Free Space Optic Communication Market to Reach $4.8 Billion, Globally, by 2031 at 31.3% CAGR: Allied Market Research

The increase in demand for high-speed data transmission in military sector, increase in the development of private LTE networks, and the necessity for secured and high-speed optical communications drive the growth of the global free space optic communication market.

PORTLAND, Ore., April 4, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Free Space Optic Communication Market by Platform (Space, Airborne, Ground), by Component (Transmitter, Transceiver, Receiver, Others), by Application (Mobile Backhaul, Disaster Recovery, Enterprise Connectivity, Defense, Satellite, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global free space optic communication industry generated $347.5 million in 2021, and is anticipated to generate $4.8 billion by 2031, witnessing a CAGR of 31.3% from 2022 to 2031.

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Prime Determinants of Growth

The increase in demand for high-speed data transmission in military sector, increase in the development of private LTE networks, and the necessity for secured and high-speed optical communications drive the growth of the global free space optic communication market. Moreover, the widespread rise in adoption of 5G technology presents new opportunities in the coming years.

Covid-19 Scenario

• The outbreak of the Covid-19 pandemic had a negative impact on the global free space optic communication market, especially in the initial period of lockdown.
• With governments of several nations imposing and extending lockdowns, production and manufacturing facilities across the globe had been shut down, leading to crisis and unavailability of workforce.
• Furthermore, the outbreak of the pandemic caused severe disruptions in the global supply chain, thereby creating a significant gap in the supply chain. The economic impact of the pandemic had been disruptive. Key players operating in the free space optic communication industry temporarily witnessed a slowdown, owing to lack of availability of raw materials.
• However, the market started recovering from 2021 and will remain in the growth stage during the forecast period.

The Ground Segment to Maintain its Leadership Status Throughout the Forecast Period

Based on platform, the ground segment held the highest market share in 2021, accounting for more than two-fifths of the global free space optic communication market, and is estimated to maintain its leadership status throughout the forecast period. Free space optic technology plays a vital role in establishing communication links between ground platforms, including buildings, towers, and other fixed structures. FSO communication provides high-speed, secure, and reliable communication links between different ground platforms, enabling data transmission, video streaming, and other applications. However, the space segment is projected to manifest the highest CAGR of 32.49% from 2022 to 2031. Free space optic communication can be used for communication links between space platforms, such as space stations, space habitats, and other space structures. In space communication, free space optic technology can provide an alternative to traditional radio frequency (RF) communication, which has limitations in terms of bandwidth, power consumption, and interference.

The Transceiver Segment to Maintain its Leadership Status Throughout the Forecast Period

Based on component, the transceiver segment held the highest market share in 2021, accounting for nearly half of the global free space optic communication market, and is estimated to maintain its leadership status throughout the forecast period. The performance of the transceiver is critical to the overall performance of the free space optic communication system. Thus, major players are investing heavily in developing advanced transceivers to gain a competitive advantage in the market. However, the receiver segment is projected to manifest the highest CAGR of 32.52% from 2022 to 2031. The receiver plays a significant role in free optic communication technology and the performance of the receiver is critical to the overall performance of the free space optic communication system.

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North America to Maintain its Dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global free space optic communication market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 32.86% from 2022 to 2031. Key players operating in this region have been adopting various strategies to provide advanced solutions, which is expected to fuel market growth. North America offers suitable infrastructure, owing to the availability of prime vendors across the countries such as the U.S. and Canada, resulting in surge in demand for smart infrastructure solutions in this region.

Leading Market Players: -

• ViaSat, Inc.,
• Mynaric,
• Axiom Optics,
• Wireless Excellence Limited,
• Plaintree Systems Inc.,
• QinetiQ Group plc,
• Mostcom JSC,
• FSONA Networks Corporation,
• Collinear,
• EC System

The report provides a detailed analysis of these key players of the global free space optic communication market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the free space optic communication market analysis and free space optic communication market outlook from 2021 to 2031 to identify the prevailing market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global free space optic communication market trends, key players, market segments, application areas, and market growth strategies.

Free Space Optic Communication Market Key Segments:

Platform
• Space
• Airborne
• Ground

Component
• Transmitter
• Transceiver
• Receiver
• Others

Application
• Mobile Backhaul
• Disaster Recovery
• Enterprise Connectivity
• Defense
• Satellite
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

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