Fiber Optic Component Market to Reach $53.6 Billion, Globally, by 2031 at 8.8% CAGR

Allied Market Research published a report, titled, “Fiber Optic Component Market by Type (Cables, Amplifiers, Active Optical Cables, Splitters, Connectors, Transceivers, Others), by Data Rate (10 G, 40 G, 100 G, Above 100 G), by Application (Communications, Distributed Sensing, Analytical and Medical Equipment, Lighting): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global fiber optic component industry generated $23.6 billion in 2021, and is estimated to reach $53.6 billion by 2031, witnessing a CAGR of 8.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 :   https://www.alliedmarketresearch.com/request-sample/32078

A fibre optic cable is a network wire that incorporates strands of glass fibres inside an insulated housing. Fiber optic cables offer a higher capacity and can carry data over greater distances than conventional wires. The need for fiber optic hardware components in the telecom industry is predicted to increase due to the rising demand for internet penetration and data traffic are leading to the rapid growth of data centers and the need for high-speed transmission networks, thus increasing the fiber optic component market.

Furthermore, it is predicted that during the forecast period, the market would increase due to the surge in need for deployment of broadband network architectures. Fiber to the Home (FTTH) and Fiber to the Building (FTTB) are the few prominent broadband networking architectures that necessitate the large-scale deployment of fiber optic networks. The fiber optic component market growth is also anticipated to benefit from the rising demand transceivers for advanced communication.

Covid-19 Scenario

·        The global fiber optic component market was severely affected by the COVID-19 pandemic. Due to the extended lockdowns and unavailability of labor, manufacturing facilities were shut down and production activities came to a halt. Disruptions in the distribution channel caused difficulties in obtaining raw materials and machinery.

·        The market witnessed a steep decline during 2019-2020. Companies operating in the global fiber optic components industry temporarily experienced a slowdown, owing to lack of availability of skilled workforce to manufacture global fiber optic components, and this led to a decline in market revenue for the financial year 2020 to 2021.

·        However, with the introduction of vaccines, the severity of the pandemic reduced significantly and companies in the industry gradually resumed their normal operations.

Segmentation Analysis:

The fiber optic component market is segmented into Data Rate, Application and Type. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.

The 100G Segment to Maintain a Progressive Growth during the Forecast Period

Based on data rate, the 100G segment was the largest market in 2021, contributing to more than half of the global fiber optic component market, and is expected to maintain its leadership status during the forecast period. Moreover, the segment is projected to witness the fastest CAGR of 9.49% from 2022 to 2031. This is due to the higher performance of 100G than previous switching technologies, and its low cost compared to 40G with 25% increase in performance.

The Communications Segment to Maintain its Leadership in Terms of Revenue During the Forecast Period

Based on application, the communications segment was the largest market in 2021, contributing to nearly three-fifths of the global fiber optic component market, and is expected to maintain its leadership status during the forecast period. Manufacturers of optical transceivers are placing a greater emphasis on research and development in order to support various applications in the metro network, data center interconnect, long-haul applications, and other areas that call for optical transceivers to be compatible with the intricate network. On the other hand, the distributed sensing segment is projected to witness the fastest CAGR of 10.1% from 2022 to 2031. Distributed fiber optic sensors are increasingly being used in the infrastructure sector, especially for monitoring structural health.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/32078

Asia-Pacific to Maintain its Dominance by 2031

Based on region, Asia-Pacific was the largest market in 2021, capturing nearly half of the global fiber optic component market, and is expected to lead the trail during the forecast period. Moreover, the same market is projected to manifest the fastest CAGR of 9.63% during the forecast period, owing to the continuous investment in data centers in Asia-Pacific. Also, due to the growing demand for data storage, some of the data center companies in the region look to rent or share data center facilities instead of owning them. The report also analyzes the North America, Europe, and LAMEA segments.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.alliedmarketresearch.com/request-for-customization/32078

Leading Market Players

·        Furukawa Electric

·        Sumitomo Electric Industries

·        Lumentum Holdings Inc.

·        Accelink Technologies Co. Ltd.

·        II-VI Incorporated

·        Broadcom Inc.

·        Acacia Communications, Inc.

·        Fujitsu Optical Components

·        EMCORE Corporation

·        Tongding Interconnection Information Co Ltd.

 Key Benefits For Stakeholders:

·        This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fiber optic component market analysis and fiber optic component market outlook from 2021 to 2031 to identify the prevailing fiber optic component market opportunity.

·        The market research is offered along with information related to key drivers, restraints, and opportunities.

·        Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

·        In-depth analysis of the digital film cameras market segmentation assists to determine the prevailing market opportunities.

·        Major countries in each region are mapped according to their revenue contribution to the global market.

·        Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

·        The report includes the analysis of the regional as well as global fiber optic component market trends, key players, market segments, application areas, and market growth strategies.

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