Market Highlights:

Fiber optic connectors hold together various fibers for connecting ensuring the passage of light.  The use of these components in connecting various cables and equipment can beckon its demand due to increasing interconnectivity. The global fiber optic connector market report compiled by Market Research Future (MRFR) analyses the trends, driver, and challenges for the industry for the period of 2017 to 2023 (forecast period) owing to historical events and current economic scenario. The COVID-19 pandemic and its impact on the industry are explained in depth.

Market Scope

The global fiber optic connector market is expected to grow to a stellar valuation of USD 5 billion by 2023. It is expected to grow at a CAGR of 8% during the forecast period.

The inclination towards high bandwidth speeds, communication networking technologies, and opportunities in industries gravitating towards IIoT are major drivers of the market. Government funding for telecommunication infrastructure, auction of new frequency spectrums, and new areas of investment can bode well for the market. Constant developments in research and development, potential of remote work and online learning, and the efficiency of low-cost applications can pave the way for the market.

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Key Players

Some of the prominent players in the global Fiber Optic Connector Market are Alcatel-Lucent SA (France), Arris Group Inc. (U.S.), TE Connectivity Ltd. (Ticker: TEL) (Switzerland), Hitachi Ltd. (Ticker: 6501) (Japan), Corning Cable Systems LLC (U.S.), The 3M Company (Ticker: MMM) (U.S.), Optical Cable Corporation (U.S.), Amphenol Aerospace (U.S.), Sumitomo Electric Industries, Ltd. (Japan), Hirose Electric Co., Ltd. (Japan) among others.

Segments

The segmental assessment of the fiber optic connector market is segmented into industries, types, applications, and regions. The type-based segmentation of the fiber optic connector market comprises of the straight tip, fiber connector, Lucent connector, master unit, subscriber connector, fiber distributed data interface, multi-fiber termination push-on/pull-off, sub-multi-assembly, and others. The application-based segmentation of the fiber optic connector market comprises of telecommunication, data center, community antenna television, inter-building, security systems, and others. On the basis of industries, the fiber optic connector market consists of automotive, consumer electronics, IT & telecom, and others. The market spans regions, including North America, Europe, Asia Pacific, and the rest of the regions.

Regional Analysis

The regional investigation of the fiber optic connector market includes regions such as North America, Europe, Asia Pacific, and the rest of the regions. The region of North America is an important region across the world in terms of the maximum market portion. The fiber optic connector market of this region has a massive demand due to the escalating usage connectors in defense industries, which is driving the fiber optic connector market expansion to a great extent. The fiber optic connector market in the European region is anticipated to observe speedy augmentation owing to the escalating usage of high-speed data services by customers in these regions. The Asia Pacific region’s nations such as Japan, China, and India, are anticipated to increase with the highest CAGR in the approaching years due to the growing penetration of fiber optics technologies used in smart cities project.

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Author Name : Soham Patel

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