< Key Hightlight >

MARKET OUTLOOK

According to Triton Market Research’s report, the global optical communication and network equipment market is envisioned to display growth at a CAGR of 7.06% through the predicted period of 2021-2028. 

In recent years, cloud computing has become a vital part of the business landscape. In this regard, several companies are embracing complex computing solutions. This rise in cloud-based and visualization services essentially helps the growth of the studied market across the globe. Furthermore, the increased demand for IoT technologies, coupled with the growing need for 5G infrastructure, is likely to open new avenues for the optical communication and network equipment market. 

However, the rising complexities in networks and the need for high initial investment hampers the growth of the optical communication and network equipment market. 

REGIONAL OUTLOOK

The global optical communication and network equipment market covers North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa regions. 

Europe is anticipated to emerge as the fastest-growing region in the optical communication and network equipment market over the forecast period. The increasing spending by European telecommunication carriers on optical equipment due to the rising demand for broadband connections is supplementing the studied market’s progress. Other than this, the European Commission adopted a 5G action plan to ensure the early deployment of a 5G network across the region, fueling the optical communication and network equipment market’s development within Europe. 

COMPETITIVE OUTLOOK

The major companies in the optical communication and network equipment market comprise NEC Corporation, Alcatel Lucent Enterprise, Mitsubishi Electric Corporation, Juniper Networks Inc, Cisco Systems Inc, Infinera Corporation, Ciena Corporation, Ribbon Communications Inc, Nokia Corporation, Fujitsu Optical Components Limited, Ericsson, ZTE Corporation, Adtran Inc, Huawei Technology Co Ltd, and Arista Networks Inc.

Cisco Systems Inc is involved in designing, manufacturing, and marketing internet protocol-based networking and other products. It also provides services associated with these products. The company’s product line includes switches, routers, cable modems, software products, antennas, and controllers, among others. Cisco is a global company with operations across the Asia-Pacific, Latin America, and Europe. It is headquartered in the United States.