The Global Market for Fiber Optic Components is Projected to Reach US$25.3 Billion by 2024

Technological Advancements & Rapid Deployment of Fiber Optic Networks to Drive Growth in the Global Fiber Optic Components Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Fiber Optic Components market. The global market for Fiber Optic Components is projected to reach US$25.3 billion by 2024, driven by increasing penetration of Internet, rise in data storage networks, growth in fiber optic network deployments, increasing fiber optics efficiency through innovations, and rising demand for high bandwidth applications.

As a transport medium for communication in the modern communication hungry world, fiber optics has become a critical and omnipresent technology, vital to intelligent human existence. Fiber optic infrastructures are increasingly becoming commonplace in various applications and markets including switching systems, high bandwidth video transport, Ethernet mesh networks, and point-to-point security systems, among others. Fiber optic cables are increasingly replacing metal wires as the latter results in loss of data during transmission. Global market for fiber optic components, consisting of transceivers, optical amplifier, coupler/splitters, WDM multiplexer and demultiplexers, filter, isolator, circulator, attenuator, optical switches, wavelength converter and various function modules, is expected to witness strong growth through the coming years, driven by the continuous rise in demand for higher bandwidth and the ensuing need for fiber-based broadband, robust growth in mobile Internet, as well as the strengthening FTTx related deployments, among others. Growing interest in establishing an all fiber optic communication and multi-terabit optical networks, emergence of intelligent optical transmission networks, advancements in laser technology, optical laser neural nodes, emergence of polymer optical fibers, enhancements in optical receiver/transmitter technology, and advancements in optical amplification technology are expected to be some of the future drivers of growth of the market.

The fiber optics market is gaining strength owing to increasing penetration of the Internet as a result of growing significance of IoT, data transfer and storage, and cloud computing. The advanced fiber technology plays a pivotal role in enabling high-speed data transfer. Based on their lightweight nature, high bandwidth and immunity to interference caused by electricity and vibrations, glass optical fibers are likely to find increasing adoption across applications including CATV and telecom that need mechanical protection from stress. Deployment of FTTx networks made rapid progress over the last few years supported by network operators’ sustained focus on enhancing their operations with high-quality communications infrastructure. The acceptance of FTTx is expected to further favor the fiber optic components market owing to its numerous applications in the field of telecommunications. Companies in the fiber optic components market are taking the route of modularization, where a number of components can be packaged into a single, modular package offering hassle-free solutions to end users.

As stated by the new market research report on Fiber Optic Components, Asia-Pacific represents the largest market worldwide owing to strong growth of telecom sector in the region and commissioning of hundreds of thousands of miles of subsea fiber optic networks. Although a small market, Latin America is projected to be the fastest growing region demonstrating a CAGR of 12.2% over the analysis period. The global fiber optics market is expected to receive a notable impetus from technological advances to increase data transfer rate and favorable factors defining the telecommunications industry across the developing regions.

Major players in the market include 3M Company, ABB Ltd. , Amphenol Corp., ARRIS Group Inc., Broadcom Inc., Ciena Corp., Corning Inc., Diamond SA, EMCORE Corp., Fujikura Ltd., Furukawa Electric Co., Ltd. , Hirose Electric Co., Ltd., Hitachi Metals, Ltd., HUBER+SUHNER AG, Japan Aviation Electronics Industry, Ltd., Lumentum Operations LLC, Methode Electronics Inc., Molex, NEXANS SA, Nokia Corp., Prysmian Group, Siemens AG, Sterlite Technologies Ltd., Sumitomo Electric Industries, Ltd., TE Connectivity Ltd., Tellabs, and Valdor Fiber Optics Inc., among others.

The research report titled “Fiber Optic Components: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value terms for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes the market by product segments – Fiber Optic Connectors, Fiber Optic Couplers, Fiber Optic Transmitters/Receivers, Fiber Optic Amplifiers, and Others.

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