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As per the latest report by IMARC Group, titled “Optical Interconnect Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global optical interconnect market size reached US$ 5.5 Billion in 2018. Optical interconnects are short optical links utilized for interconnecting different computer systems. They transmit signals from one part of an integrated circuit to another through light. Optical interconnects assist in receiving digital signals from network equipment and converting them into optical signals, which are transmitted over the fiber network. They range from short connections on motherboards to kilometer-long links employed in a vast network area. As they have a low frequency-dependent loss, negligible crosstalk and high bandwidth, they are considered a potential solution for sufficing the performance requirements of the present generation of data processors.
Global Optical Interconnect Market Trends:
Rapid development in the information technology (IT) sector, in confluence with the introduction of big data analytics and Internet of Things (IoT), is impelling the demand for high data transmission and bandwidth communication. This, in turn, is strengthening the growth of the optical interconnect market. The rising demand for increased bandwidth capacity and reducing power consumption in data center networks is also catalyzing the market growth. Apart from this, the increasing network traffic, from both private and government sectors, has led to a rise in the demand for optical interconnect devices to utilize resources and handle cloud computing systems efficiently. Presently, there is an increase in the adoption of optical interconnect devices, which favor the growth of several information-centric industries, on account of the rising trend of digitalization and cloud applications facilitating rapid communication. Looking forward, the market value is projected to reach US$ 14.7 Billion by 2024, expanding at a CAGR of 17.7% during 2019-2024.
Market Summary:
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