North America Coherent Optical Equipment Market Forecast 2019-2028
The North America coherent optical equipment market is projected to evolve at a CAGR of 8.94% during the forecast period, 2019-2028. The region is a witness to the high adoption of smartphones and mobile broadband, along with rising internet penetration. 4G connections in Canada and the US accounted for 68% and 70%, respectively, of the total connections in 2017. This has resulted in an increasing demand for optical solutions in the region. The region also entails surging demands for fiber optic cables and IoT devices.
The countries evaluated in the North America coherent optical equipment market analysis include Canada and the United States. Mobile penetration is high in Canada and stands at 86%. The companies leverage IoT to reduce costs by improving existing processes, collecting data that provide valuable new insights, and realization of new efficiencies. Companies are replacing their existing copper wire networks with modern fiber optic cables. With the 5G network, the new providers will be able to compete for a considerable number of Canadian households. This will result in lower prices and increased levels of innovation. This will further drive the market growth.
Government initiatives, like the commitment to connect to reliable high-speed internet, and the appropriate funding for the same, are beneficial for the market. The government is also set to work with partners for achieving universal 50 Mbps download and 10 Mbps upload speeds, along with enhanced access to the latest mobile wireless services. All such factors are slated to positively influence market growth.
Some of the leading companies present in the market are Huawei Technologies Ltd, Infinera Corporation, NEC Corporation, Fujitsu Limited, ECI Telecom, etc.
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