Market Synopsis
According to MRFR, the global optical switches market is slated to expand from USD 3.98 billion in 2018 to USD 8.61 billion by 2024, at a CAGR of 14.05%, during the review period.
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 analysis 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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Market Segmentation
Type, sales channel and application are the top segments according to which the optical switches industry has been covered in the MRFR study.
The types of optical switches are liquid crystal optical switches, acousto optical switches, mechanical optical switches, bubble optical switches, magneto-optical switches, fiber Bragg grating-based optical switches, and more.
The sales channel verticals covered in the research are offline distributor, OEMs, as well as online distributor.
The key applications of optical switches are signal monitoring, optical add-drop multiplexing, optical cross-connects (OXC), fiber restoration and optic component testing, optical switching, and others.
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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