The fiber optic connector market size is expected to reach USD 6.7 billion along with the highest CAGR of 9.3% forecast 2020-2030. Fiber optic connectors are used for combining the fiber optic cables without any loss of light. These connectors are used for mechanical coupling and aligning of core fibers that allow efficient light transfer, high reliability, high return loss, and low insertion loss. Apart, they are used for the termination of cables. Fiber optic connector system structure includes a connector body, ferrules, cable, and a coupling device.
Fiber optic connectors are used in numerous applications like telecommunication, data centers, inter/intra building applications, security systems, community antenna televisions, and high-density interconnections. The rapidly increasing demand for high bandwidth among end-users is driving the market. The requirement of high-speed data services like audio & video services, online gaming, CATV is boosting the growth of the fiber optic connector market. High data security needed areas like the defense & aerospace sector are increasing the adoption of fiber optic connector systems. Can provide efficient transformation of data even in harsh environments.
The COVID-19 pandemic rapidly spread aall over the world and makes everyone’s life sorrowful. Even though the government imposed stringent regulations like lockdowns, maintaining social distances, work from home offices, transportation bans, and more, nearly one-third of the people are affected by the pandemic physically and the maximum of the world population is affected financially. Majorly, due to supply chain disruptions and lack of workers and raw materials, business sectors are affected very badly.
The fiber optic connector market is also affected by the pandemic. As fiber optics are used in the medical sector and those equipment are used for treating the COVID-19 patients, rapidly the demand over the fiber optics connector market increases. Apart, due from the lockdowns and work from home offices, the usage of high-speed data services are increased. Hence, the demand over the market is increased by this pandemic situation.
Some of the factors that drive the fiber optic connector market are growing demand for high bandwidth over the internet connectivity, the internet of things, rise in adoption of cloud applications, network virtualization, data center application, and many more. Most of the fiber ports are used in the data center applications in the IT industries. The rise in the number of internet users and reducing data plans prices are the factors that increase the growth of the fiber optic connector market.
Moreover, fiber optic technology is used in the telecommunication industries which provides the benefits like higher data rate capabilities, noise rejection, electrical isolation, and others. Anyway, fiber optic technology is boosting the growth of the market to a huge extent. The deployment of 5G technology is expected to increase the demand for the market.
High investment on initial is hampering the market’s growth. A rise in the adoption of wireless broadband and other technologies and new infrastructure requirements are restraining the market.
Due to the increasing need for high-speed data in corporate centers, hospitals, universities, and government institutes, the demand for fiber optic connectors is increasing. The rise in adoption of smartphones, tablets, and 4G LTE network platforms offers numerous opportunities to escalate the fiber optic connector market growth. Growing investments by the government in the fiber optic market may increase the market growth.
The high initial investment is required to develop and deploy new fabrication technologies is the major challenge of the market.
Study Objectives -
The global fiber optic connector market has been divided into segments based on type, application, industries, and region.
Based on Type
The fiber optic connector market research based on the type is segmented into the lucent connector, fiber connector, straight tip, master unit, push on/pull off, subscriber connector, multi-fiber termination, fiber distributed data interface, sub-multi-assembly, and others. Out of these, lucent connector holds the largest market share during the assessment period.
Based on Application
The fiber optic connector market service based on the application is classified into the datacenter, inter-building, telecommunication, community antenna television, security systems, and others. Among them, telecommunication dominates the largest market share for the rising demand for high-speed data services among consumers for television cable signals, telephone signals, and internet communications. The fiber optic connector in the telecom market are used as distribution cables, high density interconnect cables, trunk cable forms, and standard patch cords.
Based on Industries
The fiber optic connector market industry is bifurcated into automotive, consumer electronics, IT & telecom, and others. Out of these, IT & Telecommunication is accounting for the largest share in the market for the growing usage of high-speed data services.
Based on Region
The global fiber optic connector market region-wise is divided into Europe, Asia-Pacific, North America, and the rest of the world are the four main geographies included in this market. North America is in the leading position across the world for the rising usage of connectors in defense industries.
Globally, the fiber optic connector market is classified into Europe, North America, Asia-Pacific, and the Rest of the world. Due to the presence of data centers, enterprises that require high-speed data services, and the growing usage of connectors in defense industries North America leads the largest market share in the world during the forecast period. Europe is anticipated to witness rapid growth for its growing usage of high-speed data services by consumers. Asia-Pacific is expected to witness significant growth of the highest CAGR for its rising penetration of fiber optics technologies used in smart city projects. Emerging countries like India, Japan, and China are included in this region which needs smart projects.
The prominent key players in the fiber optic connector market trends are the following:
This global fiber optic connector market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the market drivers, restraints, challenges, and opportunities. The market forecast segments are type, application, industries, and region.
The fiber optic connector market trends have been segmented globally based on the type, application, industries, and region.
Lucent connector, fiber connector, straight tip, master unit, push on/pull off, subscriber connector, multi-fiber termination, fiber distributed data interface, sub-multi-assembly, and others.
Datacenter, community antenna television, inter-building, security systems, telecommunication, and others.
Automotive, consumer electronics, IT & telecom, and others are some of the major industries that require fiber optics connector market.
Europe, Asia-Pacific, North America, and the rest of the world are the four main geographies included in this market.
|Market Size||USD 6.7 Billion (2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Industries|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Alcatel-Lucent SA (France), Arris Group Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Hitachi Ltd. (Japan), Corning Cable Systems LLC (U.S.), The 3M Company (U.S.), Optical Cable Corporation (U.S.), Amphenol Aerospace (U.S.), Sumitomo Electric Industries, Ltd. (Japan), Hirose Electric Co., Ltd. (Japan)|
|Key Market Opportunities||Fiber optics technology is also propelling the market growth to a large extent.|
|Key Market Drivers||The growing demand for high-bandwidth broadband internet is a major driver for the global fiber optic connector market.|
The global fiber optic connector market is expected to rise to a valuation of USD 6.7 billion by 2030.
The global fiber optic connector market is expected to exhibit a strong 9.3% CAGR over the forecast period from 2020-2030.
The growing demand for high-bandwidth broadband internet is a major driver for the global fiber optic connector market.
North America is the leading regional market for fiber optic connectors.
Hirose Electric Co. Ltd., 3M Company, Sumitomo Electric Industries Ltd., Hitachi Ltd., Alcatel-Lucent SA, TE Connectivity Ltd., and Corning Cable Systems are among the leading players in the global fiber optic connector market.