DUBLIN--(BUSINESS WIRE)--The "Fiber Optic Components Market with Covid-19 impact by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global fiber optic components market is expected to grow from USD 24.5 billion in 2022 to USD 37.5 billion by 2027; it is expected to grow at a CAGR of 8.9% during 2022-2027. Key factors fueling this market's growth include increasing deployment of data centers; growing internet penetration and data traffic; and rising demand for bandwidth. An increase in adoption of fiber optic components in the digital signage market; rise in demand for fiber optics due to reliability, and expansion of telecommunication infrastructure in developing economies create a strong demand for fiber optic components for efficient operations in the midst of COVID-19.
Transceivers to hold the largest size of Fiber optic components market in 2021
The market for transceivers accounted for the largest size in 2021. The increasing adoption of smart devices (such as smartphones, laptops, home assistants, IoT-based home security systems, and gaming consoles) and the rising data traffic are the key drivers for developing and using high-speed, coherent optical transceiver modules. Furthermore, various governments are taking initiatives to develop modular optical transceivers. Moreover, the introduction of 5G network and integration of artificial intelligence (AI) and Internet of Things (IoT) transformed the optical transceiver market significantly.
Communications to hold largest share of Fiber optic components market in 2022
The market for communications is estimated to account for the largest share fiber optic components market, in 2021. The communications application is expected to lead the fiber optic components market by 2027. The deployment of high-speed communication networks and shift toward high-date rate and bandwidth-intensive networks such as 4G, LTE, and 5G create a requirement for optical communication and networking equipment to handle the growing burden of the telecom networks.
North America to dominate Fiber optic components market in 2021
In terms of value, North America led the fiber optic components market in 2021, accounting for the largest share of the overall fiber optic components market, by region. Factors such as the robust presence of major companies in the region; high demand for data communication; increased use of communication devices, such as smartphones, tablets, and VoIP equipment; as well as the growing market for wearable devices and increasing deployment of data centers drive the growth of the fiber optic components market in this region.
Market Dynamics
Drivers
- Increasing Deployment of Data Centers
- Growing Internet Penetration and Data Traffic
- Rising Demand for Bandwidth
Restraints
- Prone to Physical Damage and Transmission Loss
Opportunities
- Increasing Adoption of Fiber Optic Components in Digital Signage Market
- Rising Demand for Fiber Optics due to Reliability
- Expansion of Telecom Infrastructure in Developing Economies
Challenges
- Threat to Optical Network Security
- High Cost of Installation and Difficulty in Installing in Different Terrains
Value Chain Analysis
- Different Optical Fibers
- Plastic Fiber Type
- Glass Fiber Type
Companies Mentioned
- Acacia Communications, Inc.
- Accelink Technologies
- Amphenol Corporation
- Broadcom Inc.
- Emcore Corporation
- Fiber Optic Communications, Inc. (Foci)
- Fibre Mountain
- Fujitsu Optical Component Limited
- Furukawa Electric Co., Ltd.
- Hexatronic Group
- Ii-Vi Incorporated
- Lumentum Holdings Inc.
- Mwtechnologies, Lda
- Neophotonics Corporation
- O-Net Technologies (Group) Limited
- Oclaro Inc.
- Shenzhen Nokoxin Technology Co.Ltd
- Smiths Interconnect, Inc.
- Source Photonics, Inc.
- Sumitomo Electric Industries, Ltd.
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/im7oun
