According to the research report titled ‘Global Optical Interconnect Market Size study, by Product Type (Cable Assemblies, Optical Transceivers, Free Space Optics, Fiber and Waveguides, Silicon Photonics, PIC-Based Interconnects, Optical Engines), by Interconnect Level (Chip- & Board-Level Interconnect , Board-To-Board and Rack-Level Optical Interconnect, Metro & Long-Haul Optical Interconnect), by Fiber Mode (Multi-Mode Fiber, Single-Mode Fiber), by Application (Data Communication, Telecommunication), by End-User (Military and Aerospace, Consumer Electronics, Automotive, Chemicals, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global optical interconnect market was valued at USD 6.3 billion in 2019 and is expected to witness a CAGR of 13.7% during 2020-2027.
 

Increasing establishment of data centers, rising demand for IoT connected devices, and surging utilization of cloud computing & big data analytics are majorly expected to drive the global optical interconnect market during the forecast period.
 

Optical interconnect technology is witnessing vast adoption as it supports transmission of signals from signal processing and network equipment by transforming digital signals to optical signals for transferring in the fiber network. Currently, advanced signal processing is implemented with the use of optical interconnect technologies to manage and monitor errors for efficient operation of fiber optic cables. It aids in enhancing the optical equipment capacity while lowering the operational costs, hence escalating product demand, thereby positively impacting global optical interconnect industry outlook.
 

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According to Statista, the overall installations of Internet of Things (IoT) devices is estimated to cross 75 billion worldwide by 2025, which is five times surge from the year 2015.  Extensive deployment of IoT connected devices is stimulating global optical interconnect market trends.
 

Growing prevalence of COVID-19 has caused decline in production of devices as well as reduced the demand for devices integrated with optical interconnect technology, due to nationwide lockdown and temporary shutdown of companies, thereby adversely impacting the market growth in recent times. Moreover, high cost of technology implementation will restrain global optical interconnect industry growth during growth during 2020-2027.
 

Based on product type, global optical interconnect market is segmented into optical transceivers, PIC-based interconnects, free space optics, cable assemblies, optical engines, fiber & waveguides, and silicon photonics. With regards to interconnect level, the industry is bifurcated into chip & board-level interconnect, metro & long-haul optical interconnect, and board-to-board & rack-level optical interconnect.
 

As per fiber mode, global optical interconnect industry sphere is segmented into single-mode fiber and multi-mode fiber. Speaking of the application spectrum, the industry is bifurcated into telecommunication, and data communication. Based on end-user landscape, the market is segmented into automotive, military & aerospace, chemicals, consumer electronics, and others.
 

Based on regional analysis, North America optical interconnect market was the major contributor in terms of revenue in the recent past, mainly due to existence of abundant hyperscale data centers and increasing investment on IoT technology in the region.
 

Major players operating in global optical interconnect marketplace include Mellanox Technologies Ltd., Finisar Corporation, TE Connectivity, Sumitomo Electric Industries Ltd., Juniper Networks Inc., Fujitsu Ltd., Amphenol Corporation, Oclaro Inc., Broadcom Inc., and Molex Inc.