In the last couple of years, the technology of global free space optics market has witnessed a significant increase in its demand across several applications worldwide. The adoption of free space optics among various service providers is also expected to rise over the coming years. The rising prominence of the free space optics technology is chiefly driven by the growing demand for high speed connectivity at a comparatively low price and the problems regarding the installation of fiber optics network. The enormous increase in the installation of free space optics technology in the associated high-speed networking technologies such as 4G and 3G is primarily due to its easy installation and swift deployment. This is also benefiting the market in terms of its expansion across the globe.
In terms of geography, North America dominated the global market for free space optics in 2015 and was closely trailed by Europe. In 2015, Europe and North America collectively held a share of above 60% in the market. The growth of the market in these regions can be attributed to the timely penetration of the latest technologies and a considerable rise in the research and development activities. However, in the next few years, the Asia Pacific market for free space optics is anticipated to witness strong progress owing to the development of IT and telecommunication sectors such as China and India. The free space optics in Asia Pacific is also expected to give tough competition to the mature markets.
The global market for free space optics is expected to expand at an outstanding CAGR of 39.5% from 2016 to 2024. The market is projected to be worth US$1,306.1 mn by the end of 2024 from a valuation of US$81.3 mn in 2015.
Secure Data Transmission to Emerge Leading Revenue Generator for Free Space Optics Market
The chief application fields of free space optics include disaster recovery, airborne applications, healthcare, security, last mile access, defense, storage area network, and data transmission. Among these, the data transmission segment emerged dominant in the global free space optics market in 2015 owing to features such as high security in comparison to various other wireless transmission technologies, thus enhancing its adoption in the security and defense sector. The defense sector held a significant share in terms of consumption of free space optics. The installation of free space optics across various sectors has been persistent owing to high security features, less consumption of power, low error rates, and high bandwidth capacity. The growing demand for free space optics across other sectors such as airborne travel and healthcare is further expected to boost the market growth.
Reliability of Free Space Optics in Question owing to Signal Quality Restraints
In many optical wireless technologies, the light that is transmitted through free space is contends with the interference offered by the complexity of the immediate space. Space through which FSO signals are transmitted provides a major limitation to the robustness and reliability of the FSO systems. Thus, these elements are expected to make the consumers uncertain about the use of FSO systems and restrain the development of the market.
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Some of the leading companies in the market are Wireless Excellence Limited, fSONA Networks Corp., Anova Technologies, Harris Corporation, LightPointe Communications, AOptix Technologies Inc., Mostcom Ltd., and Trimble Hungary Ltd.