Asia Pacific Coherent Optical Equipment Market Forecast 2019-2028
The Asia Pacific coherent optical equipment market is expected to project a CAGR of 11.82% during the forecast period, 2019-2028. The growing internet penetration in countries like China, Taiwan, and India, the increasing industrialization, and the surging awareness associated with benefits of coherent optical equipment in developing economies, propel the market growth in the region. Further, advancing technologies and growing coherent optical technology in various sectors, are set to enhance the demands.
The Asia Pacific coherent optical equipment market growth analysis entails the evaluation of Japan, South Korea, China, India, Vietnam, Australia & New Zealand, Thailand, Indonesia, and the rest of Asia Pacific. The internet industry in Japan is characterized by voluntary self-regulation. In 2020, SoftBank Corp selected Ericsson for delivering a cloud-native 5G Core for its 5G standalone network. At the same time, Toyota plans to develop next-generation vehicles using 5G standards. It had also previously launched a joint research and development project with the NTT group for connected cars. Such developments are set to influence market growth.
In India, there is a huge demand for the market under study, given the need for high speed data services and expanding 4G network. As per Airtel India, 4G network covers 95.4% of India’s population, through 503883 mobile broadband base stations, further supplemented by 3,04,907 km of fiber. Jio Platforms is set to develop its own 5G solution, which will be ready for deployment in 2021. Such developments entail the integration of optical solutions, which will further impact market growth.
Some of the renowned companies present in the market are Nokia Corporation, Infinera Corporation, NEC Corporation, Huawei Technologies Ltd, Telefonaktiebolaget LM Ericsson (Ericsson), etc.
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