Sustainable rise in penetration of high-speed internet along with surging bandwidth-intensive applications are augmenting the growth of optical wavelength services market
The global optical wavelength services market proposes potential to gain momentum reaching close to USD 9 billion by 2028. Observing the anticipated growth, the market is anticipated to exhibit a CAGR of 10% over the forecast period 2021-2028. Optical wavelength service refers to an end-to-end delivery service that relies on fibre-optic based bandwidth. This category of services includes high speed internet along with data services that are typically primary needs with the most significant applications by the telecommunication and IT industry. The broad range of applications that utilize optical wavelength service includes data centre interconnection, video streaming, high resolution requirements, credit card processing, and other financial applications. As optical wavelength services are relatively cost-effective, businesses sector is accelerating the demand for optical wavelength services. Escalation in rate of adoption is resulting in controlled business expenditure. The point-to-point service allows utilization of dense wavelength division multiplexing (DWDM) technology which leads to transmission of several high bandwidth channels through a single strand of fiber.
The growth trajectory of the global optical wavelength services market with respect to the historic graphs along with the current growth scales and patterns are portrayed to outline the traction. Some of the key factors boosting the growth of the global optical wavelength services market include the rapidly evolving technological environment bolstering the telecommunication industry. advancing internet of things (IoT) along with automation trends reshaping communication systems have driven a massive volume of data traffic therefore resulting in extreme necessities of robust bandwidth. Large enterprises as well as SMEs are extensively seeking for bandwidth services catering to the ideal mesh of cost and performance. High-speed internet and fiber optics have become the focal point for conducting smooth communication and not just complex tasks increasing the demand for optical wavelength services.
Adroit Market Research report on the global optical wavelength services market provides an exhaustive outlook of the market status from 2021 to 2028, which agglomerates data representing the market drivers, restrains, opportunities as well as challenges. The market dynamics have been examined for the historic years from 2019 to 2020 while considering the year 2020 as the base year of study. Future forecast analysis covers years from 2021 to 2028. The study covers key aspects of the current market status with future trends of the market assessed at local and international level. The report also covers market analysis based on Porters five forces analysis thereafter positioning the major players based on parameters such as strategic initiatives, geographic footprint and product portfolio coupled with overall market revenue.
The optical wavelength services market displays a fierce competition among the industry ancestors and the new entrants. The well-established players of the global optical wavelength services market are striving to embark opportunities across potential marketspaces in order to seize a strong foothold within the competitive environment and acquire leading position by strengthening the infrastructure via mergers, investments, agreements, and collaborations.
Based on type of bandwidth, the market is fragmented into four categories namely less than or equal to 10 Gbps followed by 40 and then 100 Gbps and lastly more than 100 Gbps. With increasing demand for bandwidth-intensive application the higher bandwidth segments are expected to grow substantially in the coming decade. The lesser bandwidth segments are expected to continue with an optimum growth while the demand for larger bandwidth applications is estimated to grow exponentially.
While North America has dominated the global optical wavelength market for the longest period of time, Asia Pacific is expected to witness exponential growth over the forecast. North America is projected to continue with substantial growth with prevalence of some of the key market players driving extensive initiatives and technological advancements. The region is expected to witness a substantial rise in the rate of demand owing to the vast marketspace comprising of large number of Small and medium size enterprises along with large enterprises. With increasing demand for robust internet speed and connectivity across business sector, the growth of optical wavelength market across North America is expected to soar. Asia Pacific is expected to notice a dramatic rise in the rate of adoption of optical wavelength services owing to the growth of telecommunication industry across economies coupled with the affirmative government support.
Major players of the global optical wavelength services market are Colt Technology Services, CenturyLink, Comcast, AT&T Intellectual Property, Charter Communications, Crown Castle, Cox Communications, GTT Communications, Jaguar Network SAS, T-Mobile USA, Nokia, Zayo Group, Verizon, Huawei Technologies, Windstream Intellectual Property, CarrierBid, Euro Technologies, ADTRAN, and Texona among others. The optical wavelength services market houses placement of the well-established as well as newly emerged domestic and global players. Additionally, the historically prevailing robust players are advancing towards innovative and strategic solutions and services in order to sustain within the competitive environment.
Key Segments of the Global Optical Wavelength Services Market
Bandwidth Overview, 2021-2028 (USD Billion)
- Less Than or Equal to 10 Gbps
- 40 Gbps
- 100 Gbps
- Higher than 100 Gbps
Interface Overview, 2021-2028 (USD Billion)
Application Overview, 2021-2028 (USD Billion)
- Short Haul
- Long Haul
Enterprise Overview, 2021-2028 (USD Billion)
- Large Enterprises
Regional Overview, 2021-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa