The corporate sector has been witnessing a rapid growth and the dependence of different organizations on uninterrupted data connectivity is resulting in a high demand for higher bandwidth speed. The telecommunication industry is growing at a fact pace as well, on account of the rising number of smartphone users and rising penetration of internet all across the globe. The data traffic is further projected to increase in the coming years as the number of smartphone users is further expected to rise. This however is resulting in the considerable increase in the operational costs.
Attributed to these reasons, the preference towards optical networking and communication is rising, as it possesses much greater bandwidth capacity than the existing infrastructure. A communication system which makes use of light signals instead of electronic ones for sending information between two or more points is referred to as an optical network. These points could be computers in large urban centers, in an office, or nations in the global telecommunications system. As per a P&S Intelligence report, in 2018, the global optical networking and communication market size attained a value of $25.9 billion and is predicted to generate a revenue of $40.3 billion by 2024, progressing at a 7.6% CAGR during the forecast period (2019–2024).
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There are three types of network connectivity for this technology, namely long-haul, access, and metro. The demand for metro connectivity is expected to be the highest in the coming years, as metro network takes care of several customers in various applications such as wholesale services, data center interconnect, enterprise wavelength and packet connectivity services, and mobile transport. The demand for this connectivity is particularly rising for optical networking and communication from data centers all across the globe. This, in turn, is predicted to result in the growth of the optical networking and communication market.
A number of sectors make use of optical networking and communication including cable/broadcasting, telecommunication, data centers, government, industrial, and commercial. As mentioned above, the telecommunication sector is making wide usage of optical networking and communication due to the rising internet and smartphone penetration. In addition to this, governments in emerging economies, such as India and China, are focusing widely on infrastructural development and network planning and management for improving optical networking and communication in digitally supported business landscapes.
Hence, the need for optical networking and communication is rising due to the increasing demand for higher bandwidth speed and growing penetration of internet and smartphones.
