Increase insignificance of high-speed bandwidth, technological advancement across the world, and growing Internet penetration have boosted the growth of the global coherent optical equipment market
PORTLAND, Oregon, April 2, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Coherent Optical Equipment Market by Technology (100G, 200G, 400G+, and 400G ZR), Equipment (WDM (Wavelength-division Multiplexer), Modules/Chips, Test & Measurement Equipment, Optical Amplifiers, Optical Switches, and Others), Application (Networking, Data Center, and Original Equipment Manufacturer (OEMs)), and End User (Service Provider, Public Sector, and Industries): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global coherent optical equipment industry was pegged at $18.64 billion in 2018, and is expected to reach $37.18 billion by 2026, registering a CAGR of 9.4% from 2019 to 2026.
Chief reasons for market fluctuations
Increase insignificance of high-speed bandwidth, technological advancement across the world, and growing Internet penetration have boosted the growth of the global coherent optical equipment market. However, high initial investment hampers the market growth. On the contrary, expansion in rural areas is expected to create lucrative opportunities in the near future.
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Wavelength-division multiplexer (WDM) segment dominated the market
By equipment, the wavelength-division multiplexer (WDM) segment held the largest share in 2017, contributing to more than one-fourth of the global coherent optical equipment market, owing to high adoption of WDM among network carriers and service providers across the globe. However, the optical switches segment is expected to register the fastest CAGR of 11.2% during the forecast period, owing to rise in the adoption of the mechanical switch and MEMS switch in an optical network among the telecom and networking industry.
Data center segment to portray the fastest growth through 2026
The data center segment is expected to register the fastest CAGR of 10.9% during the forecast period, due to advancements in networking technologies that supported the evolution of IoT devices. However, the networking segment held the largest share in 2018, accounting for nearly half of the global coherent optical equipment market. This is pertaining to the advancements in networking technologies that supported the evolution of IoT devices.
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North America held the largest share
The market across North America held the largest share in 2018, accounted for around two-fifths of the market, due to rapid shift to next-generation technologies and networks. However, the global coherent optical equipment market across the Asia-Pacific region is expected to manifest the fastest CAGR of 12.0% during the forecast period. This is due to increasing demand for the Internet in developing countries, such as India, China, and Taiwan, rising industrialization, and increasing awareness associated with the benefits of the technology in the region.
Major market players
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