Optical Wavelength Services Market - Introduction
- Optical wavelength service is a fiber optic based point to point, high bandwidth, delivery service. Different high bandwidth channels can be transmitted in a single fiber strand by using dense-wavelength division multiplexing (DWDM) technology.
- Single fiber strands used by multiple businesses is a cost effective solution to reduce the cost of deploying and maintaining the separate fiber channel.
- Service providers offer metro wavelength services, domestic wavelength services, and international wavelengths services to businesses according to their requirements for data transmission.
- Service providers offer different optical wavelength services such as high bandwidth, static path, and dedicated bandwidth, and protected & unprotected services for optical wavelengths.
- Optical wavelength services can be applied for business continuity and disaster recovery, data center interconnection, high resolution video streaming, credit card processing, and other financial applications.
Key Drivers of the Optical Wavelength Services Market
- Increasing demand for fiber optic communication and growing demand for high speed internet for business communication is expected to drive the growth of the optical wavelength services market. Advancements in technology regarding communication standards are expected to boost the growth of the optical wavelength services market.
- Adoption of optical wavelength services help to minimize the business expenditure by purchasing separate communication channel and is expected to create better business opportunities for providers of optical wavelength services.
Increasing demand for virtual connectivity and limited availability of incremental bandwidth expected to hinder the market
- Increasing demand for virtual connectivity to reduce the expenses for communication technology system and channels for data security which may restrain the market growth of optical wavelength services.
- Limited availability of incremental bandwidth of optical wavelengths for data transfer and for business communication is also expected to hamper growth of the optical wavelength services market.
Impact of COVID 19 on Global Optical Wavelength Services Market
- The companies are expanding their geographical presence to capture more market share in Asia Pacific due to increasing impact of COVID-19 on business growth. Companies are adopting the work from home model for employee safety, which creates opportunities for data transfer service providers on optical wavelength channels.
- The companies are adopting the optical wavelengths services for providing the better signal quality and services to the viewer and customers. For transmitting the video conferencing signal with high quality the commercial sectors are adopting the optical wavelengths services during the period of COVID-19 in 2020.
North America to Hold Major Share of the Global Optical Wavelength Services Market
- North America was holding prominent share of the optical wavelength services market due to increasing adoption of high speed data transfer services for business communication and commercial data transfer.
- Increasing demand for optical wavelength services among small & medium size enterprises across North America creates business opportunities for major players in this regions after the financial year of 2020 by increasing business down fall due to COVID-19.
- The optical wavelength services market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing investment by major players to provide the services across the regions and also due to the increasing number of IT and services companies in Asia Pacific and Europe.
Key Players Operating in the Global Optical Wavelength Services Market
- Charter Communications, Inc.
Charter Communications, Inc. is a global telecommunication and mass media company, offering its services to over 26 million customers across 41 states and is the second largest service provider and cable operator in the U.S. The company offers different service packs for voice, TV, and internet.
- Colt Technology Services Group Limited
Colt Technology Services Group Limited is a global telecommunication company based in London, U.K. The company offers services in optical wavelength, business internet and VPN, Ethernet, voice, and cyber security. It also offers different products for cloud connectivity and data center solutions.
Other key players operating in the global optical wavelength services market include CenturyLink, Inc., Cox Communications, GTT Communications, Inc., Nokia Corporation, and Verizon Communications.
Global Optical Wavelength Services Market: Research Scope
Global Optical Wavelength Services Market, by Service Type
- Metro Wavelength Services
- Domestic Wavelength Services
- International Wavelength Services
Global Optical Wavelength Services Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Optical Wavelength Services Market, by Bandwidth
- Less than 10 GBPS
- 40 GBPS
- 100 GBPS
- More than 100 GBPS
Global Optical Wavelength Services Market, by End-user
Global Optical Wavelength Services Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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