In a recent published report, Kenneth Research has updated the market report for Free Space Optics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Free Space Optics Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
Global Free Space Optics Market is estimated to reach $1223.1 Million by 2024 with CAGR of 36.4% between 2016 and 2024. Free space optics, also known as free space photonics, is an optical communication technology that propagates infrared beams or light through the outer space or atmosphere to attain broadband communications. This technology can be installed globally without any license. They cost less and required less maintenance as compared to the fiber networks. It has also developed a new category of outdoor wireless devices that have the ability to transmit voice, data and video at bandwidths up to 1.25 Gbps. The factors supplementing the growth of the free space optics market are rising demand for 3G & 4G in emerging economies and increased demand for data streaming and multimedia services. Moreover, increasing investments in telecommunication infrastructure and high adoption of free space optics among military and healthcare also boosts the growth of the market. Though, environment commotions might restrain the growth of the market. Furthermore, advanced technologies and emerging markets might provide market opportunities in coming years.
The global free space optics market is categorized as component, application and geography. By component type, it is further segmented into receiver, encoder & decoder, modulator, transmitter, demodulator and others. Furthermore, application is segmented into defense, security, storage area network, airborne application, healthcare, disaster recovery, data transmission, last mile access and others.
By geography the free space optics market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include pureLiFi Ltd., Panasonic Corp., Anova Technologies, Wireless Excellence Ltd., LightPointe Communications, Inc., General Electronics Co., Fujitsu Ltd., Lightbee Corp., Harris Corporation, Trimble Hungary Ltd., Outstanding Technology, and Koninklijke Philips N.V. among others.
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The key takeaways from the report:
The report will provide detailed analysis of Free Space Optics Market with respect to major segments such as component and application type of the market. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities. An exhaustive regional analysis of Free Space Optics market.
Profile of key players of the Free Space Optics market, which include key financials, product & services and new developments.
Scope of Free Space Optics Market:
Component Segments
Receiver
Encoder & Decoder
Modulator
Transmitter
Demodulator
Others
Application Segments
Defense
Security
Storage Area Network
Airborne Application
Healthcare
Disaster Recovery
Data Transmission
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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