Optical Fiber Switch Market Highlights Over 2020-2029
The optical fiber switch market is estimated to grow at a significant CAGR throughout the forecast period, i.e., 2021-2029, on the back of rising internet penetration globally, followed by the increasing utilization of cloud storage, and rising data transmission. According to the International Telecommunication Union, 41.69% of the world population used the internet in 2015 which rose to 44.8% in 2016. This rate crossed 51% in 2019, backed by the increasing social media usage and the increasing adoption of digital lifestyle. The rise in the demand for optical fiber switches can also be further attributed to the increasing efficiency of optical fiber switches and their ability to handle high speed data transmission. However, the high costs of optical fiber switches present a challenge to the market growth.
On the basis of application, the market is segmented into cloud storage, data transmission, cable television and others, out of which, the cloud storage segment holds the highest growth potential, which can be attributed to the growing prominence of cloud storage applications. Cloud storage devices usually are interconnected with fiber optical cables and hence require numerous fiber optical switches to link the inter-connected hardware.
Global Optical Fiber Switch Market Regional Synopsis
On the basis of regional analysis, the optical fiber switch market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The North America market is anticipated to hold the highest market share by the end of 2029 primarily on the back of the highest data traffic in the region. According to the data by International Telecommunication Union (ITU), as of 2018, 88.50% of the total population in the North America was documented to use the internet paving way for future opportunities in the region.
Alternatively, the Asia Pacific market is estimated to be the highest growing market for optical fiber switch on the back of technological advancements, increased mobile cellular subscriptions and internet penetration, growing digitalization, and population growth. For instance, according to the data by International Telecommunication Union (ITU), Asia Pacific recorded over 4.5 billion mobile cellular subscriptions in 2019.
The global optical fiber switch market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Market Segmentation
Our in-depth analysis of the optical fiber switch market includes the following segments:
By Technology
- Mechanical Optical Switch
- Liquid Crystal Optical Switch
- Thermal Optical Switch
- Magneto Optical Switch
- Others
By Function
- All Optical (Optical-Optical-Optical or OOO)
- Electro Optical (Optical-Electric-Optical or OEO)
By Number of Ports
- Up to 4
- 4 – 16
- 16 – 48
- 48 & above
By Port Speed
- 10 Gbps
- 25 Gbps
- 40 Gbps
- Others
By Application
- Cloud Storage
- Data Transmission
- Cable Television
- Others
Growth Drivers
- Growing Transit Towards Digitalization and Surge in Cloud Based Technology
- High Efficiency of Optical Fiber Switches
Challenges
- High Production and Installation Cost
Top Featured Companies Dominating the Market
- Hewlett Packard Enterprise Co.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Fujitsu Ltd.
- Keysight Technologies Inc.
- ZTE Corporation
- Yokogawa Electric Corporation
- Nokia Corporation
- Cisco Systems Inc.
- Huawei Technologies Co. Ltd.
- ADVA Optical Networking
- Sercalo Microtechnology Ltd.
