Global Optical Wavelength Services Market to Reach US$ 9.0 Billion by 2032, Spurred by their Rising Adoption Across Multiple Industrial Verticals

October 03, 2022 | Technology & Media

The latest report by IMARC Group, titled “Optical Wavelength Services Market Report by Bandwidth (Less than 10 Gbps, 40 Gbps, 100 Gbps, More than 100 Gbps), Interface (OTN, Sonet, Ethernet), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Short Haul, Metro, Long Haul), and Region 2024-2032,” finds that the global optical wavelength services market reached a value of US$ 4.6 Billion in 2023. 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.

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$ 9.0 Billion by 2032, exhibiting a CAGR of 7.5% during 2024-2032.

Market Summary:

  • 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, T Mobile USA Inc. (Deutsche Telekom AG), Verizon Communications Inc., Windstream Holdings Inc., and Zayo Group Holdings Inc.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Optical Wavelength Services Market to Reach US$ 9.0 Billion by 2032, Spurred by their Rising Adoption Across Multiple Industrial Verticals
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