Optical communication and networking market has recorded commendable growth over the years supported by new investments made towards building and commercialization of machine-to-machine (M2M) communication networks over licensed spectrums.
Companies are shifting to cloud computing technology to manage their data more efficiently. The advent of artificial intelligence (AI) and IoT along with faster internet communication solutions will drive the need for OCN equipment.
As per a report by Global Market Insights, Inc. the optical communication and networking market size is projected to cross USD 30 billion in value through 2027.
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In the pursuit of expanding their operations and meeting their expansion needs, developers of OCN equipment are partnering, acquiring, and inking strategic contracts with others companies. They are also directing their resources for introducing new products to enhance their product portfolio.
In July 2021, Germany-based ADVA Optical Networking introduced the industry’s first optical transport mechanism secured by post-quantum cryptography. The new FSP 3000 ConnectGuard™ optical encryption solution offers protection to data against cyberattacks from quantum computers that may break the cryptographic algorithm.
The BFSI sector has shown considerable demand for optical communication and networking systems driven by the adoption of emerging technologies like IoT, AI cloud-based services, machine-to-machine networks, and web-driven applications.
Need to present an enhanced digital service experience along with value addition will support the adoption of optical communication and networking market.
In Europe, enterprise network infrastructure is expanding at a decent pace with an emerging need for reliable and high-speed internet access to meet the demands from various large corporations and a developed economy.
Many Europe-based optical communication and networking companies are partnering with one another firms to build innovative solutions. For example, in October’20, telecommunications infrastructure operator, Cellnex Telecom inked a partnership with Everynet- a provider of IoT connectivity solutions in a bid to boost the adoption of IoT networks. The deal helped the company use smart IoT systems that are based on LoRaWAN technology that helps provide improved connectivity solutions to many sectors like transportation, agriculture, and utilities.
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Fiber channel technology has in particular witnessed considerable demand. The technology has promising application across large enterprises for efficient data storage and secure remote connections by allowing detection of hardware-managed errors for reduced network overhead. Escalating demand for cloud data units has supported the need for fiber channels.
From the above, it may be conferred that optical communication and networking market is slated to witness significant demand as it helps to upgrade telecom systems and provide instant data speeds for large-scaled data centers. It also offers reliability with close to 100% uptime and relatively low network latency.
Efforts taken by governments in many regions to facilitate the development of smart cities will supplement the demand for optical communication and networking systems to offer uninterrupted connectivity to many IoT-enabled devices.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope and definition
1.1.1 Methodology & forecast parameters
1.2 COVID-19 impact
1.2.1 North America
1.2.3 Asia Pacific
1.2.4 Latin America
1.3 Regional trends
1.3.1 North America
1.3.3 Asia Pacific
1.3.4 Latin America
1.4 Data Sources
220.127.116.11 Paid sources
18.104.22.168 Public sources
Chapter 2 Executive Summary
2.1 Optical communication and networking market 360º synopsis, 2016 - 2027
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Technology trends
2.6 Application trends
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