According to a recent report by FMI, the Fiber Optic Connectivity Market is anticipated to grow at a rapid CAGR of 9.6% to reach US$ 7.0 billion by 2032, up from US$ 2.5 billion in 2022. This report illustrates how demand for fibre optic technology in numerous industrial sectors, as well as in the submarine and aircraft industries, affects market growth.
Additionally, the market is anticipated to grow over the course of the forecast period due to the growing demand for energy-efficient solutions across a variety of sectors worldwide. Additionally, the need for fibre optic technology across a number of industrial sectors, as well as in the submarine and aircraft industries, has an impact on the market’s expansion.
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Additionally, it is projected that the market for fibre optic communication would expand due to the low cost of data transport. Additionally, it is anticipated that many new opportunities brought about by communication technology improvements will boost the growth of the fibre optic connectivity market throughout the course of the projected period. A significant aspect that is anticipated to support the growth of the Fiber Optic Connectivity market is the longer distance transmission with less security risk.
Key Takeaways from the Market Study
- Global Fiber Optic Connectivity Market was valued at US$ 2.8 Bn by 2022-end
- The US to account for the highest value share of US$ 1 Bn of global market demand for Fiber Optic Connectivity Market in 2032
- From 2015 to 2021, the Fiber Optic Connectivity demand expanded at a CAGR of 10.1%
- By Component, Hardware constitutes the bulk of Fiber Optic Connectivity with a CAGR of 9.4%.
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Competitive Landscape
Players in the global Fiber Optic Connectivity Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In March 2022, In March 2022, Zain Group signed a Memorandum of Understanding (MoU) with Huawei to accelerate 5.5G Innovation to enrich the customer experience across multiple markets. Within the scope of the MoU, Huawei will support Zain Group to optimize its network architecture to extend 5G capabilities to support IoT, Ultra-Reliable Low Latency Communications, uplink centric broadband, real-time broadband communication, harmonized communication, and sensing.
- In January 2022, Corning Incorporated announced the launch of a new glass composition to advance the development of augmented and mixed reality (AR/MR) diffractive waveguides for wearable devices. Optical advancements inherent in the glass take the augmented reality experience to the next level through larger, clearer digital content that creates more engaging and immersive user experiences.
- In November 2021, HUBER+SUHNER and McLaren launched 5G applications to run on trains, the HUBER+SUHNER SENCITY® Rail ACTIVE Rooftop antenna, which is the first-of-its-kind rail antenna that contains an embedded radio and compute module to offer increased data throughput to support 5G services. It is an all-in-one active antenna with a single ethernet cable input for power and data transmission.
Key Players
- Adtell Integration
- Adtran Inc.
- Broadcom
- Cisco Systems Inc.
- Corning Incorporated
- Fiber Optic Services (FOS)
- Finisar Corporation
- Fujitsu Optical Components Ltd.
- Hamamatsu Photonics K.K.
- Huawei Technologies Co.
- HUBER+SUHNER AG
- Infinera Corporation
- OptiLayer GmbH
- Optiwave Systems, Inc.
- ZTE Corporation
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Key Segments Covered in the Fiber Optic Connectivity Market Report
By Component:
- Fiber Optic Connectivity Hardware
- Fiber Optic Connectivity Software
- Fiber Optic Connectivity Services
By Industry:
- Fiber Optic Connectivity for Mining
- Fiber Optic Connectivity for Oil & Gas
- Fiber Optic Connectivity for Wind Power
- Fiber Optic Connectivity for Electric Substations
- Fiber Optic Connectivity for Smart Cities
By Region:
- North America
- South America
- Europe
- Asia Pacific
- MEA
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