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© Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved
Optical Networking and Communication Market Opportunities,
Growth, Challenges, Business Trends and Forecast 2030
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© Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved
With the increasing number of internet users across the world, the demand for higher
bandwidth and greater speed is rising sharply, which is, in turn, propelling the demand for
optical networking and communication solutions. According to the World Bank, around
57.0% of the global population had access to the internet in 2019. Moreover, the generation of
large volumes of data, on account of the adoption of advanced technologies, such as the
internet of things (IoT), artificial intelligence (AI), and machine learning (ML), the demand
for low-latency network is rising among enterprises.
Apart from the aforementioned factors, the emergence of machine-to-machine (M2M) and the
IoT technologies is also driving the growth of the optical networking and communication
market. As per the estimates of the market research company, P&S Intelligence, the optical
networking and communication market value will rise from $16.9 million in 2019 to $32.8
billion by 2030, exhibiting a CAGR of 6.2% from 2020 to 2030. With the large-scale use of
the M2M and IoT technologies, the requirement for robust network capacity is surging. In
addition, the ballooning use of connected devices and data-intensive applications is also
propelling the requirement for fiber optic networks that provide high data transfer speeds.
Optical transceivers, optical fibers, optical circulators, optical amplifiers, optical switches,
optical splitters, optical aggregators, and optical filters are the major components of optical
networking and communication systems. . Amongst these, the demand for opt