LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global optical interconnect market to grow at a CAGR of above 5% during the period 2018-2022, according to their latest report.
This market research report segments the global optical interconnect market into the following fiber modes (single-mode fiber and multimode fiber), interconnect level (rack level, long-haul level, and chip and broad level), product category (optical transceivers, connectors, and cable assemblies), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the adoption of cloud database as a key factor contributing to the growth of the global optical interconnect market:
Adoption of cloud database
The database consists of multiple servers to provide end-users with the data. Digital format is implemented to store data in a database. Another effective storage medium is the cloud, where data stored on the cloud can be easily accessed. Commercial enterprises require very high storage capacity and need to access information and data from any location, and most of these enterprises use cloud-based storage services.
The cloud database needs to process and combine multiple discrete data items in a single operation. To handle this type of complex data, alternative storage that provides higher performance is essential. Fiber optical interconnects such as transceivers, cable assemblies, and cables offer future scalability, higher capacities, and lower energy.
According to a senior analyst at Technavio for embedded systems, “As cloud-based storage provides better scalability and high storage availability, the demand for its services is increasing. Cloud-based services such as platform-as-a-service and storage-as-a-service have created a huge demand for fiber optical interconnects. The increase in global spending by enterprises on cloud storage is augmenting the demand for fiber optical interconnect for cloud-based applications.”
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Global optical interconnect market segmentation
Of the three major products, the optical transceivers segment held the largest market share in 2017, accounting for nearly 48% of the market. The market share for this product is expected to increase by 2022. The fastest growing product is connectors, which will account for nearly 32% of the total market share by 2022.
APAC was the leading region for the global optical interconnect market in 2017, accounting for a market share of nearly 56%. By 2022, APAC is expected to witness the highest growth rate of nearly 4%.
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