2010 is set to be better for the optoelectronics industry, according to LightCounting's market forecast.
LightCounting, the optical transceiver market research company, predicts global sales of optical transceivers will reach $2.2 billion (£1.4 billion) during 2010 as the industry catches up with growing demand for bandwidth.
It is thought that the optoelectronics market will see a 15 per cent compound annual growth rate this year too.
As the global economic state picks up, LightCounting expect the optoelectronics industry to see sales grow exponentially between 2010 and 2013, particularly in the sale of ten-gigabit Ethernet SFP+ products.
Based on sales data from 2006 to 2009, LightCounting's report paints a promising future for the optoelectronics industry.
Scott Schube, senior analyst at LightCounting, said: "The slow-down in IT spending in 2008-09 has left service providers having to catch up, with newer generation products doing particularly well as networks upgrade to 10 Gbps links."
The news follows LightCounting's latest report on the sales of optical cables over the last three years which saw 150,000 units shipped in total.