DUBAI, United Arab Emirates, Oct. 16, 2022 (GLOBE NEWSWIRE) -- The global fiber optic connector market is anticipated to reach a valuation of US$ 14,484.8 Mn by 2032, with sales growing at a robust CAGR of 10.7% from 2022 to 2032. Driven by the heightened application of FTTH as well as the rising usage of mobile devices, the fiber optic connector market will likely reach an estimated US$ 5,256.6 Mn in 2022.
Elevated video streaming and gaming activities demand higher bandwidth owing to the fact that the number of internet users has grown in the last two decades. Fiber optic connectors have become the preferred transmission routes due to advantageous properties like their ability to provide compact size, low back reflection, reliable network connections, high bandwidth size, longer reach, etc.
Furthermore, the transformation of the fifth-generation fiber optics technology based on Dense Wave Division Multiplexing (DWDM) as a result of continuous technological progress could play a crucial role in influencing arising trends in the fiber optic connector market.
In addition, the declining prices of data plans and the increasing number of internet users have amplified data consumption all over the world. Consequently, the need for high bandwidth has also surged.
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Many private companies are launching new satellites and antennas to meet this soaring consumer demand, which, in turn, will positively influence the adoption rates of fiber optic connectors in the global market.
Again, a major portion of the telecom sector is gradually more inclined towards fiber optic connector technology due to its flexibility in infrastructure design options. B Also, by simplifying the fiber optic technology, passive optical LAN architectures are enhancing IT productivity will ultimately lead to better market prospects for fiber optic connectors during the forecast period.
“Development and adoption of 5G networks along with the expansion of the telecom sector will propel the global growth of the fiber optic connector market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Strict regulatory measures and associated high investment costs may hamper the market growth.
- North America is the largest market for fiber optic connectors with 35.7% of the revenue share.
- Europe’s fiber optic connectors market accounts for 22% of the revenue share.
- Germany dominates the fiber optic connectors market within Europe
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Competitive Landscape
Alcatel-Lucent S.A, 3M, ZTE Corporation, Broadcom Limited, Hitachi Ltd., Corning Cable Systems LLC, Amphenol Corporation, TE Connectivity, Molex Incorporated, Extron Electronics, US CONEC Ltd., Furukawa Electric Co. Ltd., Hirose Electric Co. Ltd., Senko Advanced Components, Sumitomo Electric Industries Ltd., etc., among others, are some of the major players in the fiber optic connector market profiled in the full version of the report.
Leading market players are concentrating on developing affordable fiber optics cables to increase their consumer base. These businesses are keen on expanding their product portfolios, releasing new products, and employing mergers and acquisition tactics to strengthen their market position.
More Insights into Fiber Optic Connector Market Report
In its latest report, FMI offers an unbiased analysis of the global fiber optic connector market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (standard, lucent fiber, straight tip, MPO/ MPT, MXC), and region.
According to the latest FMI reports, based on region, North America accounts for the largest share of the fiber optic connector market. The region holds about 35.7% of the target market’s revenue share. This growth can be attributed to the expanding telecommunication and data center applications as well as to the strong presence of major market players in this region.
The fiber optic connector market in Europe is the second largest market with about 22.6% revenue share. Large-scale application of phones coupled with escalating demand for internet bandwidth fuels the growth of the regional target market. Within Europe, Germany dominates the market owing to higher adoption rates and the presence of top market players. Thus, Europe and North America are, currently, the two major markets for fiber optic connectors during the forecast period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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