Portland,OR, Sept. 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global consumer active optical cable market generated $141.5 million in 2020, and is projected to reach $958.5 million by 2030, witnessing a CAGR of 22.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Surge in demand for higher bandwidth, rise in investments by governments to improve connectivity in China, increase in penetration of video conferencing, gaming, & home surveillance services, and rise in demand for 4K and high definition display drive the growth of the global consumer active optical cable market. However, high initial investment associated with the active optical cable and challenges from optical network security fiber hack restrain the market to some extent. On the other hand, advancement in fiber optics technology presents new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to the global lockdown and temporary closure of electronics and semiconductors industries, thereby adversely affected the overall design, development, and production facilities.
- It further disrupted the whole supply chain, leading to difficulty in the supply of raw materials and finished products. This, in turn, affected the market demand and reduced sales.
- However, the negative impact of COVID-19 on the market is expected to last for a short period of time, and by early 2021 the market is anticipated to observe a robust recovery rate along with the extensive demand for consumer active optical cable products during the post-pandemic period.
The report offers detailed segmentation of the global consumer active optical cable market based on connector type, technology, and region.
Based on technology, the HDMI segment held the highest market share in 2020, holding nearly one-third of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 24.6% from 2021 to 2030.
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Based on connector type, the SEP segment held the largest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the CFP segment is projected to register the highest CAGR of 26.7% from 2021 to 2030.
Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 25.8% during the forecast period.
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Leading players of the global consumer active optical cable market analyzed in the research include Molex LLC, Finisar Corporation, Amphenol Corporation, Shenzhen Gigalight Technology, Sopto Technologies, Sumitomo Electric Industries Ltd., Broadcom, 3M Corporation, IBM Corporation, and Siemon.
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