Global Optical Switches Market to Reach US$ 17.7 Billion by 2032, Impelled by Rising Adoption of Automation Across Industry Verticals

June 09, 2022 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Optical Switches Market Report by Type (Electro-Optic Switching, Acousto-Optic Switching, Thermo-Optic Switching, Liquid Crystal-Based Switching, Mems-Based Switching, and Others), Enterprise Size (Small and Medium-sized Enterprise, Large Enterprises), Application (Circuit Switching, Testing, Multiplexing, Cross-Connects, Signal Monitoring), Industry Vertical (Government and Defense, IT and Telecom, BFSI, Retail, Manufacturing, and Others), and Region 2024-2032," the global optical switches market reached a value of US$ 7.2 Billion in 2023. Optical switches are vital components in the field of networking. They are mainly designed in a multi-port network bridge form that is generally used to link multiple optic fibers and amplify the optical signal. Along with this, they are also utilized as a piece of networking equipment that are placed in-between optic fibers, which are intended for transmitting signals while controlling the data packets routing between outputs and inputs. The demand for optical switches is increasing across the globe due to their rising adoption in a wide range of applications, such as microsystems, networks and optical communications.

Global Optical Switches Market Trends:

The global market is primarily driven by significant growth in the telecommunication industry. Coupled with the augmenting preference for high bandwidth and data transfer rates among the masses, this is providing a boost to the demand for optical switches. Besides this, the widespread adoption of automation across different industry verticals due to rapid digitization is creating a positive market outlook. Since optical switches aid in increasing the fiber transmission capacity while distributing optical signals to different subscribers in a cost-efficient manner, this is providing an impetus to the market. Furthermore, the rising investments by leading players in product innovations and various technological advancements in the manufacturing processes are also acting as major growth-inducing factors. In addition to this, the growing infrastructural development projects related to data centers across several countries are contributing to the product demand. Other factors, including rapid urbanization, the escalating product adoption for network failure recovery across the industrial sector and extensive research and development (R&D) activities conducted by key players, are further favorably impacting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 17.7 Billion by 2032, exhibiting a CAGR of 10.4% during 2024-2032.

Market Summary:

On the basis of the type, the market has been segmented into electro-optic switching, acousto-optic switching, thermo-optic switching, liquid crystal-based switching, mems-based switching and others.
Based on the enterprise size, the market has been segregated into small and medium-sized enterprises and large enterprises.
On the basis of the application, the market has been classified into circuit switching, testing, multiplexing, cross-connects and signal monitoring.
Based on the industry vertical, the market has been categorized into government and defense, IT and telecom, BFSI, retail, manufacturing and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Agiltron Inc., D-Link Corporation, EMCORE Corporation, Fujitsu Limited, Furukawa Electric Co. Ltd., Huawei Technologies Co. Ltd., Juniper Networks Inc., Keysight Technologies Inc., Nokia Corporation, NTT Advanced Technology Corporation (The Nippon Telegraph and Telephone Corporation), OMRON Corporation and Yokogawa Electric Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Enterprise Size, Application, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Agiltron Inc., D-Link Corporation, EMCORE Corporation, Fujitsu Limited, Furukawa Electric Co. Ltd., Huawei Technologies Co. Ltd., Juniper Networks Inc., Keysight Technologies Inc., Nokia Corporation, NTT Advanced Technology Corporation (The Nippon Telegraph and Telephone Corporation), OMRON Corporation and Yokogawa Electric Corporation
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Global Optical Switches Market to Reach US$ 17.7 Billion by 2032, Impelled by Rising Adoption of Automation Across Industry Verticals

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