With the emergence and long-term Impact of COVID-19, Global Optical Transport Network Market to reach USD 42.56 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Optical Transport Network Market points towards a potential rise to USD 42.56 Billion by 2030. An Optical Transport Network (OTN) is a high-capacity telecommunications network that uses optical fibers to transmit large amounts of data over long distances with high bandwidth and scalability. The Optical Transport Network Market is expanding because of factors such as increasing penetration of the internet and growing adoption of 5G networks. In the modern era, internet usage has experienced significant growth. According to the International Telecommunication Union, in 2021, around 4.9 billion people, which accounts for approximately 63% of the global population, relied on the Internet in 2021.
Growing adoption of 5G networks increased the demand for high bandwidth which increased the Optical Transport Network (OTN) Market. According to Statista in 2023, the global number of fifth generation (5G) subscriptions is projected to reach approximately 1.9 billion. This number is expected to rise to around 2.8 billion by 2024 and further grow to approximately 5.9 billion by 2027. In addition, increasing number of data centers and increasing demand for high-speed data transmission would create a lucrative growth opportunity. However, the high implementation cost and security concerns stifle market growth throughout the forecast period of 2023-2030.
Geographically, the global Optical Transport Network market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market during the forecast period owing to the increasing internet penetration and demand for high-speed data transmission increasing the growth in the region. Asia Pacific is the fastest growing region during the forecast period, owing to factors such as, the expansion of internet services, cloud computing, and mobile data is increasing the growth in the APAC region.
The global Optical Transport Network market is highly competitive owing to the presence of several key players such as Nokia Corporation Ciena Corporation Cisco Systems Incorporation Huawei Technologies Co. Ltd Fujitsu Limited Zhongxing Telecommunication Equipment Corporation Infinera Corporation Telefonaktiebolaget LM Ericsson NEC Corporation Yokogawa Electric Corporation, and others.
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Global Optical Transport Network Market Size study & Forecast, by Technology (DWDM, WDM) By Component (Optical Packet Platform, Optical Transport, Optical Switch) By Service (Network Design, Network Optimization, Network Maintenance, Other Support Services) By End-user Application (Communication Service Providers, Network Operators, Enterprises and Organization, Government and Institution) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Optical Transport Network Market is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2023-2030.
- In the Technology segment, DWDM emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing internet penetration and demand for high-speed data transmission increasing the growth in the region.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Optical Packet Platform
- Optical Transport
- Optical Switch
- Network Design
- Network Optimization
- Network Maintenance
- Other Support Services
By End-User Application:
- Communication Service Providers
- Network Operators
- Enterprises and Organization
- Government and Institution
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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