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
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