New York, NY, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fiber Optic Connectors Market by Product (SC(Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and Others), by Cable (Simplex, Duplex, and Multi-fiber), by Application (Datacom, DWDM systems, High Density Interconnection, Inter/Intra Building, Security Systems, Community Antenna Television, and Others), and by End-User (IT and Telecom, Automotive, BFSI, Manufacturing, Government, Healthcare, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024’’. According to the report, the global fiber optic connectors market was around USD 3.3 billion in 2017 and is expected to reach approximately USD 5.6 billion by 2024, at a CAGR of slightly above 7.8% between 2018 and 2024.
A connector implied for connection or disconnection of a fiber optic cable based on user requirement is a fiber optic connector. When compared to splicing, fiber optic connectors are preferred due to their flexibility and ease of connection.
Browse through 91 Tables & 43 Figures spread over 151 Pages and in-depth TOC on “Global Fiber Optic Connectors Market Size 2017: By Product Type, Industry Share, Growth, Segments, Analysis and Forecast, 2024”.
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The demand for fiber optics is gaining momentum across the globe, which is likely to drive the fiber optic connectors market in the years ahead. Increasing R&D activities are projected for development and up-gradation of fiber optic cables. Remarkably growing in data transfer rates will substantially contribute toward this market in the upcoming years. Additionally, increasing awareness about the benefits offered by fiber optics technology is likely to further drive this market. Fiber optics market is expected to account for over USD 5 billion by 2022. However, the high initial installation costs of fiber optic cables might hamper the market in the future. Fiber optics plays a vital role in internet communication, as connectors are assembled at the end of fiber cables. The surging internet demand is significantly contributing toward this market demand over the forecast timeframe. The number of internet users increased to over 3 billion across the world in the year 2017.
The global fiber optic connectors market is segmented by product, cable, application, and end-user. The product segment of the market includes SC (Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and others. By cable, the market is classified into simplex, duplex, and multi-fiber. By application, this market includes Datacom, DWDM systems, high-density interconnection, inter/intrabuilding, security systems, community antenna television, and others. The MTP/MPO segment is anticipated to grow significantly in the forecast timeframe due to less installation time and high reliability. By end-user, this market is classified into IT and telecom, automotive, BFSI, manufacturing, government, healthcare, aerospace and defense, and others. The IT and telecom segment is likely to dominate the fiber optic connectors market in the upcoming years.
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By region, North America is anticipated to hold a substantial market share in the forecast time period. This regional market is mainly fueled by the flourishing demand for fiber optic cables for data center applications. Booming offline and online connectivity has tremendously accelerated the rates of data transfer. Currently, the rate of data transfer is over 400 GB/s and old copper wires are found to be incapable of managing this escalated speed. In 2018, there was an increase of more than 44% in the hyper-scale data centers in the U.S. alone.
Emerging market demand in the medical sector is expected to drive the European fiber optic connectors market. The demand for fiber optic technology is escalating in the region’s medical sector. Fiber optic connectors have numerous applications in the medical sector, such as light conduction and illumination, laser delivery systems, and flexible bundling, among others.
Browse the full “Fiber Optic Connectors Market by Product (SC(Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and Others), by Cable (Simplex, Duplex, and Multi-fiber), by Application (Datacom, DWDM systems, High Density Interconnection, Inter/Intra Building, Security Systems, Community Antenna Television, and Others), and by End-User (IT and Telecom, Automotive, BFSI, Manufacturing, Government, Healthcare, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024” Report at https://www.zionmarketresearch.com/report/fiber-optic-connectors-market
The Asia Pacific region is likely to dominate the market globally and hold the largest market share. Fiber optic connectors are in high demand in various Asian countries, due to the rising adoption of fiber optic technology by the telecommunication sector. Fiber optic components are significantly important in the telecommunication sector, due to their ability to handle high traffic density. The rising need for upgraded network security infrastructure in emerging economies, such as India and China, is another factor likely to boost the fiber optic connectors market in the future.
The rise in the number of internet users is tremendously driving the fiber optic connectors market in Latin America. To handle immense internet congestion, fiber optic cables are preferred by organizations over traditional copper cables. Fiber optic technology not only benefits quick information exchange but also facilitates noteworthy transfer speed. In 2016, there were more than 383 million internet users in Latin America and the Caribbean. The flourishing telecom sector is also anticipated to drive this region’s fiber optic connectors market in the future.
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Some renowned players of the fiber optic connectors market TE Connectivity Ltd., Corning Cable Systems LLC, Alcatel-Lucent S.A., Hitachi Ltd., Ratioplast Electronics, 3M, Broadcom Limited, Amphenol Corporation, Sumitomo Electric Industries, Arris Group Inc., Diamond SA, Hirose Electric Co. Ltd., ZTE Corporation, Sterlite Optical Technologies Limited, Furukawa Electric Co., Ltd., and AT&T, among others.
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This report segments the global fiber optic connectors market into:
Fiber Optic Connectors Market: Product Analysis
- SC (Standard Connectors)
- LC (Lucent Connectors)
- FC(Ferrule Connector)
- ST (Straight Tip)
- MTP/MPO (Multiple-Fiber Push-On/Pull-Off)
- MXC Connector
- Others
Fiber Optic Connectors Market: Cable Analysis
- Simplex
- Duplex
- Multi-Fiber
Fiber Optic Connectors Market: Application Analysis
- Datacom
- DWDM systems
- High-Density Interconnection
- Inter/Intra Building
- Security Systems
- Community Antenna Television
- Others
Fiber Optic Connectors Market: End-User Analysis
- IT and Telecom
- Automotive
- BFSI
- Manufacturing
- Government
- Healthcare
- Aerospace and Defense
- Others
Fiber Optic Connectors Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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