The North American optical interconnect market is projected to grow at a significant CAGR of around 11.5% during the forecast period (2021-2027). The market is mainly driven due to rising data centre deployment in the US and Canada. With the growing number of large, small and medium enterprises across the US and Canada, an increasing concern of the management of large enterprise data has been reported over the years. As a result, the enterprise hires data center service providers for the optimal management of their big data with more security and flexibility. This is primarily encouraging the demand for data center deployment in the region that further propels the adoption of optical interconnect in the region.
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Moreover. Government regulations related to cybersecurity further fuelling the demand for optical interconnect services in the region. The government of Canada proposed a report entitled Fundamentals of Cyber Security for Canada’s Critical Infrastructure Community, in 2016. It endorsed the National Institute of Standards and Technology’s (NIST) framework for cyber security and put forward a strategy to implement an all-hazards risk management approach and share and protect information. The federal budget, Economic Action Plan 2015, brought two major cyber security announcements. Their funding included about 58 million over the next five years in new funding to further protect the Government of Canada’s essential cyber systems and critical infrastructure against cyber-attacks.
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North American Optical Interconnect Market – Segmentation
By Product Type
· Connectors
· Cable Assemblies
· Optical Transceivers
· Silicon Photonics
· Other (Optical Engines)
By Application
· Data Communication
· Telecommunication
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