Global Free Space Optics Market Report, published by Variant Market Research

Global Free Space Optics Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1,223.1 Million by 2024 from $101.9 Million in 2016, growing at a CAGR of 36.4% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 38.1% and 36%, respectively, during the forecast period.
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The factors supporting the growth of the global free space optics market are rising demand for data streaming and multimedia service and the ever-expanding telecommunication industry. Furthermore, high penetration of 3G and 4G in emerging economies, and rising applications of free space optics into military and healthcare also fuels the growth of the free space optics market.
However, environment turbulence may hamper the signal quality, which would restrain the growth of the market. Additionally, emerging economies and technology advancements would provide growth opportunity for the free space optics market.
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The global free space optics market is segmented based on the basis of component, application, and geography. By component type, it is categorized into the receiver, demodulator, modulator, transmitter, encoder & decoder, and others. Furthermore, by application segment is bifurcated into security, healthcare, airborne application, last mile access, storage area network, defense, data transmission, disaster recovery, and others.
By geography, the free space optics market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia-Pacific. Rest of the World (RoW) covers South America, Middle East, and Africa.
In the year 2016, by component segment, receiver and transmitter accounted for 28.6% and 26.7% market share respectively. Furthermore, by application segment, data transmission holds the highest share of 21.52%, driven by high penetration of internet, followed by defense with 20.39%, driven by rising budget allocation for the military.

Asia-Pacific is the fastest growing region in the global free space optics market and is anticipated to continue this trend, owing to increasing expenditure by government, development of smart cities, heavy investments on infrastructure, and the emergence of technology start-up companies. North America accounts the largest share of the market followed by Europe in the year 2016.
The key players operating in the market are,
• Panasonic Corp.,
• Trimble Hungary Ltd.,
• Fujitsu Ltd.,
• Anova Technologies,
• LightPointe Communications, Inc.,
• Wireless Excellence Ltd.,
• Outstanding Technology,
• General Electronics Co.,
• Lightbee Corp.,
• pureLiFi Ltd.,
• Harris Corporation, Inc.,
• Koninklijke Philips N.V.

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