Press release
Global Fiber Optic Connectors Market Exploring Future Growth 2020-2027| Opportunities & Development
Fiber Optic Connectors Market
The small- and medium-sized market players in the global market for fiber optic connectors’ have a large playfield to experiment new business strategies, It is expected that the small vendors in the global fiber optic connectors market would stick to the basics of marketing in order to enhance their growth prospects. The medium-sized players in the global fiber optic connectors market could benefit from tying up with the larger players ad getting access to a wider consumer base. Some of the key vendors in the global market for fiber optic connectors are Furukawa Electric Co. Ltd., ZTE Corporation, Hitachi Ltd., Corning Cable Systems LLC, Broadcom Limited, and Sterlite Optical Technologies Limited.
A report by Transparency Market Research (TMR) finds that the global market for fiber optic connectors would expand at a healthy CAGR of 8.1% over the period between 2019 and 2027. The global fiber optic connectors market had a total worth of US$3.5 bn in 2018, and this figure is expected to touch a value of US$7.2 bn by 2027. On the basis of application, the demand for fiber optic connectors in the telecom industry has been rising at a stellar rate. On the other hand, the market for fiber optic connectors in Asia Pacific is projected to expand at a robust rate in the years to come.
Growth of the Telecom Industry to Propel Demand
The need to ensure seamless communication through transfer of signals in the telecom industry has been growing in recent times. Fiber optic connectors are an indispensable part of the telecom net, and hence, the growth of the telecom industry is projected to drive demand within the global market for fiber optic connectors. Although various types of fiber optic connectors are available in the marketplace, there is no substitute for the base product. This factor has emerged as another key prospects for growth within the global market for fiber optic connectors.
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High Price of Fiber Optic Connectors could hamper Growth
The demand within the global market for fiber optic connectors could be restrained by the high costs of these connectors. The per unit cost of fiber optic connectors used in the telecom industry often outdoes the benefits served by these connectors, which has become a major concern of the market vendors. However, the use of fiber optic connectors across data centers and datacom units is projected to keep enhancing the growth prospects of this market. Besides this, advancements in the domain of DWDM systems is also expected to propel market demand in the years to come.
The review is based on TMR’s report titled “Fiber Optic Connectors Market (Types – LC (Lucent Connectors), SC (Standard Connectors), ST (Straight Tip) Connectors, MPO/MTP (Multiple-Fiber Push-On/Pull-Off), and MXC; Applications – Telecom Industry, Datacom, DWDM Systems, and Lasers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”.
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The global fiber optic connectors market has been segmented into:
Fiber Optic Connectors Market, by Types
LC (Lucent Connectors)
SC (Standard Connectors)
ST (Straight Tip) Connectors
MPO/MTP (Multiple-Fiber Push-On/Pull-Off) Connectors
MXC Connectors
Others
Fiber Optic Connectors Market, by Applications
Telecom Industry
Datacom
DWDM systems
Lasers
Others
Fiber Optic Connectors, by Geography
North America
The U.S.
Canada
Mexico
Europe
United Kingdom
Germany
France
Spain
Italy
CIS
Scandinavia
Rest of Europe
Asia Pacific
China
India
Japan
Oceania
Rest of Asia Pacific
Middle East & Africa
Brazil
Argentina
Rest of Latin America
Latin America
Saudi Arabia
UAE
South Africa
Rest of MEA
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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
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