Passive optical network equipment include optical splitters, optical networking terminal devices, and optical line terminals. They are increasingly being deployed by telecommunication providers worldwide to deliver fiber connectivity directly to residential and commercial premises.
The global Passive Optical Network Equipment Market is estimated to be valued at Us$ 22.92 Billion in 2023 and is expected to exhibit a CAGR Of 8.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing deployment of FTTH (fiber to the home) networks is one of the key trends driving growth of the passive optical network equipment market. With FTTH, fiber optic cable is run directly to the user's living or working space, enabling transmission of data at speeds much faster than conventional broadband. Telecom providers are aggressively laying FTTH networks to meet growing demand for high-speed internet. For example, China alone had deployed over 380 million FTTH connections by early 2021. Rising focus on gigabit networks globally is also augmenting the adoption of passive optical network equipment for last mile connectivity.
Segment Analysis
The global passive optical network equipment market is dominated by Optical Network Terminals (ONT) segment. ONT is a network termination equipment that provides access to multiple services such as voice, video and data to end users. It allows full IP interoperability and supports converged services such as voice and video over IP. ONT segment accounts for over 30% share of the global passive optical network equipment market owing to high demand for convergence of voice and data networks at customer premises.
Key Takeaways
The Global Passive Optical Network Equipment Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 8.1% during this period and reach a size of US$ 22.92 Mn by 2030.
Regional analysis
North America region currently dominates the global passive optical network equipment market and is expected to remain the largest market during the forecast period as well. The presence of major telecom operators and early adoption of advanced fiber optic networking technologies are driving the market in this region. The market in Asia Pacific region is expected to grow at the fastest pace owing to high fiber optic network rollout activities in various countries of the region including China, India and Japan.
Key players
Key players operating in the passive optical network equipment market are AbbVie, Novartis International AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sanofi S.A., Merck & Co., Abbot Laboratories, Horizon Therapeutics plc, Johnson & Johnson, GE Healthcare, Carl Zeiss Meditec AG, Alcon Vision LLC, Eli Lilly and Company, Optovue Inc and Kala Pharmaceuticals. AbbVie and Novartis International AG currently hold the major market share.
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