The latest report by IMARC Group, titled “Optical Wavelength Services Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global optical wavelength services market size reached US$ 3.84 Billion in 2021. Optical wavelength services are point-to-point, fiber optic, high bandwidth delivery-based services. They offer organizations with various capabilities which promote workplace productivity and empower businesses to quickly adjust their setup and address capacity, speed, and uptime needs. They also provide various benefits, such as high security, easy scalability, greater capacity, flexibility, high performance, end-to-end management of information technology (IT) staff, network maintenance, cost-effectiveness, and real-time response. As a result, optical wavelength services are extensively adopted across the telecommunication industry for data center interconnection, high-resolution video streaming, and credit card processing.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Optical Wavelength Services Market Trends:
The market is primarily driven by the advent of high-speed internet and the increasing requirement for automation, data, and file transportation in intelligent data center networking. Moreover, the rising utilization of optical wavelength services for reducing business expenditure by buying separate communication channels represents another major growth-inducing factor. Besides this, the growing inclination of business and service provider networks toward numerous multimedia services, such as voice over internet protocol (VoIP), internet of things (IoT), virtual reality (VR), augmented reality (AR), and cloud computing, are providing positive thrust to the market growth. Furthermore, the increasing research and development (R&D) activities conducted by key players for introducing innovative technologies are positively influencing the market growth. Other factors, including several initiatives undertaken by governments of various nations to encourage the development of communication infrastructure and the increasing number of small and medium-sized enterprises, are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 6.58 Billion by 2027, exhibiting a CAGR of 8.80% during the forecast period (2022-2027).
- Based on the bandwidth, the market has been classified into less than 10 Gbps, 40 Gbps, 100 Gbps, and more than 100 Gbps.
- On the basis of the interface, the market has been divided into OTN, SONET, and Ethernet.
- Based on the organization size, the market has been bifurcated into small and medium-sized, and large enterprises.
- On the basis of the application, the market has been segmented into the short haul, metro, and long haul.
- Region-wise, 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 Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being AT&T Inc., CarrierBid Communications, Charter Communications Inc., Colt Technology Services Group Limited, Comcast Corporation, Cox Communications Inc., Crown Castle, GTT Communications Inc., Nokia Corporation, TMobile USA Inc. (Deutsche Telekom AG), Verizon Communications Inc., Windstream Holdings Inc., and Zayo Group Holdings Inc.
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