Northbrook, IL -- (SBWire) -- 06/02/2021 --According to a new market research report "Optical Wavelength Services Market by Bandwidth (Less than 10 Gbps, 40 Gbps, 100 Gbps, and More than 100 Gbps), Application (SONET, Ethernet, and OTN), Interface (Short Haul, Metro, and Long Haul), Organization Size, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the global OWS market size expected to grow from USD 3.3 billion in 2018 to USD 4.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period. The adoption rate of OWS solutions is expected to grow, owing to the increasing demand for high-speed internet and bandwidth-intensive applications, and a need for minimizing capital expense and IT resource.
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Among interface areas, the Ethernet segment to hold the highest market share during the forecast period
In OWS, Ethernet carries the highest market share as it is a cost-effective option for server connectivity. As compared to other interfaces, i.e. OTN and SONET, Ethernet has the highest number of installations and offers top cost performance among others. Gigabit Ethernet is the extended version of Ethernet which can offer tenfold speed than the traditional Ethernet. Wavelength services enable high bandwidth gigabit Ethernet network connections to be deployed faster.
Among application, the metro segment holds largest market share during the forecast period
The increasing bandwidth demand and connectivity between Data Centers (DCs) along with adoption of consumer 4K and higher video content and services on n number of devices are major drivers for the adoption of metro applications. Most of the service providers are looking forward to increase the wavelength speed by moving to metro applications.
In terms of regions, North America to account for the largest market size during the forecast period
North America is expected to be the main revenue contributor to the OWS market. The growth in this region is expected to be driven by the presence of prominent OWS providers, such as Zayo, Verizon, GTT, CenturyLink, and AT&T. Moreover, the presence of a large number of optical wavelength solution providers in the country creates a healthy competition, which would benefit the growth of OWS in the future.
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In the OWS market, the key and emerging market players include Zayo Group (US), Nokia (Finland), Verizon (US), GTT (US), CenturyLink (Louisiana), AT&T (US), Sprint (US), Comcast (US), Colt Technology Solution (UK), Crown Castle (US), Windstream Enterprises (US), Charter Communications (US), Cox Communications (US), Jaguar Network (France), and CarrierBid (US).
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Optical Wavelength Services Market Guided to Reach $4.9 Billion by 2023
The research report categorizes the Optical Wavelength Services market to forecast the revenues and analyze trends by Bandwidth (<=10Gbps, 40Gbps, 100Gbps, >100Gbps), Interface (SONET, OTN, Ethernet), Application (Short Haul, Metro, Long Haul), Organization Size (SMEs and Large Enterprises), and Regions.