Market Overview:
The detailed report published by Market Research Future (MRFR) projects that the global optical network hardware market analysis is marked to exhibit noteworthy expansion at a CAGR of 4.62% during the forecast period from 2020 to 2030. The global optical network hardware market is also anticipated to reach the market valuation of USD 32 Bn by the end of the review period from USD 8.21 Bn in the year 2030. High demand for internet connectivity, easy adoption of technologically advanced solutions and devices, increased utilization of smartphones by the population of all age groups and increasing number of optical network hardware manufacturers are majorly propelling the growth of the global optical network hardware market during the assessment period.
Global Optical Network Hardware Market: Key Players
Optical Network Hardware Vendors are Huawei Technologies, Ciena Corporation, Alcatel Lucent, Infinera, Cisco systems, ADTRAN, ADVA Optical Networking, Ericsson, and ZTE Corporation. The players in the global optical network hardware market are improving their services and introducing innovative products in order to expand their businesses and create dominance over the global optical network hardware market. The strategic initiatives such as mergers and acquisitions and planned collaborations are aiding these players to sustain the competition in the global optical network hardware market.
Global Optical Network Hardware Market: Segmental Analysis
The global optical network hardware market has been segmented on the basis of equipment and application. Based on equipment, the global optical network hardware market has been segmented into WDM and SONET/SDH. The wavelength-division multiplexing (WDM) segment commands for the major share of the global optical network hardware market and generated the highest market revenue of USD 10 Bn in the year 2017. This segment is also marked to expand at a CAGR of 15% during the forecast period of 2017-2023. Based on application, the global optical network hardware market has been segmented into broadband infrastructure, datacenter, fiber optic network and smart cities. Among these, the broadband infrastructure segment commands the major share of the global optical network hardware market owing to the growing rate of internet and smartphone penetration all over the world. However, the datacenter segment is marked to project fastest growth at a CAGR of 15% in the global optical network hardware market during the assessment period.
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Global Optical Network Hardware Market: Regional Analysis
Geographically, the global optical network hardware market has been segmented into four major regions such as North America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The North America region commands the major share of the global optical network hardware market. The optical netwrok hardware in this region generated the market revenue of USD 8 Bn in the year 2017 and in anticipated to expand at a noteworthy CAGR of 13% during the assessment period. High demand for internet connectivity, easy adoption of technologically advanced solutions and devices, increased utilization of smartphones by the population of all age groups and increasing number of optical network hardware manufacturers are majorly propelling the growth of the optical network hardware market in the North America region.
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The optical network hardware market in the Asia Pacific region is marked to project fastest growth at a CAGR of 15% during the assessment period owing to the increased manufacturing and export of hardware component as a result of increasing availability of raw materials and cheap labor in the emerging economies, high penetration of smart phones and increased demand for improved connectivity in this region.
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