A new market intelligence study has been recently added by Market Research Reports Search Engine (MRRSE) to its vast repository of research reports. The 102-page research study, titled “Free Space Optics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024,” provides an in-depth analysis of the market, focusing on the key growth drivers, limitations, and promising opportunities. Additionally, the key segmentation of the global free space optics market has been discussed at length in the scope of the research report.

According to the study, in 2015, the global free space optics market was worth US$81.3 mn and is predicted to reach US$1,306.1 mn by the end of 2024. The market is likely to register an impressive 39.50% CAGR between 2016 and 2024.

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Implementation of Free Space Optics Technology in 3G and 4G Networks to Fuel Market Growth

The rising demand for high bandwidth and the increasing applications of free space optical technology in the military sector are some of the important factors expected to encourage the growth of the free space optics market worldwide in the coming years. In addition, the use of free space optics technology in 3G and 4G networks and the less time requires to reduce costs are estimated to supplement market’s growth in the forecast period. However, the deterioration of signal quality owing to environmental interference is likely to restrict the growth of the market in the near future.

Some of the key applications of free space optics are healthcare, last mile access, security, disaster recovery, data transmission, defense, airborne applications, and storage area network. Among these, the data transmission segment is expected to lead the global free space optics market in the next few years. The expansion of applications base and technological developments are predicted to accelerate the growth of the overall market in the near future.

Growing Focus on Research and Development Activities to Bolster North America Market

From a geographical viewpoint, in 2015, North America led the global free space optics market and is estimated to remain in the leading position throughout the forecast period. North America is expected to be followed by Europe, thanks to the rising research and development activities in this region. As per the study, these two regions are projected to collectively account for a massive share of the global free space optics market. In addition, the facilitation of high quality access and high bandwidth to communication methods, along with constant upgrades to network infrastructure are some of the other factors estimated to encourage the market’s growth in the coming years.

The research study further offers a comprehensive overview of the global free space optics market and throws light on the key market players. Some of the players mentioned in the research study are Optelix, Harris Corporation, Anova Technologies, Mostcom Ltd., Trimble Hungary Ltd., Wireless Excellence Limited, Aoptix Technologies Inc., LightPointe Communications, Inc., IBSENtelecom Ltd., and fSONA Networks Corp. To enhance the market penetration, these players are focusing on innovations and technological developments. A detailed view of the key business strategies used by the leading companies has been discussed in the scope of the study.

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