The latest market research report by Technavio on the global optical switches market predicts a CAGR of around 11% during the period 2018-2022.
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Technavio has published a new market research report on the global optical switches market 2018-2022 under their ICT library. (Graphic: Business Wire)
The report segments the global optical switches market based on application such as data communication, telecommunications, and others. The report also provides an analysis of the market based on geographic regions such as the Americas, APAC, and EMEA. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global optical switches market, according to Technavio ICT researchers:
- Increasing data center construction: a major market driver
- Emerging new age technologies and their scaling business opportunities: a key market trend
- APAC dominated the global optical switches market with over 44% share in 2017
- Huawei Technologies, Cisco, and Fujitsu are the leading players in the market
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Increasing data center construction: a major market driver
Increasing data center construction is one of the major factors driving the global optical switches market. Optical networking is the core of storage area networking and business connectivity solutions. Traditionally, data centers used network resources and technologies that were available to them. However, wide-scale investments in data centers are increasing the need for new optical modules to meet the demand for high bandwidth, low power consumption, and a broader reach. Therefore, with the growth in data traffic and emergence of cloud in data centers and applications, data center operators are relying on new age technologies, such as fiber optics networks.
According to a senior analyst at Technavio for IT hardware research, “Data centers owned by Google, Facebook, and Microsoft are equipped with energy-efficient and high-performance storage infrastructure. Fiber optics network hardware is a crucial element of these data centers. For instance, Google’s data center located in Council Bluffs, Iowa, has a fiber optic network connecting Google’s websites. It can run at a speed that is 2,00,000 times faster than the typical US home Internet.”
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Emerging new age technologies and their scaling business opportunities: a key market trend
Network traffic has grown significantly over the last decade, driven by emerging technologies. Network traffic in terms of the data volume from data-centric applications is expected to drive the market for optical network hardware. Sensor networks and the growing penetration of IoT are also expected to have a positive impact on the growth of the optical network hardware market. The success of emerging technologies, such as IoT, is dependent on the scope of services provided by the technology. To ensure the delivery of optimum services, IoT has to have high-speed connectivity, which is possible only with a fiber network. IoT integrates various technologies, including hardware design, data communication, and data storage and mining.
APAC: largest global optical switches market
Technavio researchers anticipate high growth for the global optical switches market in APAC due to the growth of data centers in the region. The development of the cloud computing platform has been one of the major factors that has driven the need for an increase in data centers. For instance, Google announced that it would increase its investments in data centers to support its growing cloud computing enterprise.
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