Northbrook, IL -- (SBWIRE) -- 01/21/2022 -- According to the new research report the "Fiber Optic Components Market with Covid-19 impact by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Fiber Optic Components Market is expected to grow from USD 24.5 billion in 2022 to USD 37.5 billion by 2027; it is expected to grow at a CAGR of 8.9% during 2022–2027. Key factors fueling this markets growth include increasing deployment of data centers; growing internet penetration and data traffic; and rising demand for bandwidth. Increase in adoption of fiber optic components in digital signage market; rise in demand for fiber optics due to reliability; and expansion of telecommunication infrastructure in developing economies create a strong demand for fiber optic components for efficient operations in the midst of COVID-19.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=63775446
Market for transceivers to hold the largest share in 2021
The market for transceivers accounted for the largest size in 2021. The increasing adoption of smart devices (such as smartphones, laptops, home assistants, IoT-based home security systems, and gaming consoles) and the rising data traffic are the key drivers for developing and using high-speed, coherent optical transceiver modules. Furthermore, various governments are taking initiatives to develop modular optical transceivers. Moreover, the introduction of 5G network and integration of artificial intelligence (AI) and Internet of Things (IoT) transformed the optical transceiver market significantly.
Market for communications to hold the largest share in 2021
The market for communications is estimated to account for the largest share fiber optic components market, in 2021. The communications application is expected to lead the fiber optic components market by 2027. The deployment of high-speed communication networks and shift toward high-date rate and bandwidth-intensive networks such as 4G, LTE, and 5G create a requirement for optical communication and networking equipment to handle the growing burden of the telecom networks.
Browse in-depth TOC on "Fiber Optic Components Market"
125 – Tables
40 – Figures
215 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=63775446
Market in North America to hold the largest share
In terms of value, North America led the fiber optic components market in 2021, accounting for the largest share of the overall fiber optic components market, by region. Factors such as the robust presence of major companies in the region; high demand for data communication; increased use of communication devices, such as smartphones, tablets, and VoIP equipment; as well as the growing market for wearable devices and increasing deployment of data centers drive the growth of the fiber optic components market in this region.
Key players in the fiber optic components market are II-VI Incorporated (US), Lumentum Holdings Inc. (US), Broadcom Inc. (US), Sumitomo Electric Industries (Japan), Accelink Technologies (China), Oclaro (US), Acacia Communications, Inc. (US), EMCORE Corporation (US), Fujitsu Optical Components (Japan), and Furukawa Electric (Japan). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, alliances, and collaborations to strengthen their position in the market.
Related Reports:
Optical Transceiver Market with COVID-19 Impact Analysis, by Form Factor (SFF and SFP; SFP+ and SFP28; XFP; CXP), Data Rate, Wavelength, Fiber Type, Connector, Distance, Protocol, Application (Data Center, Enterprise), and Region - Global Forecast to 2026
Optical Interconnect Market by Product Category (Cable Assemblies, Connectors, Optical Transceivers), Interconnect Level, Fiber Mode, Data Rate, Distance, Application (Data Communication, Telecommunication), Region - Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441