The fibre optic connectors serve a critical role in reducing data loss as signals in fibre optic-based connections send data through a beam of light. The market for fibre optic connectors is expected to reach US$5,256.6 million by the end of 2022. The market is anticipated to grow at a CAGR of 10.7% between 2022 and 2032, with an estimated closing value of US$ 14,484.8 Million.
The development of optical fibres and fibre optic connectors, which can support effective data transfer rates at greater bandwidths, has been made possible by the advancement of conventional physical connectivity technologies. Fiber optic connectors, which serve as an end point for devices linked to a network, are a necessary component of fibre optic connections.
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This prevention of data loss is particularly important for industries like Aerospace, defense and medical where low latency and minimal data loss is of utmost importance. For the same reason, a sizable portion of the growth in the fiber optic connector market is expected to be generated from these industries.
Fiber Optic Connector Market: Drivers & Challenges
Increasing density of end devices connected to a single network is proving to be a primary challenge for telecom providers.
Telecom providers have made significant investments in harnessing the maximum capacity of their existing networks which has been driving the need for fiber optics and thus fiber optic connectors.
The growth is further going to be augmented further as 5G moves towards commercialization augmenting the need for fiber optic connectors further.
While device density does drive the Fiber optic connector market, it is also the primary restraint for the fiber optic connector market as consumers and enterprises are adopting wirelessly connected IoT devices at a staggering pace restraining the growth of fiber optic connector market.
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Fiber Optic Connector Market: Competitive Landscape
- Key Contracts/Agreement/Acquisitions
- In April 2017 Verizon, a telecom operator signed a deal with Corning Cable Systems LLC, a Fiber optic connector provider to purchase Fiber optic cable & Fiber optic connectors worth US$ 1.05 Bn
- Key Players
The major players in Fiber Optic Connector market include Alcatel-Lucent SA, 3M, ZTE Corporation, Broadcom Limited, Corning Cable Systems LLC, Hitachi Ltd., Amphenol Corporation, Molex Incorporated and Extron Electronics
Key Segments Profiled in the Fiber Optic Connector Market Survey
By Type:
- Standard
- Lucent Fiber
- Straight Tip
- MPO/MPT
- MXC
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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