Market Scope
Market Research Future (MRFR) believes that the optical switches market 2020 can gain a strong valuation of USD 8.61 billion by 2024. MRFR also reveals that the market advancement rate can be 14.05% between 2018 and 2024, which is the assessment period. We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
Market Scenario
The rising data traffic and the consequent rise in demand for high data transfer rates and a decrease in energy consumption drive the industry demand for optical switches. Owing to driving factors such as increased demand for high bandwidth and data transfer rates, the optical switches market insights is expected to grow during the forecast period. Related benefits such as lower energy consumption along with high scalability and versatility are likely to fuel optical switch market growth. The high cost of optical switches, however, is constraining market growth. In addition , high costs and budget constraints could impede market growth over the forecast period. At the other hand, the growing number of data centers creates substantial opportunities for market players operating in the global optical switch market to expand.
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COVID-19 Analysis
The COVID-19 impact on various industries has been quite evident, with almost of all them facing massive economic crisis. While many businesses are bearing the brunt of the pandemic, the semiconductor sector seems to be most affected. Following the SARS-CoV-2 outbreak, multiple companies in the optical switches industry had to encounter tough decisions, in terms of finance, forcing them to adopt strategic cost-cutting measures to ensure lesser revenue loss and continuous flow of operations.
The lockdown situation has been the short term impact that the novel coronavirus, affecting the manufacturing sectors and resulting in a financial loss for numerous semiconductor firms. The weak demand has had a domino effect throughout the market, with the drop in the prices as well as demand. The COVID-19 outbreak and the lockdowns that have been imposed across countries have resulted in ceased operations, and slowing down of e-commerce as well as retail stores. The supply chains worldwide have collapsed, creating a bigger gap between supply and demand.
With that said, the optical switches market insights is projected to regain its prominence soon on account of the increasing support from the government across countries and the rising adoption of well thought strategies among leading vendors.
Market Segmentation
The global optical switches market has been segmented based on sales channel, type, application, and region.
The market was segmented by type into optical acousto switches, optical liquid crystal switches, optical bubble switches, optical fiber-based Bragg grating switches, mechanical optical switches, magneto-optical switches and others. Due to its increased deployment in mechanical keyboards the mechanical optical switches segment is expected to dominate the market during the forecast period. Razor Inc., for example, launched two new mechanical keyboards in 2018—the Huntsman and the Huntsman Elite featuring the company's opto-mechanical switches. The switch offers faster movement and better responsiveness.
The market was segmented into original equipment producers (OEMs), offline distributors, and online distributors by sales channel. In 2018, OEMs are set to dominate the market. The offline distributor segment is expected to record the highest CAGR over the forecast period, however.
The market was segmented by application into optical switching, fiber restoration and optical component testing, optical add-drop multiplexing, optical cross-connections (OXC), signal monitoring and others. The optical switching segment is slated to dominate the market for optical switches during the forecast period due to its increasing adoption in data centers to facilitate oth controlling traffic and providing protection switching between the networks. On the other hand, the fiber restoration and optic component testing segment is slated to register the highest CAGR during the forecast period.
Regional Outlook
During the review period from 2018 to 2024 the global demand for optical switches is expected to rise at a significant pace. The optical switches market is geographically studied for North America, Europe , Asia-Pacific and the rest of the world.
Asia-Pacific is expected to dominate the optical switch market from 2018 to 2024 due to the increasing automation across various vertical industries requiring the use of optical switches for optical component testing. In addition, the high concentration of market players in the region and low-cost raw material availability promote mass production of low-cost optical switches. Due to the growing number of data centers in the world, North America is expected to hold a significant share of the optical switches market. In addition, the high concentration of industry players and easy availability of professional technical expertise also drive the region 's demand for optical switches.
Competitive Dynamics
The key players acknowledged in the optical switches market are Keysight Technologies Inc. (China), Juniper Networks (US), HP Enterprises (US), ON Semiconductor (US), ZTE Corporation (China), Fujitsu Ltd. (Japan), Yokogawa Electric Corporation (Japan), Huawei Technologies (China), Omron Corporation (Japan), NEC Corporation (Japan), Emcore Corporation (US), D-Link Corporation (Taiwan), DiCon Fiberoptics, Inc. (US), Cisco Systems, Inc. (US), and OPTEK Technology, Inc. (US).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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