The European optical interconnect market is projected to grow at a significant CAGR of around 10.7% during the forecast period (2021-2027). The major factor that mainly propels the growth of the market is the significant number of standards and regulation imposed by the government related to cyber security in the region. For instance, the EU introduced GDPR on 25 May 2018, after the approval in April 2016 after the 4-year preparation and debate. It has replaced the Data Protection Directive 95/46/EC. The aim of the new law is to provide equal data privacy and protect the personal data of users and customers of companies all across Europe. Authoritative bodies include the European Commission, the European Parliament, and the Council of Ministers of the European Union.
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As per the law, the companies/organization which are gathering the data has to ensure that it should be gathered legally, and it is mandatory to protect it from misuse and exploitation or have to face penalties for not following it. The law applies to each company or entity which processes personal data at its branches in the European Union, irrespective of the location of the data process. It is also applied to the companies situated outside the EU and providing goods or services or monitoring customer behaviour in the EU. Such government initiatives play an important role to encourage companies the adopt data protection solutions that enable them to keep data safe while optimizing data and transmission.
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European Optical Interconnect Market – Segmentation
By Product Type
· Connectors
· Cable Assemblies
· Optical Transceivers
· Silicon Photonics
· Other (Optical Engines)
By Application
· Data Communication
· Telecommunication
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
