The fiber optic components global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fiber Optic Components Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The fiber optic components market size has grown strongly in recent years. It will grow from <b>$26.19 billion in 2023 to $28.62 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. </b> The growth in the historic period can be attributed to internet revolution and data demand, advancements in fiber optics, global connectivity requirements, emergence of cloud computing, government initiatives and investments.
The fiber optic components market size is expected to see strong growth in the next few years. It will grow to <b>$41.67 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. </b> The growth in the forecast period can be attributed to internet of things (iot) growth, data center expansion, smart city initiatives, rise in remote working trends, renewable energy connectivity. Major trends in the forecast period include mobile and wireless technologies, 5g network expansion, advancements in optical networking, rapid digital transformation, increased bandwidth requirements.
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Scope Of Fiber Optic Components Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fiber Optic Components Market Overview
Market Drivers –
The rising demand for the internet is expected to propel the fiber optic components market. Internet refers to a worldwide connected network system that helps communicate and access data resources. Fiber optic is the backbone of the internet, as it acts as a medium to transmit more information at faster speeds too long distances. For instance, in November 2021, according to a report shared by the International Telecommunication Union (ITU), a Switzerland-based specialized UN agency, the number of internet users increased by 782 million, accounting for 63% of the global population in 2021, compared to the previous year. Therefore, the rising demand for the internet is driving the fiber optic components market.
Market Trends –
Product innovation is a key trend in the fiber optic components market. Major players in the fibre optic component market are concentrating on creating new technical innovations to bolster their positions. For instance, in June 2021, Sumitomo Electric Industries Ltd., a Japan-based manufacturer of optical fiber cables and components, launched a new multi-fiber connected ‘AirEB’. The new connector has an expanded beam and is expected to have optical performance tolerance, contributing to cleaning cost advantages. The precision molding of the connector is expected to deliver good performance in harsh environments with less maintenance and high productivity.
The fiber optic components market covered in this report is segmented –
1) By Type: Cables, Active Optical Cables, Amplifiers, Splitters, Connectors, Circulators, Transceivers, Other Types
2) By Fiber Type: Glass, Plastic
3) By Application: Distributed Sensing, Analytical and Medical Equipment, Lighting, Communications
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Regional Insights –
Asia-Pacific was the largest region in the fiber optic components market share in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber optic components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the fiber optic components market report are Coherent Corp., Lumentum Holdings Inc., Broadcom Inc., Sumitomo Electric Industries Ltd., Accelink Technologies Corporation, Acacia Communications Inc., EMCORE Corporation, Fujitsu Optical Components Limited, The Furukawa Electric Co. Ltd., Finisar Corporation, O-Net Technologies (Shenzhen) Group Co. Ltd., Oclaro Inc., Reflex Photonics Inc., TE Connectivity Ltd., Fiber Mountain, KAIAM Corporation, MW Technologies LDA, NeoPhotonics Corporation, Shenzhen Nokoxin Technology Co. Ltd., Amphenol Corporation, II-VI Incorporated, Prysmian Group, Yangtze Optical Fibre and Cable Joint Stock Limited Company, Fujikura Ltd., Corning Incorporated, Infinera Corporation, Ciena Corporation, FiberHome Telecommunication Technologies Co. Ltd., ZTE Corporation, Huawei Technologies Co. Ltd.
Table of Contents
1. Executive Summary
2. Fiber Optic Components Market characterstics
3. Fiber Optic Components Market Trends And Strategies
4. Fiber Optic Components Market – Macro Economic Scenario
5. Global Fiber Optic Components Market Size And Growth
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31. Global Fiber Optic Components Market Competitive Benchmarking
32. Global Fiber Optic Components Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fiber Optic Components Market
34. Fiber Optic Components Market Future Outlook and Potential Analysis
35. Appendix
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