Global Passive Optical Network Market Report 2024: Size, Drivers, And Top Segments
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The passive optical network market has seen rapid growth, advancing from $19.35 billion in 2023 to $22.64 billion in 2024, with a compound annual growth rate (CAGR) of 17.0%. The historical surge is driven by factors such as the increasing demand for bandwidth, the expansion of fiber optic networks, cost-efficiency, upgrades in telecommunication networks, and the rising penetration of the Internet. Looking forward to 2028, the market is anticipated to continue its rapid growth, reaching $43.47 billion with a CAGR of 17.7%. The projected growth in the forecast period can be attributed to the integration of 5G networks, the expansion of smart cities and IoT initiatives, rural broadband initiatives, and a growing focus on environmental sustainability. Significant trends in the forecast period include the prevalence of remote work and digitalization, continuous technological advancements, network virtualization, and software-defined networking, along with the evolution of next-generation PON standards.
The expansion of the passive optical network market is fueled by the increasing penetration of telecom and internet services, coupled with the growing demand for bandwidth-intensive applications. The proliferation of telecom and internet services, alongside escalating bandwidth requirements, is driving the market for passive optical networks. With the rising popularity of data-intensive applications such as video on demand, video conferencing, and Voice over Internet Protocol (VoIP), the demand for ethernet passive optical network (EPON) equipment is expected to soar. According to We Are Social’s April 2022 report, the global internet user count surpassed 5 billion in 2022, marking a significant increase from the previous year. This surge in internet users underscores the rising demand for passive optical networks, reflecting market growth in 2023, 2024, and beyond.
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What Are The Key Trends That Influence Passive Optical Network Market Share Analysis?
Companies in the passive optical network market are focusing on technological advancements to improve the speed and efficiency of networks. Companies are shifting from the existing gigabit ethernet passive optical network (GPON’s) 2.5Gbit/s and 1.25Gbit/s data rates to XGS-PON’s maximum 10Gbit/s symmetric speeds and technologies such as Next-Generation Passive Optical Network 2 (NGPON2) and 25 Gigabit Symmetrical Passive Optical Network (25GS-PON). For instance, in 2021, Nokia established the 25GS_PON MSA Group to bring together optical network operators along with leading system and component vendors, to promote and accelerate the development and deployment of 25GS-PON technology.
Which Market Players Are Driving Growth In The Passive Optical Network Market?
Major companies operating in the passive optical network market report are Verizon Communications Inc., Huawei Technologies Co Ltd., Hitachi Ltd., Cisco Systems Inc., Mitsubishi Electric Corporation, Broadcom Corporation Inc., Fujitsu Ltd., Telefonaktiebolaget LM Ericsson, Nokia Corporation, Sumitomo Electric Industries Ltd., NEC Corporation, ZTE Corporation, Corning Inc., Freescale Semiconductor Inc., NXP Semiconductors, Motorola Solutions Inc., FiberHome Technologies Group, Ciena Corporation, Lumentum Operations LLC, Infinera Corporation, Finisar Corporation, ADTRAN Inc., Calix Inc., Tellabs Inc., Acacia Communications Inc., ADVA Optical Networking SE, Oclaro Inc., NeoPhotonics Corporation, Source Photonics Inc., Alphion Corporation, TP-Link Technologies Co Ltd.
How Is The Global Passive Optical Network Market Segmented?
The passive optical network market covered in this report is segmented –
1) By Component: Optical Power Splitters, Optical Filters, Wavelength Division Multiplexer/De-Multiplexe
2) By Structure: Ethernet Passive Optical Networks (EPON), Optical Network Terminal (ONT), Optical Line Terminal (OLT), Gigabit Passive Optical Network (GPON), Optical Network Terminal (ONT), Optical Line Terminal (OLT)
3) By Application: Residential Service (FTTH), Business Service (Other FTTx), Mobile Backhaul
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The Passive Optical Network Global Market Report 2024 provides an overview of the passive optical networkmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The passive optical network market forecast analyzes passive optical network market size, passive optical network market share, leading competitor and their market positions.
The Table Of Content For The Passive Optical Network Market Include
1. Passive Optical Network Market Executive Summary
2. Passive Optical Network Market Segments
3. Passive Optical Network Market Size And Template Market Growth Rate
4. Key Passive Optical Network Market Trends
5. Major Passive Optical Network Market Drivers
……
25. Key Mergers And Acquisitions In The Passive Optical Network Market
26. Top Passive Optical Network Companies
27. Passive Optical Network Market Opportunities And Strategies
28. Passive Optical Network Market, Conclusions And Recommendations
29. Appendix
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