Market Overview
A fiber optic connector market is a flexible equipment that links fiber cables needing a quick disconnection and connection. Optical fibers terminate fiber-optic connection market to fiber devices or associate two fiber connections without merging. Several varieties of optical fiber connector are available, but the primary differentiator is defined by the dimensions and mechanical coupling methods. Optical fiber connectors facilitate steady connections, as they ensure the fiber ends are optically even and the end-to-end settings are appropriately aligned. The factors which are spurring the market growth of fiber optics connectors include the surging adoption of cloud applications, growing need for broad bandwidth over internet connectivity, internet of things, network virtualization, data center application, and others.
The Fiber Optic Connector Market finds wide application in data center applications throughout the IT sectors that enables higher data rate and numerous fiber ports per unit of rack space. The increased usage of internet in every field of life impacts the growth of the fiber optic connector market positively since it is known to transmit data at an extremely fast pace. Besides, the notable development of the global healthcare industry largely spurs the fiber optic connectors market. Fiber optic cables are widely deployed in the fields of research and medicine. Optical communication forms a vital part of the non-intrusive surgical technique, commonly known as endoscopy. In such surgical techniques, a tiny light is used to brighten up the part within the body where surgery is being performed. This reduces the size and number of possible incisions made in that part. Fiber optics are also applied in biomedical research and microscopy. Fiber optic connector has significant role to play in the safety and lighting features of the present-day vehicles. They are extensively used in lighting, both in the exterior and interior of vehicles. Because of its capacity to conserve space and offer superior lighting, fiber optics are incorporated in almost every automobile.
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Fiber optic connector market can diffuse signals between various parts of the automobile at lightning speed. They are largely used in building safety applications like airbags and traction control. According to the report published by Market Research Future,the global fiber optic connector market is estimated to generate a revenue of USD 5 billion by 2023. The market is likely to grow at 8% CAGR over the review period 2017-2023.
Key Players
Global fiber optic connector market is dominated by key players such as Arris Group Inc. (U.S.), Alcatel-Lucent SA (France), Hitachi Ltd. (Japan), TE Connectivity Ltd. (Switzerland), The 3M Company (U.S.), Corning Cable Systems LLC (U.S.), Amphenol Aerospace (U.S.), Optical Cable Corporation (U.S.), Hirose Electric Co., Ltd. (Japan), and Sumitomo Electric Industries, Ltd. (Japan).
Market Segmentation
The global fiber optic connector market is segmented based on application, type, region, and industries. Based on applications, the global fiber optic connector market is segmented into telecommunication, datacenter, community antenna television, security systems, inter-building, and others. Based on type, the market is segmented into straight tip, lucent connector, master unit, fiber connector, subscriber connector, multi-fiber termination pull off/push on, sub multi-assembly, fiber distributed data interface, and others. Based on region, the market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Based on industries, the market is segmented into consumer electronics, IT & telecom, automotive, and others.
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Regional Analysis
North America represents the largest share in the fiber optic connector market. The North America market for fiber optic connector reflects huge demand owing to the surging application of connectors in defense sectors, which is driving the market growth to a substantial extent. Europe market for fiber optic connector is estimated to experience rapid development on account of the growing usage of high-speed data services by the users in this region. The prominent economies within Asia Pacific market, such as Japan, India, and China, are likely to witness impressive growth over the forecast period. The growth is owing to the rising usage of fiber optics technology in smart cities project.
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