Industrial revolution 4.0 has been transforming industrial processes. It offers benefits such as increased process innovations, lower manufacturing costs and improved business efficiency. Rapid adoption and deployment of Industrial Revolution 4.0 technologies is creating demand for industrial transceivers around the globe.
Attributing to high competition, business entities are adopting automated business processes and relying on advanced next-generation technologies. In order to stay competitive, organizations are investing an immense amount of funds on IT infrastructure. At present, all types of business entities have presence on the Internet and business network connections.
In the current scenario, internet device connectivity is a prime concern for numerous businesses. In order to establish secure and robust device connectivity, business entities are adopting advanced transceivers. Attributing to this, the industrial transceivers market has been witnessing high growth in several developed and developing nations.
Industrial transceivers are network devices that constitute transmitters and receivers to combine and share signal housing or common circuit. The growing need for data transfer capacity and storage processing for the data communication and telecommunication network is impelling the growth of the industrial transceivers market globally.
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Industrial Transceivers Market: Market Dynamics
The increasing adoption of industrial transceivers in the telecommunication industry is fuelling the growth for the industrial transceivers market around the globe. Several industry vertical such as ITES, consumer electronics, healthcare and pharmaceuticals are also emerging as key sources of demand for industrial transceivers. On the other hand, the rapid growth of IT infrastructure and IT-based solutions in many industries is creating demand for industrial transceivers around the globe.
The current trends towards the high speed network transmission and growing demand from data centers, coupled with the global adoption of the internet, are among the key growth drivers for the industrial transceivers market. Furthermore, industrial transceivers are used to upgrade and enhance telecommunication networks of data centers. These factors are also expected to create potential growth opportunities for industrial transceivers during the forecast period.
Rapidly changes in networks and telecommunication technologies are projected to pose a challenge for the industrial transceivers market. Other major challenges in the industrial transceivers market are low capital investment on IT infrastructure and telecommunication network and the development and utilization of next-generation technologies.
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Industrial Transceivers Market: Segmentation
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Prominent players in the global industrial transceivers market are NeoPhotonics Corp., Finisar Corp., Lumentum Holdings Inc., Oclaro, Inc., Ltd., Foxconn Electronics Inc., Fujitsu Optical Components Ltd., Reflex Photonics Inc., and Source Photonics Inc., Accelink Technologies Co., Ltd. and Sumitomo Electric Industries.
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On the basis of geography, Asia Pacific is pegged to be an attractive market for industrial transceivers, owing to increasing digitization of various industry verticals in India, China, Japan and others Asian countries. In Asia Pacific, SFP, SFP+, X2, XFP and other transceivers are gaining traction, which is expected to support the growth of the industrial transceivers market in Asia Pacific. Moreover, the early deployment of 5G in North America and Europe is also expected to drive the growth of the industrial transceivers markets in these regions.
In addition, rapid proliferation of the internet in MEA countries such as United Arab Emirates is making MEA a demand generating region for the industrial transceivers market. Up gradation in existing telecommunication networks and the demand for sophisticated communication networks are positively supporting the growth of the industrial transceivers market in Latin America.