According to the latest report published by Variant Market Research, the global free space optics market size was valued at $101.9 Million in 2016 and is expected to reach $1223.1 Million by 2024. In this report, free space optics market forecast says that the global market is growing at 36.4% CAGR from 2016 to 2024.

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The global free space optics market is mainly driven by high penetration of 3G and 4G in emerging countries

Rising applications of free space optics into healthcare and military, growing demand for multimedia services and data streaming, and ever expanding telecommunication industry are the global free space optics market trends. However, environment turbulence is the major hindrance for the free space optics market growth. Moreover, high installation cost is expected to generate numerous growth opportunities for the market in the coming years.

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Market Segmentation

Application, component, and geography are the segmentation of the global free space optics market. The application segment is classified into data transmission, healthcare, disaster recovery, defense, storage area network, security, last mile access, and other applications. Further, by component the segmentation includes modulator, encoder & decoder, transmitter, receiver, demodulator, and other components.

Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (India, China, South Korea, Japan, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.

Based on component, transmitter occupied the majority of the free space optics market share in 2016

On the basis of component, transmitter sub-segment contributed for the major market share accounting for 28.6% and receiver sub-segment for 26.7, in the year 2016 owing to large bandwidth, smaller diameter and light weight characteristics.

Data transmission by application accounted for the leading market share in 2016

Data transmission, application segment dominated the major market share of 21.52%in the year 2016, owing to high penetration of internet. Defense anticipated to be the second largest segment with 20.39%, due to growing budget allocation for the military.

Asia-Pacific led the global free space optics market in 2016

On the basis of geography, Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period and is expected to continue its trend during the forecast period 2016 to 2024. The factors driving the growth of the region include increasing expenditure by government, heavy investments on infrastructure, development of smart cities and emergence of technology start-up companies. Moreover, North America accounts the maximum share of the market followed by Europe in the year 2016. In addition, Washington, Maryland, Colorado, Virginia, Massachusetts is also witnessing a high demand in the global free space optics market.

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Competitive Landscape

Key players profiled in the report include Panasonic Corp., Trimble Hungary Ltd., Anova Technologies, Wireless Excellence Ltd., General Electronics Co., Fujitsu Ltd., Lightbee Corp., Harris Corporation, Outstanding Technology, LightPointe Communications, Inc., pureLiFi Ltd., and Koninklijke Philips N.V. among others.

Scope of Free Space Optics Market

Component Segments
• Transmitter
• Receiver
• Modulator
• Demodulator
• Encoder & Decoder
• Others

Application Segments
• Security
• Airborne Application
• Healthcare
• Storage Area Network
• Data Transmission
• Defense
• Disaster Recovery
• Last Mile Access
• Others

Geography Segments
• North America
o US
o Canada
o Mexico

• Europe
o U.K.
o Italy
o France
o Germany
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

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