Optical Switches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Optical Switches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global optical switches market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.8% during 2023-2028.

Optical switches enable signals in optical fibers or integrated optical circuits (IOCs) to switch selectively from one circuit to another. They operate via electro- or magneto-optic effects or through mechanical methods like physically shifting an optical fiber for driving one or more alternative fibers. They can transmit light signals between different channels in communication networks. At present, optical switches are employed in the retail, manufacturing, defense, telecommunications, and banking, financial services and insurance (BFSI) industries worldwide.

Optical Switches Market Trends:
The increasing automation in different industry verticals represents one of the key factors driving the market. Moreover, optical switches are used in high-speed networks, wherein large switches are required for handling enormous traffic. They also find extensive applications in external modulators, network monitors, optical cross-connects (OXCs), optical add-drop multiplexers (OADM), and fiber optic component testing. Besides this, they are utilized in fiber communication systems for restoration, wavelength routing, and fiber management. In addition, when a fiber fails, optical switches allow signals to be rerouted to another fiber before the problem occurs, and consequently, they are utilized for switching protection. This, along with rising technological advancements, is impelling the growth of the market. Apart from this, optical switches include slow optical switches, which are used for alternate routing of an optical transmission path, such as routing around a fault. They also comprise fast optical switches that further find application in performing logic operations. Additionally, rapid improvements in hardware for reconfigurable optical networks have resulted in the development of more scalable optical switches with faster response times. This, coupled with the rising focus on digital transformation around the world, is positively influencing the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global optical switches market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, enterprise size, application and industry vertical.

Breakup by Type:

Electro-Optic Switching
Acousto-Optic Switching
Thermo-Optic Switching
Liquid Crystal-Based Switching
Mems-Based Switching
Others

Breakup by Enterprise Size:

Small and Medium-sized Enterprise
Large Enterprises

Breakup by Application:

Circuit Switching
Testing
Multiplexing
Cross-Connects
Signal Monitoring

Breakup by Industry Vertical:

Government and Defense
IT and Telecom
BFSI
Retail
Manufacturing
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Agiltron Inc., D-Link Corporation, EMCORE Corporation, Fujitsu Limited, Furukawa Electric Co. Ltd., Huawei Technologies Co. Ltd., Juniper Networks Inc., Keysight Technologies Inc., Nokia Corporation, NTT Advanced Technology Corporation (The Nippon Telegraph and Telephone Corporation), OMRON Corporation and Yokogawa Electric Corporation.

Key Questions Answered in This Report

1. What was the size of the global optical switches market in 2022?
2. What is the expected growth rate of the global optical switches market during 2023-2028?
3. What are the key factors driving the global optical switches market?
4. What has been the impact of COVID-19 on the global optical switches market?
5. What is the breakup of the global optical switches market based on the type?
6. What is the breakup of the global optical switches market based on the application?
7. What are the key regions in the global optical switches market?
8. Who are the key players/companies in the global optical switches market?