Optical Wavelength Service Market Size will showcase lucrative growth from 2021 to 2027 on account of the emergence of 5G, the internet of things (IoT), and automation technologies. The soaring adoption of high-speed internet has paved the path for increased data traffic and maintenance costs. There is also rising need for automation in SMEs and large enterprises. Growing obligation for disaster recovery and the higher application scope in the financial sector will promulgate the industry progression.
The metro segment in the market is expected to grow at a notable speed driven by the rising bandwidth need between the data centers. Metro wavelength services not only offer customers high-speed and private networks but also render dedicated transport options. Increasing incorporation of multi-point configurations and the surging consumer 4K demand are other ideal factors contributing to the industry growth.
The demand for optical wavelength services across the OTN (Optical Transport Network) segment will gain prominence between the period 2021 to 2027 due to the increasing requirement for transportation in intelligent data center networking. The growing utility of cloud computing and multimedia services has resulted in a higher influx of digital traffic. Spiraling preference over traditional WDM transponder-based networks will further enhance the market outlook.
The large enterprises will observe a higher presence of optical wavelength services given the surging need to streamline the information through notable high bandwidth speeds. In order to cater to critical requirements, enterprises increasingly look for combining all their data as well as application processing in fewer data center sites. Growing requirements for private point-to-point connections and advanced security solutions will also add to the market proliferation.
The North America optical wavelength service market is set to witness traction owing to the higher penetration in small & medium-size enterprises. The surging necessity for high-speed connectivity in industries has made way for the growing obligation for LAN and WAN connectivity in the region. The robust presence of some of the well-known industry participants coupled with the soaring need for financial data transfer services will favor the regional expansion.
Asia Pacific will record a considerable utility of optical wavelength services led by the increasing government support for communication infrastructure in the region. The rise in the number of IT companies and the mount in investments will also add to the regional growth.
Cox Communications (Cox Enterprises), Verizon (Verizon Wireless, Inc.), Comcast, Crown Castle, Charter Communications, Colt Technology Solution, Jaguar Networks (Iliad), CenturyLink, Zayo Group, Windstream Enterprises (Windstream Holdings II, LLC), AT&T (AT&T Communications, Teleport Communications New York), Sprint Corporation (T-Mobile, T-Mobile US, SoftBank Group), Nokia, and GTT are some major industry players.
These firms are consistently coming up with strategic measures, such as investments, acquisitions, and partnerships, besides technological innovations to proliferate their services and geographical presence.
For instance, in June 2020, Zayo Group Holdings expanded its network with the launch of new long-haul optical wavelength routes across the U.S. to offer multiple terabits of capacity to its customers operating in diverse sectors.
In response to the COVID-19 pandemic, which posed a massive challenge on the global economy and numerous businesses worldwide, the demand for optical wavelength services noticed noteworthy growth. This can be attributed to the rising acceptance of work from home models and the increased efforts undertaken by companies to offer enhanced signal quality and services during the outbreak.
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Market, By End-use
The above information has been provided for the following regions and countries: