Analyst predicts 9.2% CAGR in global coherent optical equipment market to 2030
At $971 million, Ciena’s Q4 revenues were a little down on last year’s, which broke the $1 billion mark, but still beat market expectations.
The vendor’s President and CEO, Gary Smith, attributed this to “some favourable supply chain developments in the second half of this quarter,” and added, “Looking ahead, we expect to deliver outsized revenue growth in fiscal 2023 given our significant backlog and continued signs of gradual supply improvement.
“And, we remain confident that the durability of secular demand drivers and our strategic investments to expand our addressable market position us to deliver strong revenue growth over the next several years.”
Ciena reported revenues of $3.63 billion for the full year, just up from last year’s, pushing its share price up 18.2%.
Analyst view
A report published by Acumen Research and Consulting, Coherent Optical Equipment Market and Region 2022-2030 predicts the global market will reach to reach at $98.3 billion by 2030 at a compound annual growth rate of 9.2%, “owing to rapid digitization and modernization across all industries” and “increasing internet penetration [driving] the coherent optical equipment market value”