Demand for High Bandwidth makes Fiber Optic Connector Market to Grow Rapidly
Fiber optic connectors are primarily used to connect two optical fibers, thus permitting the transmission of light from one fiber to the other. Fiber optic connectors enable the usage of optical fibers in a public telecommunications network, plant applications, and in wiring installations at the premises of customers.
Fiber Optic Connectors Market Description:
The factors expected to propel the global fiber optic connectors market are technological advancements, large-scale production of optic connectors, and economic growth in emerging markets. However, factors such as the high cost of fiber optic connectors, low level of automation of fiber optics, and growth in wireless networking systems are predicted to hamper the growth of the global fiber optic connectors market in the years to come.
The global fiber optic connectors market is segmented on the basis of geography, type, and application. Based on type, the global fiber optic connectors market is classified into SC, ST, LC, MPO/MTP, and others. In 2014, the LC segment dominated the global fiber optic connectors market and is predicted to maintain its dominance till 2021.
Based on geography, the global fiber optic connectors market is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In 2014, in terms of revenue, North America dominated the global fiber optic connectors market. In 2014, in terms of value, Asia Pacific accounted for 30.60% of the global fiber optic connectors market owing to the developments in cabling technology.
The primary factor expected to drive the global fiber optic connectors market is the growing demand for higher bandwidth in the telecom industry. Leading players such as Amphenol Corporation (U.S.), Arris Group Inc. (U.S.), Hitachi Ltd (Japan), Diamond SA (Switzerland), Furukawa Electric Co. Ltd. (Japan), 3M (U.S.), TE Connectivity Ltd. (Switzerland), Avago Technologies (Singapore), and Sumitomo Electric Industries (Japan) are expected to contribute massively towards the growth of the global fiber optic connectors market in the years to come.
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Factors such as the increasing demand for optical interconnections in various data center networks and technical advancements in fiber optic components are predicted to create growth opportunities in the global fiber optic connectors market in the next few years. The telecom industry, datacom, DWDM systems, lasers, and others are some of the applications of fiber optic connectors. In 2014, the telecom industry led the global fiber optic connectors market owing to the increasing use of fiber optic connectors as a medium of transmission of high volumes of data.