Rise in the demand for high bandwidth applications globally is expected to generate sizable growth prospects in the global passive optical LAN (POL) market in the upcoming years. Synchronous optical network, loop feeder, interoffice, fiber in the loop, synchronous digital hierarchy systems, and hybrid fiber-coaxial cable (HFC) are some of the key applications of the passive optical LANs.
The global passive optical LAN market is estimated to expand at a CAGR of 23.6% during the forecast period of 2021 to 2031, notes a study by Transparency Market Research. Moreover, the market is expected to gain a valuation of US$ 295 Bn by 2031. The TMR report provides in-depth analysis of major factors influencing the growth curve of the global passive optical LAN market. Hence, this study covers thorough assessment on growth drivers, growth restraints, regional analysis, R&Ds, historical and present trends, and competition landscape of the passive optical LAN market.
Manifold Advantages of Product Drive Sales Opportunities in Passive Optical LAN Market
Passive optical LAN systems are gaining traction owing to their varied advantages such as reliability, energy-efficiency, and durability. Hence, the demand for these systems is increasing around the world, which in turn, is fueling the sales growth in the global passive optical LAN market. This aside, POLs are being increasingly adopted across a wide range of end-use industries such as the automobile and consumer electronics industry owing to their advantages including efficiency, speed, cost-effectiveness, scalability, and sustainability. This factor is leading to revenue-generation opportunities in the passive optical LAN market.
The passive optical LAN market is estimated to gain lucrative avenues in the upcoming years owing to factors such as development of systems administration in many emerging economies, technological advancements, and the growth of the fiber optic networks. Furthermore, increase in awareness about innovative headways and exploration framework globally is prognosticated to drive the sales growth in the passive optical LAN market years ahead. Optical network terminal, optical cables, optical splitter, and optical line terminal are some of the key components of passive optical LANs.
Companies operating in the passive optical LAN market are increasing focus on their business expansions. Hence, they are executing different strategies such as mergers, acquisitions, and partnerships. Moreover, many players in the passive optical LAN market are investing heavily in R&Ds in order to develop advanced products. This aside, leading companies in the passive optical LAN market are increasing new product launch activities in order to strengthen their product portfolio. Such efforts are anticipated to drive the expansion of the global passive optical LAN market in the years ahead.
Some of the key players operating in the global passive optical LAN (POL) market include AFL, Nokia, Ericsson Inc., Alcatel Lucent SA, ADTRAN, Inc., Huawei Technologies Co. Ltd., ZTE Corporation, TE Connectivity Ltd., and Verizon Communications Inc.
Asia Pacific: Prominent Region Offering Sizable Growth Prospects in Passive Optical LAN Market
Europe, North America, Middle East & Africa, Asia Pacific, and South America are some of the key regions of the global passive optical LAN market. Of them, Asia pacific is one of the prominent regions for market players owing to many factors including increase in the demand for passive optical network in several developing nations including India and China. Furthermore, rise in the demand for more bandwidth in the region is projected to fuel the Asia Pacific passive optical LAN market in the forthcoming years.