What is the total addressable market for Lumentum in the photonics industry 
 combination will be immediately accretive to Lumentum's non-GAAP earnings per share following the closing, and we will deliver substantial run rate synergies contributing to continued best-in-class financial performance. Combining creates opportunities to increase efficiency and to benefit from economies of scale. We are confident that these compelling strategic merits will deliver significant long-term value to our stockholders.
Turning to slide eight. As you know, photonics are increasingly becoming a critical and enabling technology for many applications that are shaping our future. Internet, cloud, 5G and broadband access network capacity requirements continue to grow at an unrelenting pace. These increasing requirements are driven by the digital transformation of work and life, high-bandwidth video, gaming and other bandwidth-intensive applications. Photonics technology is essential to the scaling of data center and telecom network capacity and meeting the requirements of the applications I mentioned earlier. Photonics are also increasingly playing a critical role in new approaches to manufacturing, industrial sensing, automobiles, delivery vehicles, safety, security, healthcare, life sciences as well as addressing climate change. These trends create a more than $20 billion and growing total addressable market for Lumentum today, as I mentioned earlier. Now turning to slide nine.
Adding NeoPhotonics accelerates Lumentum's exposure to some of the fastest-growing portions of the more than $10 billion market for optical components for communication applications. The staggering 30% compound annual growth rate in Internet bandwidth is driving increasing data transmission speeds and rapid growth in the number of high-speed ports in optical networks. Shown on this slide is the anticipated growth of 400 gig and above telecom ports over the next five years. Growth is very robust with an expected compound annual growth rate of more than 75%. All of this highlights a significant opportunity to accelerate growth with the addition of NeoPhotonics. Turning to slide 10. The combined company will have a broad and comprehensive product portfolio and will be well positioned to serve the 400 gig and above market opportunity. Customers are looking for technology providers, like Lumentum, to offer a wider range of products.
Customers are also looking for compelling, long-term product and technology road maps that they can count on and incorporate into their future product plans. NeoPhotonics has developed a product portfolio complementary to Lumentum's, and the combined company's product offerings will span next-generation data centers, access, metro and long-haul applications. Turning to slide 11. The combined company's technologies start at the material, wafer fabrication and device physics level. This allows innovation to start from the most fundamental level, which provides long-term differentiation and customer value proposition. It also gives the combination a high degree of vertical integration and scalable, low-cost manufacturing. In addition to the new technologies, NeoPhotonics also brings a talented team of engineers focused on Photonics, which increases our breadth and depth of technical resources. Turning to slide 12.
The combination's breadth of technology and vertical integration spans a wide range of photonics and electronic semiconductor materials and devices, advanced packaging and RF design as well as electronics and software. The relevance of these capabilities extend beyond optical communications. I highlighted earlier numerous other applications that are increasingly utilizing photonics. An important element of Lumentum's strategy is to leverage our capabilities into new markets and applications. We have successfully employed this strategy in developing 3D sensing solutions as well as creating compelling commercial laser solutions for our customers, as shown on this slide. The combined organization will be well positioned to pursue additional, attractive, new growth opportunities in new markets.
With that, I will 
 combination will be immediately accretive to Lumentum's non-GAAP earnings per share following the closing, and we will deliver substantial run rate synergies contributing to continued best-in-class financial performance. Combining creates opportunities to increase efficiency and to benefit from economies of scale. We are confident that these compelling strategic merits will deliver significant long-term value to our stockholders.
Turning to slide eight. As you know, photonics are increasingly becoming a critical and enabling technology for many applications that are shaping our future. Internet, cloud, 5G and broadband access network capacity requirements continue to grow at an unrelenting pace. These increasing requirements are driven by the digital transformation of work and life, high-bandwidth video, gaming and other bandwidth-intensive applications. Photonics technology is essential to the scaling of data center and telecom network capacity and meeting the requirements of the applications I mentioned earlier. Photonics are also increasingly playing a critical role in new approaches to manufacturing, industrial sensing, automobiles, delivery vehicles, safety, security, healthcare, life sciences as well as addressing climate change. These trends create a more than $20 billion and growing total addressable market for Lumentum today, as I mentioned earlier. Now turning to slide nine.
Adding NeoPhotonics accelerates Lumentum's exposure to some of the fastest-growing portions of the more than $10 billion market for optical components for communication applications. The staggering 30% compound annual growth rate in Internet bandwidth is driving increasing data transmission speeds and rapid growth in the number of high-speed ports in optical networks. Shown on this slide is the anticipated growth of 400 gig and above telecom ports over the next five years. Growth is very robust with an expected compound annual growth rate of more than 75%. All of this highlights a significant opportunity to accelerate growth with the addition of NeoPhotonics. Turning to slide 10. The combined company will have a broad and comprehensive product portfolio and will be well positioned to serve the 400 gig and above market opportunity. Customers are looking for technology providers, like Lumentum, to offer a wider range of products.
 Customers are also looking for compelling, long-term product and technology road maps that they can count on and incorporate into their future product plans. NeoPhotonics has developed a product portfolio complementary to Lumentum's, and the combined company's product offerings will span next-generation data centers, access, metro and long-haul applications. Turning to slide 11. The combined company's technologies start at the material, wafer fabrication and device physics level. This allows innovation to start from the most fundamental level, which provides long-term differentiation and customer value proposition. It also gives the combination a high degree of vertical integration and scalable, low-cost manufacturing. In addition to the new technologies, NeoPhotonics also brings a talented team of engineers focused on Photonics, which increases our breadth and depth of technical resources. Turning to slide 12.
The combination's breadth of technology and vertical integration spans a wide range of photonics and electronic semiconductor materials and devices, advanced packaging and RF design as well as electronics and software. The relevance of these capabilities extend beyond optical communications. I highlighted earlier numerous other applications that are increasingly utilizing photonics. An important element of Lumentum's strategy is to leverage our capabilities into new markets and applications. We have successfully employed this strategy in developing 3D sensing solutions as well as creating compelling commercial laser solutions for our customers, as shown on this slide. The combined organization will be well positioned to pursue additional, attractive, new growth opportunities in new markets.
With that, I will 