Global Free Space Optics Market: Exponential Growth of the Market Fuelled by Demand for Higher Bandwidth and Better Speed, Says TMR
Compelled by the dynamic nature of the global free space optics market, companies are focusing on the innovation of reliable free space optics (FSO) systems and solutions to pace up with the recent technological advancements. Key companies operating in the global free space optics market such as Optelix, Mostcom Ltd., Trimble Hungary Ltd., AOptix Technologies Inc., Harris Corporation, and LightPointe Communications, Inc. are also under the constant pressure of innovating products to maintain a competitive edge, states Transparency Market Research (TMR) in a new study.
The market is currently witnessing immense growth opportunities due to the rising demand for low-cost, high-speed, and secure communication methodologies around the world. TMR has presented refined outlook for the FSO market predicting a robust CAGR of 39.5% between 2016 and 2024. At this pace, the opportunities for the global free space optics market is poised to rise from US$81.3 mn in 2015 to US$1.3 bn before 2024 ends.
Among the key applications segments, data transmission is expected to provide the market with the most lucrative opportunities. Regionally, North America emerged dominant with a share of 30% in the global free space optics market in 2015.
Demand for Higher Bandwidth and Speed in Communication Channels to Boost Adoption of FSO
Despite advancements in the networking technology, conventional radio frequency spectrum has proven inadequate in catering to the unprecedented growth in the demand for high-speed internet and higher bandwidth. The increasing demand for multimedia services and data streaming has thus resulted in congestion of the conventional radio frequency spectrum. Considering the scenario, an increasing number of network providers are compelled to switch to the FSO technology. The other advantages offered by the technology are rapid deployment, high fiber-like bandwidth, low operational and start-up cost, and high data transmission security.
“The rising use of FSO systems for diverse military applications such as ship-to-shore communication, ship-to-ship communication, and the communication between military bases within the range of 2 to 4 kilometers is a key factor aiding the market’s expansion,” said a lead TMR analyst.
Deterioration of Signal Quality Due to Environmental Factors Pose Fundamental Challenge to the Market
In a majority of the optical wireless technologies, it is important for light to contend with interference caused due to the complexity of the atmosphere. In FSO communication, the space through which signals propagate also present a fundamental limitation to the robustness and reliability of FSO systems. Although these communications systems remain unaffected by snow or heavy rain, they can be severely damaged by fog and atmospheric turbulence.
Nevertheless, service providers are able to launch advanced FSO systems with the increasing investment in research and development activities. The latest technological advancements promise to eliminate the impact of aforementioned interferences. Efforts are also underway to cancel the effects of scintillation on the overall quality of transmitted signal with the help of spatial diversity.
The study is based on findings of TMR in a report, titled “Free Space Optics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
The report segments the global free space optics market as:
Free Space Optics Market, by Components”
- Encoders & Decoders
Free Space Optics Market, by Application:
- Storage Area Network
- Data Transmission
- Airborne Applications
- Disaster Recover
- Last Mile Access
Free Space Optics Market, by Geography:
- North America
- Asia Pacific
- Middle east and Africa
- Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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