei Technologies Co. Ltd.; Broadcom Inc.; Source Photonics Inc.; Hisense Broadband Inc.; Juniper Networks Inc.; Cisco Systems Inc.; Fujitsu Optical Components Limited; Lumentum Holdings Inc.; Sumitomo Electric Industries Ltd.; Perle Systems; Fiber Optic Communications Inc.; Arista Networks Inc.; ZTE Corporation; Applied Optoelectronics Inc.; Infinera Corporation; Intel Corporation; InnoLight Technology Co. Ltd.; Hisilicon; Eoptolink Technology; Molex LLC; NeoPhotonics Corporation; HUBER+SUHNER Cube Optics AG; NADDOD Pte. Ltd.; Reflex Photonics Inc.; Oclaro Inc.; Finisar Corporation; Acacia Communications Inc.; Ciena Corporation
Optical Transceiver Market 2024 Key Insights:
• The optical transceiver market size will grow to $20.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%.
• Surge In Data Traffic Fuels Growth Of Optical Transceiver Market
• Innovative Breakthroughs Drive Advancements In The Optical Transceiver Market
• North America was the largest region in the optical transceiver market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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