Free Space Optics Communication Market Report
Free Space Optics Communication Market Trends, Dynamics & Market Insights See less
Free Space Optics Communication Market Trends, Dynamics & Market Insights
Free Space Optics Communication Market is segmented By Platform (Airborne, Terrestrial, Satellite), By Application (Disaster Management, Last Mile Access, Data Transmission, Storage Area Network), By End-Use (Healthcare, Defense, Telecommunication, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global free space optics communication market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Free Space Optics Communication Market is segmented By Platform (Airborne, Terrestrial, Satellite), By Application (Disaster Management, Last Mile Access, Data Transmission, Storage Area Network), By End-Use ...
The Free Space Optics Communication Market is estimated to grow from USD 420.6 million in 2020 to USD 2682.4 million by 2026 at a healthy CAGR of 36.7% during the forecast period.
Free Space Optics (FSO) communication technology is the method of optical wireless communication that wirelessly conveys data through light propagation in free space. FSO communication technology is massively suitable for performing data transmission in localities that are not suitable for physical connections.
Key players operating in the free space optics communication market are-
The growing need for reliable and quick wireless communication as well as increasing demand for widespread digital connectivity is likely to boost the market growth. The last-mile connectivity, alternative solution to overburdened RF technology for outdoor networking, and no licensing are some of the other key factors augmenting the product demand. In addition, due to rising innovation in the technology and communication sector, FSO communication is anticipated to create immense growth opportunities for the industry players.
Based on application, the free space optics communication market is classified into disaster management, last-mile access, data transmission, and storage area network. The data transmission segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to the free space optics technology’s ability to confer optical bandwidth connections, which transfer the data, such as audio, documents, and video, through an invisible light beam, thereby bolstering the segment growth.
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to advanced infrastructure, rising manufacturing facilities, and the growing computer-aided design (CAD) industry. Moreover, the rapid development and expansion of the IT and telecommunications sector further proliferate regional market growth.
The COVID-19 outbreak has moderately affected the free space optics communication industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and the telecommunication sector. The COVID-19 outbreak will certainly delay the deployment of Li-Fi technology, thus affecting every stakeholder in the supply chain.
Here is the list of the group of customers that the free space optics communication market hopes to have the greatest opportunity to convert-
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The free space optics communication market size is expected to reach USD 2682.4 million in the coming years.
AIRLINX Communications, Inc. (US), Anova Financial Networks (US), CableFree: Wireless Ex-cellence (UK), fSONA Networks Corporation (US), L3Harris Technologies, Inc. (US), Lightpointe Communications, Inc. (US), Mostcom Ltd. (Russia), Mynaric AG (Germany), Plaintree Systems Inc. (Canada), and SA PHOTONICS, INC. (US) are among the key players in the free space optics communication market.
The free space optics communication market is expected to witness an impressive growth of 36.7% CAGR in the foreseeable future.
The data transmission segment is expected to register healthy CAGR in the free space optics communication in the coming years.
Asia-pacific is expected to grow at a substantial CAGR in the free space optics communication market during the forecast period.
Free space optics communication vendors, Free space optics communication retailers, Telecommunication companies, Healthcare companies are the target audience in the free space optics communication market.