global optical switches market anticipated to thrive at a CAGR of 14.05% in the forecast period by 2024. The optical switches market is also poised to reach a valuation of USD 8.61 billion by 2024 from USD 3.98 billion in 2018. An optical switch is a device preferably used in the provision of selective switching of optical signals from one channel to the other by depriving the need for converting it into electrical signals. The widening benefits of optical switches have intensified the competition in the market, which has propelled the demand in the market resulting in whistle-stop growth over the next few years.
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The market players with significant global presence in global optical switches market are listed as Juniper Networks (US), Keysight Technologies Inc. (China), HP Enterprises (US), ON Semiconductor (US), Fujitsu Ltd (Japan), ZTE Corporation (China), Yokogawa Electric Corporation (Japan), Omron Corporation (Japan), Huawei Technologies (China), NEC Corporation (Japan), D-Link Corporation (Taiwan), Emcore Corporation (US), Cisco Systems, Inc. (US), DiCon Fiberoptics, Inc. (US), Luna Innovations Inc. (US), Ericsson (Sweden), Alcatel-Lucent SA (France), and OPTEK Technology, Inc. (US).
August 1, 2019: Razer, a popular gaming brand, announced the introduction of Viper, which is a lightning-fast mouse that is operated with the help of optical switches. The optical switches ensure to have improved durability with the Razer Viper and have a lifespan of a whopping 70 million clicks.
Market Drivers & Trends
An optical switch has gained immense popularity among the consumers owing to its range of benefits cub as reduced network equipment, increased switching speed, and decreased operating power. Due to these benefits, the market growth is accelerated immensely in the current year, and with the increased demand, it is anticipated that the market will cover more revenues over the assessment period.
The expansion of optical switches at a rapid pace has also been observed in the areas of switching and routing of the optical signal, optical network protection, and restoration, and optical network monitoring have also contributed to the market share. Apart from this, the growing data traffic and consequent increase in the demand for data transmission rates and reduction in energy consumption to drive the demand for optical switches remarkably in the market.
On the flip side, factor such as high cost of optical switches can occur as a hindrance to the growth of the global optical switches market.
The detailed analysis of the global optical switches market has been segmented based on type, sales channel, and application.
In terms of type: It includes acousto optical switches, liquid crystal optical switches, bubble optical switches, fiber bragg grating-based optical switches, mechanical, optical switches, magneto-optical switches, and many more. Among these, mechanical, optical switches segment is the fastest growing and is anticipated to attain higher CAGR in the assessment period. Other than this, the segment of mechanical, optical switches is also witnessing a growing adoption by mechanical keyboards manufacturers due to its astounding benefits such as faster actuation and better response time.
In terms of sales channel: It includes original equipment manufacturers (OEMs), offline distributor, and online distributor. Of these, OEMs segment was leading in 2018, and now the segment of the offline distributor is ready to register the highest CAGR during the assessment period.
In terms of application: It includes optical switching, fiber restoration, and optic component testing, optical add-drop multiplexing, optical cross-connects (OXC), signal monitoring, and many more. Among which, the optical switching segment is leading the market owing to its growing adoption in data centers to enable controlling traffic and with providing protection switching between networks. After this, fiber restoration, as well as the optic component testing segment, is also expected to attain the highest CAGR during the review period.
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Detailed Regional Outlook
For a detailed regional outlook, the global optical switches market study has been done under ley regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among these, Asia-Pacific is expected to have the maximum market share in the assessment period in support of increasing automation among various industry verticals that demand the use of optical switches for optic component testing. The region is substantially active in implementing optical switches mainly in prime countries like China, Japan, Australia, and India.
North America assumes to be at the second-largest market in the forecast period due to the high concentration of market players as well as the easy availability of expert technics.
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