Ever Expanding Telecommunication Industry Drives The Global Free Space Optics Market

Global Free Space Optics Market is expected to reach $1223.1 Million by 2024 from $101.9 Million in 2016, growing at a CAGR of 36.4% from 2016 to 2024. By geography, Asia-Pacific and North America are expected to grow at a CAGR of 38.1% and 36%, respectively, during the forecast period.

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The Global free space optics market is driven by rising demand for multimedia service and data streaming and also by the ever-expanding telecommunication industry. Also, the other key factors driving the growth in market are less energy consumption, no bandwidth limitation, safer and faster transfer of data compared to other existing technologies, safer technology, and others. Moreover, increasing applications of free space optics into healthcare, military and large usage of 3G and 4G technologies in emerging economies assist in the growth of free space optics market.

The Global free optics market is segmented on the component, application, transmission, and geography. In the year 2016, the segmentation by component was accounted as transmitter for 28.6% and receiver for 26.7%. Moreover, in application segment, due to the high usage of internet, data transmission holds the largest share of 21.52%, followed by defense 20.39%, due to the increasing budget for the military.

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Geographically the market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounted the highest share of the market followed by Europe in the year 2016. The fastest growing region in Global free space market is Asia-Pacific and is expected to hold this trend due to heavy investment on infrastructure, development of smart cities, emerge of technology start-ups companies, and increasing expenditure by government.

The key market players include Harris Corporation, Outstanding Technology, Fujitsu Ltd., Wireless Excellence Ltd., Panasonic Corp., Anova Technologies, LightPointe Communications Inc., General Electronics Co., Koninklijke Philips N.V., and pureLiFi Ltd., among others.

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Scope of Free Space Optics Market

Component Segments

• Transmitter
• Receiver
• Modulator
• Demodulator
• Encoder & Decoder
• Others

Application Segments

• Security
• Airborne Application
• Healthcare
• Storage Area Network
• Data Transmission
• Defense
• Disaster Recovery
• Last Mile Access
• Others

Geography Segments

• North America
• US
• Canada
• Mexico
• Europe
• U.K.
• Italy
• France
• Germany
• Others
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Others
• RoW
• South America
• Middle East
• Africa

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