A CAGR of 10.7% is expected for the global fiber optic connector market due to the growing demand during the forecast period. The overall fiber optic connector market size is anticipated to be appraised at US$ 14,484.8 Million by 2032, up from US$ 5,256.6 Million in 2022. The demand for fiber optic connectors is likely to rise owing to the increased application of FTTH and increased deployment of mobile devices.
However, stringent regulatory frameworks, along with high investment costs associated with research and development (R&D) proficiencies, are expected to impede the fiber optic connector market growth. On the contrary, diverse applications and increased investments by governments are anticipated to offer lucrative opportunities for the fiber optic connector market growth.
This prevention of data loss is particularly important for industries like Aerospace, defense and medical where low latency and minimal data loss is of utmost importance. For the same reason, a sizable portion of the growth in the fiber optic connector market is expected to be generated from these industries.
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Fiber Optic Connector Market: Drivers & Challenges
Increasing density of end devices connected to a single network is proving to be a primary challenge for telecom providers.
Telecom providers have made significant investments in harnessing the maximum capacity of their existing networks which has been driving the need for fiber optics and thus fiber optic connectors.
The growth is further going to be augmented further as 5G moves towards commercialization augmenting the need for fiber optic connectors further.
While device density does drive the Fiber optic connector market, it is also the primary restraint for the fiber optic connector market as consumers and enterprises are adopting wirelessly connected IoT devices at a staggering pace restraining the growth of fiber optic connector market.
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Fiber Optic Connector Market: Regional Overview
North America is expected to lead the fiber optic connector market in terms of market share followed by Asia Pacific and Europe.
The growth of fiber optic connector market in North America will be fuelled by the demand for fiber optic cables in Data centers for applications such as cloud computing, video, virtualization, etc.
Whereas the demand of fiber optic connectors in Asia Pacific will be primarily driven by the growth in Telecommunications and IT.
Fiber Optic Connector Market: Competitive Landscape
- Key Contracts/Agreement/Acquisitions
- In April 2017 Verizon, a telecom operator signed a deal with Corning Cable Systems LLC, a Fiber optic connector provider to purchase Fiber optic cable & Fiber optic connectors worth US$ 1.05 Bn
- Key Players
The major players in Fiber Optic Connector market include Alcatel-Lucent SA, 3M, ZTE Corporation, Broadcom Limited, Corning Cable Systems LLC, Hitachi Ltd., Amphenol Corporation, Molex Incorporated and Extron Electronics
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Regional analysis for Fiber Optic Connector Market includes development of these systems in the following regions
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (excluding Japan)
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Fiber Optic Connector Market: Segmentation
Segmentation of Fiber Optic Connector Market, By Type : –
- Standard Fiber Optic Connectors:
- SC connectors are the most basic type of fiber optic connectors and are known for easy operation, high accuracy, and low cost. These connectors, however, are susceptible to accidental disconnection.
- Lucent Fiber Optic Connectors:
- Lucent connectors are a miniaturized version of Standard fiber optic connectors. They also feature a locking mechanism to avoid accidental disconnection.
- Straight Tip Fiber Optic Connectors:
- ST fiber optic connectors are most popular for multimode networks and are spring loaded to ensure connection without data loss.
- MPO/MPT Fiber Optic Connectors:
- Multi Fiber Push on fiber optic connectors connect four to twenty-four fiber connections in a ribbon cable. MPT cables are a registered trademark of US Conec and are the most widely used type of MPO connectors.
- MXC Fiber Optic Connectors:
- MXC connectors are the most advanced form of Fiber Optic Connectors and are usually deployed data centers and HPC environments.