Optical Fiber Switch Market Size, Growth 2029
Research Nester released a report titled “Optical Fiber Switch Market-Global Demand Analysis & Market Opportunity Outlook 2029” which delivers a detailed overview of the global optical fiber switch market in terms of market segmentation by technology, function, number of ports, port speed, application, and by region.
Further, for the in-depth market analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global optical fiber switch market is estimated to grow at a significant CAGR during the forecast period i.e. 2021-2029. The market is segmented by application into cloud storage, data transmission, cable television, and others, out of which, the cloud storage segment is anticipated to garner the maximum market share by the end of 2029 on the back of the growing prominence for storage of data online by internet users all over the world.
The market is thriving on the back of a rising shift towards digitalization, increased internet penetration, and growing technological advancements among others. Geographically, the global optical fiber switch market is segmented into five major regions namely North America, Europe, Middle East & Africa, Asia Pacific, and Latin America, out of which, the North America market is anticipated to hold the largest market share by the end of 2029 on account of the presence of several key players in the region, along with the rising demand for high-speed data among the end-users. Moreover, the rising data traffic in nations, such as the United States, is also anticipated to contribute to the market growth. In the year 2018, North America observed around 88% of the total population who were connected to the internet, as per the statistics of the International Telecommunication Union (ITU).
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Increasing Digitalization and the Growing Internet Penetration is Projected to Drive the Growth of Optical Fiber Switch Market
The global shift towards digitalization has led to increased use of smartphones and other internet-connected devices. Moreover, backed by the rising number of internet users worldwide, there is a rising demand for high-speed internet. Moreover, the recent technological advancements in internet delivery have transformed the service delivery process of the internet service providers worldwide. Such factors are therefore anticipated to drive the growth of the optical fiber switch market throughout the forecast period. As of 2019, over 51 % of the global population was actively accessing the internet and this percentage is constantly increasing. Furthermore, as per the data by ITU, over 8.2 billion mobile cellular subscriptions were recorded globally in 2019.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
However, the high costs of optical fiber switches is expected to operate as a key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global optical fiber switch market which includes company profiling of Hewlett Packard Enterprise Co. (NYSE: HPE), Fujitsu Ltd. (TYO: 6702), Keysight Technologies Inc. (NYSE: KEYS), ZTE Corporation (SHE: 000063), Yokogawa Electric Corporation (TYO: 6841), Nokia Corporation (HEL: NOKIA), Cisco Systems Inc. (NASDAQ: CSCO), Huawei Technologies Co. Ltd., Sercalo Microtechnology Ltd. and ADVA Optical Networking (ETR: ADV). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the optical fiber switch market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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