According to a new report, published by KBV research, The Global Fiber Optic Connectors Market size is expected to reach $9.5 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
The Lucent Connector (LC) market is leading the Global Fiber Optic Connectors Market by Type in 2021; thereby, achieving a market value of $2.1 billion by 2028. The LC connector is made as a push-pull connector with a latch that locks in place to secure the cable. LC connectors are now the standard for high-density connections since they are roughly half the size of SC connectors.
The Oil & Gas market is experiencing a CAGR of 9.8% during (2022 - 2028). Although oil reserves under the ocean floor are great resources, getting to them is very difficult. Consequently, a suitable offshore oil platform is needed. It makes it possible to collect oil from the ocean floor, but an equally effective infrastructure made up of a control centre and sturdy networking gear is crucial.
The Asia Pacific market dominated the Global Fiber Optic Connectors Market by Region in 2021; thereby, achieving a market value of $3.5 billion by 2028. The Europe market would witness a CAGR of 9.2% during (2022 - 2028). Additionally, The North America market is anticipated to grow at a CAGR of 8.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fiber-optic-connectors-market/
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 3M Company, Broadcom, Inc. (CA Technologies, Inc.), Siemens AG, TE Connectivity Ltd., Amphenol Corporation, Aptiv PLC, Optical Cable Corporation, Shenzhen ADTEK Technology Co., Ltd, Molex, LLC (Koch Industries, Inc.) and Extron Electronics.
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