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The latest report by IMARC, titled “ OpticalWavelengthServicesMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandFo recast2023-2028
” finds that the global optical wavelength services market reached a value of US$ 4.2 Billion in 2022.
Optical wavelength services are point-to-point, fiber optic, high bandwidth delivery-based services. They offer organizations with various capabilities which promote workplace productivity and empower businesses to quickly adjust their setup and address capacity, speed, and uptime needs. They also provide various benefits, such as high security, easy scalability, greater capacity, flexibility, high performance, end-to-end management of information technology (IT) staff, network maintenance, costeffectiveness, and real-time response. As a result, optical wavelength services are extensively adopted across the telecommunication industry for data center interconnection, high-resolution video streaming, and credit card processing.
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The market is primarily driven by the advent of high-speed internet and the increasing requirement for automation, data, and file transportation in intelligent data center networking. Moreover, the rising utilization of optical wavelength services for reducing business expenditure by buying separate communication channels represents another major growth-inducing factor. Besides this, the growing inclination of business and service provider networks toward numerous multimedia services, such as voice over internet protocol (VoIP), internet of things (IoT), virtual reality (VR), augmented reality (AR), and cloud computing, are providing positive thrust to the market growth.
Furthermore, the increasing research and development (R&D) activities conducted by key players for introducing innovative technologies are positively influencing the market growth. Other factors, including several initiatives undertaken by governments of various nations to encourage the development of communication infrastructure and the increasing number of small and medium-sized enterprises, are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 7.1 Billion by 2028, exhibiting a CAGR of 8.56% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyBandwidth:
• Less than 10 Gbps
• 40 Gbps
• 100 Gbps
• More than 100 Gbps
BreakupbyInterface:
• OTN
• Sonet
• Ethernet
BreakupbyOrganizationSize:
• Small and Medium-sized Enterprises
• Large Enterprises
BreakupbyApplication:
• Short Haul
• Metro
• Long Haul
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• AT&T Inc
• CarrierBid Communications
• Charter Communications Inc.
• Colt Technology Services Group Limited
• Comcast Corporation
• Cox Communications Inc.
• Crown Castle
• GTT Communications Inc.
• Nokia Corporation
• T Mobile USA Inc. (Deutsche Telekom AG)
• Verizon Communications Inc.
• Windstream Holdings Inc.
• Zayo Group Holdings Inc.
ViewFullReportwithTOC&ListofFigure:
https://www.imarcgroup.com/optical-wavelength-services-market
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