Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Fiber Optic Component Market by Type, Data Rate, Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global fiber optic components market was valued at $23,644.0 million in 2021, and is projected to reach $53,586.2 million by 2031, registering a CAGR of 8.78% from 2022 to 2031. Fiber optic components are used to make fiber optic network system. Fiber optic components are mainly used in communications, distributed sensing, analytical and medical equipment and lighting.
Key factors propelling the growth of the fiber optic components market include the increasing deployment of data centers, rising demand for bandwidth and reliability, growing internet penetration and data traffic, and developments in the fiber optic components ecosystem. Manufacturers of the fiber optic components are focusing on developing innovative products to attract more customers to increase the revenue generation by sales of cables. As the internet continues to expand at an exponential rate, so does the demand for increased bandwidth. These factors are further driving the fiber optic components market at a significant pace.
The market also offers growth opportunities to the key players in the market. Growing demand for higher internet bandwidth is a lucrative opportunity for fiber optic cable manufacturers and suppliers, as, according to Equinix, by 2020, the total global interconnection bandwidth is projected to increase from 1,144 terabits per second in 2016 to 4,991 terabits per second by 2020. There are numerous new data center infrastructure projects underway in Europe, APAC, and the U.S. due to aggressive government initiatives. Thus, these factors are expected to gain high traction, thereby providing growth opportunities for the fiber optic components in the coming years.
The key players operating in the market include Competitive analysis and profiles of the major 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, and Tongding Interconnection Information Co Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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 from 2021 to 2031 to identify the prevailing fiber optic component market opportunities.
- 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 fiber optic component 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.
Key Market Segments
By Data Rate
- 10 G
- 40 G
- 100 G
- Above 100 G
By Application
- Communications
- Distributed Sensing
- Analytical and Medical Equipment
- Lighting
By Type
- Cables
- Amplifiers
- Active Optical Cables
- Splitters
- Connectors
- Transceivers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Fujitsu Optical Components
- Acacia Communications, Inc.
- Lumentum Holdings Inc.
- EMCORE Corporation
- Sumitomo Electric Industries
- II-VI Incorporated
- Broadcom Inc.
- Furukawa Electric Co., Ltd.
- Tongding Interconnection Information Co Ltd
- Accelink Technologies Co., Ltd
Key Market Insights
- By type, the cables segment was the highest revenue contributor to the market, and is estimated to reach $17,746.2 million by 2031, with a CAGR of 9.2%. However, the amplifiers segment is estimated to be the fastest growing segment during the forecast period.
- The communications segment generated the largest share in 2021. However, the distributed sensing segment is expected to be the fastest growing segment during the forecast period.
- Based on region, Asia Pacific was the highest revenue contributor, accounting for largest share in 2021, and is estimated to reach $28,706.1 million by 2031, with a CAGR of 9.63%.
| Report Attribute | Details |
| No. of Pages | 249 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $23644 million |
| Forecasted Market Value (USD) by 2031 | $53586.2 million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/teovn6-optic?w=12
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