The Fiber Optic Components Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fiber Optic Components Global
Market Report 2024, The fiber optic components market size has grown strongly
in recent years. It will grow from $26.19 billion in 2023 to $28.62 billion in
2024 at a compound annual growth rate (CAGR) of 9.3%. 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 $41.67 billion in 2028 at a compound annual
growth rate (CAGR) of 9.9%. 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..
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.
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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
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 report table of contents includes:
1. Executive Summary
2. Fiber
Optic Components Market Characteristics
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
.
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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