Worldwide Optical Transport Network Industry to 2029 - Rapid Increase in Bandwidth & Capacity Demand is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 30, 2021--
The “Optical Transport Network Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029” report has been added to ResearchAndMarkets.com’s offering.
The global optical transport network market is growing with a CAGR of 11.6% during forecast period.
The increasing spending on digital marketing is one of the key forces which is up surging the growth in the global optical transport network market. The rapid increase in the corporate internet users and household users has opened new avenues with the increasing level of bandwidth requirement all over the world. Extensive technological developments such as 100G bandwidth technology; beyond 100G bandwidth technology; and, intelligible core networks are boosting the adoption of Optical Transport Network (OTN).
Increasing Internet Use Is the Key Market Booster
The sudden upsurge in the number of internet users has brought about paradigm shift in the industry; and, it is demanding a whole new level of bandwidth requirement from the network world. It has been observed that there is a 550% rise in bandwidth demand owing to the shift to cloud and a 720% rise in bandwidth to encourage IP video across fixed and mobile networks. This will result in a 320% rise in the amount of traffic in the core network. The constant demand for enhanced bandwidth has encouraged telecom operators to search for a transport solution that reduces their whole cost of ownership. Optical Transport Network (OTN) switching offers telecoms with an effective approach. Due to rapidly increasing internet consumption by households or residential users is one of the further major driving factor for the growth of the Optical transfer network market.
NA Remains the Largest Market, However, APAC is the Fastest Growing Market
The North American optical transport network market was the largest market globally due to numerous factors. These include advancement in technology and rise of usage of internet over wireless gadgets and increase in high speed data transmission and data traffic. However, few factors such as spectrum crises is hampering the market potential of North American optical transport network market. North America is the region in the world with the highest monthly usage for data per active smartphone subscription.
This trend will continue in the coming years. Globally, North America accounted for 21% of the global internet traffic as of 2016. More than 90% of the North American population has access to internet. Of this majority of the internet users belong to the U.S. Internet users amongst age group, between 15-24 years and 55 years & above are amongst highest users in North America with an average 45% in 2020. IP traffic in North America reached 59.1 Exabyte per month (EB) by 2020, growing at an average 19% per annum. Asia Pacific is projected to be the fastest growing region for the optical transport network devices market. It is anticipated to grow with a CAGR of 12.1% during the forecast period.
Key questions answered in this report
- What are the key market segments in current scenario and in the future by product categories?
- What are the key market segments in current scenario and in the future by regions?
- What is the key impact of Covid-19 over market revenues and market determinants in the optical transport network market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segment?
- Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
- What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
- Rapid increase in The Bandwidth & Capacity Demand
- increasing internet Use by Residential Customers
- Resolves SONET/SDH Networks Issues
- High initial investment
- Failure of Early P-OTS installation
- Next Generation Optical Transport Network
- Introduction of New Technologies
- Tolerance To Chromatic Dispersion and OSNR
- Up-Gradation of Legacy Systems
For more information about this report visit https://www.researchandmarkets.com/r/6plotw
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PUB: 08/30/2021 10:11 AM/DISC: 08/30/2021 10:11 AM