Passive Optical Network Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Passive Optical Network Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Passive Optical Network Global Market Report 2024, The passive optical network market size has grown rapidly in recent years. It will grow from $19.35 billion in 2023 to $22.64 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to increasing bandwidth demand, fiber optic network expansion, cost-efficiency, telecommunication network upgrades, rising Internet penetration.

The passive optical network market size is expected to see rapid growth in the next few years. It will grow to $43.47 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to 5G network integration, smart cities and IoT expansion, rural broadband initiatives, environmental sustainability. Major trends in the forecast period include remote work and digitalization, technological advancements, network virtualization and software defined networking, next-generation PON standards.

Increasing penetration of telecom and internet services is driving the growth of the passive optical network market. The increasing penetration of telecom and internet services, as well as the expanding requirement for bandwidth, will drive the market. Demand for ethernet passive optical network (EPON) equipment is expected to rise as data-intensive applications such as video on demand, videoconferencing, and Voice over Internet Protocol (VoIP) become more popular. For instance, in April 2022, according to We Are Social, a UK-based socially-led creative agency, in 2022, the global internet user count reaches 5 billion, marking an increase of nearly 200 million compared to the previous year, 2021. Therefore, demand for passive optical networks will rise with the increasing penetration of telecom and internet services.

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The passive optical network market covered in this report is segmented –

1) By Component: Optical Power Splitters, Optical Filters, Wavelength Division Multiplexer/De-Multiplexe

2) By Structure: Ethernet Passive Optical Networks (EPON), Optical Network Terminal (ONT), Optical Line Terminal (OLT), Gigabit Passive Optical Network (GPON), Optical Network Terminal (ONT), Optical Line Terminal (OLT)

3) By Application: Residential Service (FTTH), Business Service (Other FTTx), Mobile Backhaul

Major companies operating in the passive optical network market are focused on developing innovative solutions such as end-to-end Passive Optical Network (PON) access solutions. An end-to-end PON access solution refers to a comprehensive and integrated set of components and technologies that enable the deployment of a PON system from the central office or data center to the end-user premises. For instance, in September 2023, Precision Optical Technologies Inc., a US-based system engineering and integration company announced the launch of ‘OpenPath’. This innovative solution includes essential elements of a PON network, such as Optical Line Terminals (OLTs), optical components, splitters, Optical Network Units (ONUs), and state-of-the-art controller software. It enables network operators to deploy their own passive optical network’s on the required timelines.

The passive optical network market report table of contents includes: