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Market SynopsisMarket Research Future (MRFR), in its latest report on the global Optical Switches market 2020, reveals different aspects of the market and potential forces that can impact the market dynamics.
As per MRFR data, the optical switches market is expected to reach a valuation of USD 8.61 billion by 2024, at a CAGR of 14.05%, across the review period.
The global market was valued at USD 3.98 billion in 2018, according to the report.Market ScenarioThe rising data traffic and the consequent rise in demand for high data transfer rates and a decrease in energy consumption drive the industry demand for optical switches.
Owing to driving factors such as increased demand for high bandwidth and data transfer rates, the is expected to grow during the forecast period.
At the other hand, the growing number of data centers creates substantial opportunities for market players operating in the global optical switch market to expand.Market SegmentationBy type, the market has been segmented into acousto optical switches, liquid crystal optical switches, bubble optical switches, fiber Bragg grating-based optical switches, mechanical optical switches, magneto-optical switches, and others.
However, the offline distributor segment is expected to register the highest CAGR during the forecast period.By application, the market has been segmented into optical switching, fiber restoration and optic component testing, optical add-drop multiplexing, optical cross-connects (OXC), signal monitoring, and others.




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