Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Fiber Optic Components Market size is expected to reach $36.3 billion by 2027, rising at a market growth of 8.1% CAGR during the forecast period.
The Cables segment is showcasing a CAGR of 7.1% during (2021 - 2027). The growing demand for higher internet bandwidth is encouraging market growth in this segment. According to Equinix, the interconnection bandwidth has been increased to 4,991 terabits per second in 2020 from 1,144 terabits in 2016. Also, fiber optic cables are essential within a 5G network infrastructure due to which increasing penetration of 5G network is resulting in the growing demand for fiber optic cables.
The Communications segment acquired maximum revenue share in the Global Fiber Optic Components Market by Application in 2020, thereby, achieving a market value of $25.2 billion by 2027. This can be attributed from the growing need of optical communication & networking equipment to cope with the increasing burden of telecom networks due to the deployment of high speed communication networks & shift toward high date rate & bandwidth intensive networks such as 4G, 5G, and LTE.
The North America is fastest growing region the Global Fiber Optic Components Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $13.3 billion by 2027. The Europe market is estimated to witness a CAGR of 7.6% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 8.5% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., II-VI Incorporated, Amphenol Corporation, Fujitsu Limited (Fujitsu Optical Components Limited), Broadcom, Inc., Lumentum Holdings, Inc., TE Connectivity Ltd., EMCORE Corporation, and Accelink Technology Co. Ltd.
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