Fiber optic components market worth $37.5 billion by 2027
CHICAGO, January 21, 2022 /PRNewswire/ — According to the new research report, the “Fiber Optic Components Market with Impact of Covid-19 by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region – Forecast world until 2027″, published by MarketsandMarkets™, the global fiber optic components market is expected to grow from $24.5 billion in 2022 at $37.5 billion by 2027; it is expected to grow at a CAGR of 8.9% between 2022 and 2027. Key factors fueling the growth of this market include increasing deployment of data centers; growing Internet penetration and data traffic; and the growing demand for bandwidth. Increased adoption of fiber optic components in the digital signage market; increased demand for fiber optics due to reliability; and the expansion of telecommunications infrastructure in developing economies are creating high demand for fiber optic components for efficient operations amid COVID-19.
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Transceiver Market to Hold Largest Share in 2021
The transceiver market 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 consoles of gaming) and increasing data traffic are the main drivers for the development and use of high-speed coherent optical transceiver modules. In addition, various governments are taking initiatives to develop modular optical transceivers. Additionally, the introduction of the 5G network and the integration of Artificial Intelligence (AI) and Internet of Things (IoT) have dramatically transformed the optical transceiver market.
Communications Market to Hold the Largest Share in 2021
The communications market is estimated to account for the largest share of the fiber optic components market in 2021. The communications application is expected to dominate the fiber optic components market by 2027. The deployment of high-speed communication networks and the shift to high data rate and bandwidth-intensive networks such as 4G, LTE and 5G are creating a need for optical communications and networking equipment to handle the increasing load on telecommunications networks.
Browse the in-depth table of contents at “fiber optic components Marlet”
125 – Tables
40 – Numbers
215 – Pages
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market in North America hold the largest share
In terms of value, North America dominated 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 strong presence of large companies in the region; high demand for data communication; increased use of communication devices, such as smartphones, tablets and VoIP equipment; along with growing portable device market and increasing deployment of data centers are driving the growth of fiber optic components market in this region.
The major players in the fiber optic components market are II-VI Incorporated (US), Lumentum Holdings Inc. (US), Broadcom Inc. (US), Sumitomo Electric Industries (Japan), Accelink Technologies (China), Oclaro (US), Acacia Communications, Inc. (US), EMCORE Corporation (US), Fujitsu Optical Components (Japan) and Furukawa Electric (Japan). Many of these companies are focused on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, alliances and collaborations to strengthen their market position.
Optical Transceivers Market with COVID-19 impact analysis, by form factor (SFF and SFP; SFP+ and SFP28; XFP; CXP), data rate, wavelength, fiber type, connector, distance, protocol, application (center of data, company) and region – Global Forecast to 2026
Optical interconnect market by Product Category (Cable Assemblies, Connectors, Optical Transceivers), Interconnect Level, Fiber Mode, Data Rate, Distance, Application (Data Communication, Telecom), Region – Global Forecast to 2025
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