Market Scope
Market Research Future (MRFR) believes that the optical switches market 2020 can gain a strong valuation of USD 8.61 billion by 2024. MRFR also reveals that the market advancement rate can be 14.05% between 2018 and 2024, which is the assessment period. We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
COVID-19 Analysis
The COVID-19 impact on various industries has been quite evident, with almost of all them facing massive economic crisis. While many businesses are bearing the brunt of the pandemic, the semiconductor sector seems to be most affected. Following the SARS-CoV-2 outbreak, multiple companies in the optical switches industry had to encounter tough decisions, in terms of finance, forcing them to adopt strategic cost-cutting measures to ensure lesser revenue loss and continuous flow of operations.
The lockdown situation has been the short term impact that the novel coronavirus, affecting the manufacturing sectors and resulting in a financial loss for numerous semiconductor firms. The weak demand has had a domino effect throughout the market, with the drop in the prices as well as demand. The COVID-19 outbreak and the lockdowns that have been imposed across countries have resulted in ceased operations, and slowing down of e-commerce as well as retail stores. The supply chains worldwide have collapsed, creating a bigger gap between supply and demand.
With that said, the optical switches market is projected to regain its prominence soon on account of the increasing support from the government across countries and the rising adoption of well thought strategies among leading vendors.
Primary Drivers and Main Deterrents
The vigorous increase in the number of data centers and the growing demand for optical modules for low power consumption, wider reach and high bandwidth in data centers could be the top impacting factors in the market for optical switches. The thriving cloud computing platform worldwide seems to be working in favor of the market, since it has given a boost to data centers.
The continuous emergence of latest technologies along with their expanding business possibilities can remain some of the optical switches market trends that can lead to more business expansion in the long run. Technologies such as IoT and sensor networks can also positively influence the optical network switches market in the approaching period.
In May 2020, a team from ITMO University, Russia, developed an innovative method that involved the use of femtosecond laser to build an optical switch. This advanced optical switch has been made on the basis of a metal-organic framework that is generally deployed used in chemistry to absorb gas and can also be synthesized in vitro. Researchers and renowned companies are constantly on the lookout for new innovative ways to develop advanced optical switches, with higher application scope across various industries.
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Market Segmentation
Type, sales channel and application are the top segments according to which the optical switches industry has been covered in the MRFR study.
The types of optical switches are liquid crystal optical switches, acousto optical switches, mechanical optical switches, bubble optical switches, magneto-optical switches, fiber Bragg grating-based optical switches, and more.
The sales channel verticals covered in the research are offline distributor, OEMs, as well as online distributor.
The key applications of optical switches are signal monitoring, optical add-drop multiplexing, optical cross-connects (OXC), fiber restoration and optic component testing, optical switching, and others.
Regional Insight
The market assessment for optical switches considers the key regions of Europe, North America, Asia Pacific or APAC, and RoW or the rest of the world.
The biggest gainer in the coming years can be the APAC market, given the presence of a significant market for mobile devices. APAC is neck to neck with giants such as North America, when it comes to consumption of smartphones and various mobile devices. Also, India and China are now among the top countries with the highest use of consumer electronics, which has boosted the number of services providers. This has resulted in the increasing establishment of high-speed fiber networks and even higher uptake of optical switches. Since the 5G technology requires 100% optical fibers, the demand for optical switches to facilitate low latency and smooth data transmission, can also mount considerably in the years to come.
During the appraisal period, it is estimated that North America can seize a noteworthy share in the global market. The market primarily benefits from the expanding data centers, the vast pool of illustrious players and the presence of highly proficient experts in the semiconductor industry. The high consumption of virtualization, edge computing and cloud services, can be a prominent trend in the region that can induce market expansion in the next few years.
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Renowned Companies
Renowned companies active in the market are Cisco Systems, Inc. (US), Alcatel-Lucent SA (France), Fujitsu Ltd (Japan), Luna Innovations Inc. (US), OPTEK Technology, Inc. (US), Huawei Technologies (China), ZTE Corporation (China), NEC Corporation (Japan), D-Link Corporation (Taiwan), Juniper Networks (US), DiCon Fiberoptics Inc. (US), Emcore Corporation (US), Keysight Technologies Inc. (China), ON Semiconductor (US), Omron Corporation (Japan), Ericsson (Sweden), Yokogawa Electric Corporation (Japan), HP Enterprises (US), to list a few.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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