Optical networking is a form of a communication network that helps in dispersing information to several telecommunication nodes by consuming signals that are encoded onto the light. Furthermore, it has been observed that these systems operate from the limited range of local area networks that are commonly known as LAN. Optical cables are capable of extremely high bandwidth in accordance to the requirements of the user thereby these factors are fueling the growth of optical networking and communication market at an extensive rate across the globe. On the basis of technology, the optical networking and communication market is segmented into fiber channel, sonnet/SDH and WDM. WDM is further sub-segmented into DWDM and CWDM. Among all these segments, the broad segment fiber channel is expected to generate the largest revenue throughout the estimated period. This technology enables users to adopt more storage systems, enhanced scalability and severs the connection.
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Large bandwidth at lower cost, increasing telecom industry, increasing adoption of cloud-based services and increasing deployment of data centers are the key factors that is pertaining towards the growth of the optical networking and communication market. Furthermore, increasing demand for high bandwidth is accelerating the growth of optical networking and communication market. Additionally, it has been observed that the fiber optic cables that are usually utilized in optical networking and communication market are proficient of attaining extremely high bandwidth in the near future.
Moreover, optical networks have the capability of optimizing the congestion on the network due to increasing data traffic. Due to more deployment of data centers and adoption of cloud-based services, the need for high bandwidths is increasing which is provided by optical networks hence, it has fuelled the growth of the optical networking and communication market exponentially worldwide.
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Geographically, North America has been the largest optical networking and communication market, globally and it is anticipated to remain so during the forecast period. The extensive evolution of I.T sector has also been a reason for advanced growth in optical networking and communication market in this region. Moreover, optical networking and communication market in the Asia-Pacific is anticipated to witness the fastest growth during the forecast period due to the increasing penetration of household internet, power generation and increasing number of mobile phone users in this region that are considered to be the key driving forces in the growth of the optical networking and communication market globally.
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