The global fibre optic connector market is foreast to reach $5.9 billion by 2025, according to a new report by Grand View Research. The fibre optics segment is expected to grow, significantly, over the forecast period. Fibre optic connectors have huge potential to be incorporated into a wide range of applications in the healthcare, railway, defence & aerospace, and oil & gas sectors.
This technology is under constant R & D and aims to develop low-cost applications and technological solutions for the mass market. The fibre optic technology has gained prominence over the past few years, owing to the persistent research & development activities and the escalating demand from high bandwidth communication and data services.
The growing penetration of the fibre optics technology is encouraging manufacturers and suppliers to invest in research & development for developing better products. Researchers are focusing on innovating reliable and cost-effective products, as the production and installation of such products are quite tedious and costly.
The fibre optics market includes different connectors such as SC, LC, FC, ST, MTP connectors, among others. Based on diverse applications, the market is segmented into military & aerospace, oil & gas, telecom, medical, BFSI, railway, and others. The telecoms sector is the biggest application sector, in terms of revenue, and is regulated by the regulations imposed by government and other related regulatory authorities.
In 2015, the LC connector segment dominated the overall market, in terms of revenue. A LC connector is used in high-density connections such as Cisco Catalyst switches and Hewlett Packard Pro Curve. During 2015, the North American regional market dominated the overall market and accounted for the largest global market share in terms of revenue.
Growing demand for connectors can be attributed to the ever-growing bandwidth requirements across enterprise and carrier networks. Fibre optic connectors find many dynamic applications across the medical industry also, as they are mainly deployed in flexible bundling, light conduction & illumination, and laser delivery systems.
The full report can be seen on the reportlinker website