 |
| Passive Optical Network Equipment Market |
Passive optical network equipment includes optical line terminals, optical network terminals, splitters, and connectors. These components transmit data using light signals through optical fibers and allow broader network transmission capacity without active electronic components. The rising demand for higher bandwidth connectivity and reliable data transmission in residential as well as commercial sectors is driving the adoption of passive optical networks.
The global passive optical network equipment market is
estimated to be valued at US$ 26.41 Bn in 2024 and is expected to exhibit a
CAGR of 7.6% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the Passive optical network equipment market are BASF
SE, Sika AG, Wacker Chemie AG, Dudick Inc., ACO Group, Kwik Bond Polymers LLC,
Sauereisen Inc., Hubbell Power Systems Inc., Forte Composites, Inc., Ulma -
Architectural Solutions, and Sandmix. These players are focusing on new product
launches and geographical expansion to gain a competitive edge in the market.
The growing demand for high-speed fiber connectivity and increasing investments
by telecom operators in fiber infrastructure development present significant
growth opportunities in the market. Asia Pacific accounts for the largest share
in the global passive optical network equipment market owing to rapid
industrialization and increasing FTTH connections in countries such as China
and India. Europe and North America are also anticipated to witness high growth
owing to increasing installation of passive optical LAN in enterprises.
Market Drivers: The rapidly growing data traffic owing to rising internet
penetration, increasing adoption of data-intensive online services such as
video streaming, and growing popularity of IoT based applications are driving
the demand for passive optical networks. Passive optical networks provide
high-speed internet connectivity at affordable prices and support more
simultaneous users as compared to copper cables. This has accelerated the
adoption of passive optical equipment globally.
Market Restrains: High initial capital requirements for setting up fiber
infrastructure pose a major challenge for widespread adoption of passive
optical networks, especially in underdeveloped regions. Insufficient skilled
workforce for installation and maintenance of passive optical equipment is
another concern restraining market growth.
Segment Analysis
The Passive
Optical Network Equipment Market Demand is segmented based
on composition, application and end use industry. Within composition segment,
cementitious segment holds the largest share due to wide applicability and low
cost of cementitious materials. The epoxy segment is expected to grow at
highest CAGR during the forecast period owing to excellent chemical and
mechanical properties of epoxies.
In terms of application, repair applications segment dominates the market.
Within repair applications, repair of industrial floors, bridge deck repair,
and parking structure repair sub segments together account for majority share.
The new construction segment is forecasted to witness fastest growth on account
of rising construction activities across the globe.
Among end use industries, infrastructure development dominates the market. Road
and bridge construction sub segment under infrastructure development holds
major share due to ongoing projects in developing nations. The commercial
construction segment is likely to increase at highest CAGR during the analysis
period ascribed to rapid urbanization and growth of real estate sector in Asia
Pacific and Middle East Africa regions.
Global Analysis
On regional grounds, Asia Pacific region accounts for maximum share in global
Passive Optical Network Equipment market. Presence of emerging economies like
China and India experiencing strong infrastructure growth contributes to its
leading position. Europe and North America are other major markets owing to
rising repair and renovation activities. Latin America and Middle East Africa
are projected to showcase fastest growth over the forecast period creditable to
ongoing construction of roads, railways and power projects in these regions.
0 Comments