Rising adoption in IT & telecom sector to propel revenues in free space optics (FSO) communication market; Service providers harness the network for high bandwidth data, voice, and video communications, notably high data rate
Wilmington, Delaware, United States, July 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Free space optics (FSO) companies are garnering stable revenue gains from the rising adoption of the wireless communication technologies for several high-bandwidth applications cost-efficiently. Businesses in the aerospace industry are deploying FSO systems for point-to-point communications particularly for attaining high-data rates. The free space optics (FSO) communication market is projected to advance at CAGR of 31.3% from 2022 to 2031.
The dual propositions of no spectrum licensing requirement and high bandwidth are spurring the demand in IT and telecom industry. The research report on free space optics communication finds that the growing adoption will propel revenue streams for FSO companies. The need for wireless communication with high data rates over long-range distances is expanding free space optics communication market share in global internet connectivity.
Continuous focus on upgrading the existing telecommunication infrastructure especially in developed nations has helped boost the size of free space optics communication market over the years. Growing use of FSO communication technology in aerospace and military applications due to high security and ease of deployment will expand profitable avenues for firms in free space optics (FSO) communication market.
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Key Findings of Free Space Optics (FSO) Communication Market Study
Need for Cost-efficient High Speed and Multi-Gb Data Transfer to Generate Enormous Revenue Potential: Tremendous rise in demand for broadband communication services globally has resulted in the uptick in demand for products/services in the free space optics (FSO) communication market. Service providers are leveraging the optical network architecture to meet the customers’ needs for cost-efficient high speed and multi-Gb data. The fact that FSO communication system can be easily and quickly deployed has steered the use of the technology in data, voice, and video communication. Of note, the analysts have observed that FSO communication is likely to gain popularity in last mile delivery access for service providers. The adoption is expected to rise on back of the benefits of the ease of deployment as well as less time and cost-efficiency.
Growing Application in Military & Aerospace Applications Propelling Revenue Growth: Companies in the free space optics (FSO) communication market are tapping into the abundant avenues in the military applications, including in naval and ship-to-ship communications. In aerospace application, FSO has emerged as an attractive option for broadband fiber optic cables, since the latter are costly to lay down. The massive demand in aerospace and defence sector will unlock abundant opportunities for FSO companies.
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Free Space Optics (FSO) Communication Market: Key Drivers
The past few years have witnessed enormous increase in global demand for high-speed internet connectivity for high-broadband applications, notably in IoT devices and data-intensive consumer gadgets. This has spurred deployment of economic optical wireless communication systems, which thus has been a key force for the evolution of the free space optics (FSO) communication market.
Rise in demand for high data rates communication in various industrial and commercial applications. This has reinforced the prospects for the use of FSO network architecture in enterprise connectivity, security, and surveillance applications.
Free Space Optics (FSO) Communication Market: Regional Growth Dynamics
North America held the major share of the global free space optics (FSO) communication market in 2021. The prominence can be ascribed mainly to the substantial deployment of FSO communication system in military applications, particularly in the U.S. Massive spending on optical wireless network infrastructures. Rise in use of FSO technology in aerospace applications will create ample opportunities during the forecast period.
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Free Space Optics (FSO) Communication Market: Key Players
Some of the key players in the market are Wireless Excellence Limited, Trimble Hungary Ltd., Plaintree Systems Inc., Optelix Pty Ltd., Mostcom Ltd., LightPointe Communications, Inc., LaserOptronics, Inc., Laser Light Communications LLC, Fog Optics Inc., and Anova Technologies Inc. (AOptix).
Free Space Optics (FSO) Communication Market Segmentation
Others (Modulator, Demodulator, etc.)
Security and Surveillance
Others (Enterprise Connectivity, Storage Area Network, etc.)
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IT and Telecommunication
Aerospace and Defense
Others (Healthcare, Industrial, etc.)
Middle East & Africa
Russia & CIS
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