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Optical Communications Market is Predominantly Driven by the Rising Telecom Demands, Growth, Business Opportunity, Future Scope- Forecast to 2023

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Chaitali Mahajan
Optical Communications Market is Predominantly Driven by the Rising Telecom Demands, Growth, Business Opportunity, Future Scope- Forecast to 2023

The optical communications market is growing persistently. The market growth attributes to the increasing demand for next-generation high bandwidth data centers and communication networks. Besides, the emergence of cutting-edge advanced optical solutions to serve a number of commercial markets, including astronomy, medical, ophthalmic, semiconductor, and others drive the market growth. Moreover, the uses of advanced optic products and medical optics in full detection systems escalate market growth. 

According to Market Research Future (MRFR), the global optical communications market is projected to create a valuation of approximately USD 24 BN by 2023, growing at 9% CAGR during the review period (2017-2023). Extensive uptake of fiber optic cable & its assemblies in major space research laboratories such as Jet Propulsion Laboratory (JPL) and the NASA’s Goddard Space Flight Center (GSFC) and the accelerates the growth of the market. Also, the demand for high-speed internet connectivity pushes market growth. 

Optical Communications Market- Competitive Landscape

Highly competitive, the optical communications market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, mergers & acquisitions, collaboration, brand reinforcement, and innovation remain key trends of industry players. Players make substantial investment research and development of innovative technologies and to upgrade their product portfolio. 

Major Players: 

Players leading the global optical communications market include AT&T Inc. (US), Verizon Communications (US), Maxim Integrated (US), Deutsche Telekom AG (Germany), Vodafone Group PLC (UK), Telefonica, SA (Spain), Telkom SA SOC Ltd. (South Africa), Orange (France), Telstra Corporation Ltd. (Australia), Hetzner Online GmbH (Germany), and Singapore Telecommunications Limited (Singapore), among others.

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Optical Communications Market- Segmentations 

By Component           : Optical Switches, Optical Transceivers, Optical Amplifiers, Optical Circulators, Optical Splitters, Optical Fibers, and others. 

By Technology           : Synchronous Optical Networking (SONET), Fiber Channel, Wavelength-Division Multiplexing (WDM), and others. 

By Application           : Enterprise, Telecom, Data Center, and others. 

By End Users  : Aerospace And Defense, Astronomy, Industrial, Medical, IT & Telecommunications, and others. 

By Regions      : Americas, Europe, APAC, and Rest-of-the-World (RoW).

Optical Communications Market- Geographical Analysis

North America dominates the global optical communications market. The market growth attributes to the enormous demand for optical communication technologies due to the increasing data rates enables increasing data collection and reducing operations complexity. Besides, the huge demand for improved bandwidth drives the growth of the market. The North American optical communications market is projected to retain its dominance throughout the estimated period. 

Europe stands second in the global optical communications market. The market growth is driven by the rising adoption of optical communication in applications such as enterprise, telecom, and data center. Additionally, the spurting growth in end-user industries such as aerospace and defense, astronomy, industrial, medical, and IT & telecommunications fosters the regional market growth. The European optical communications market is expected to witness rapid growth over the forecast period. 

Get More Information: https://www.marketresearchfuture.com/reports/optical-communications-market-4663

TABLE OF CONTENTS:

  1. Market Introduction
  2. Research Methodology
  3. Market Dynamics
  4. Executive Summary
  5. Market Factor Analysis
  6. Optical Communications Market, By Segments
  7. Competitive Analysis

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.  

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