According to a new report from Zion Market Research, the global fibre optic connectors market was worth around US$3.3 billion in 2017 and could reach approximately US$5.6 billion by 2024. This represents a CAGR of slightly above 7.8% between 2018 and 2024. Zion segments the global fibre optic connectors market by product, cable, application, and end-user.
The product segment of the market includes Standard Connectors (SC), Lucent Connectors (LC), Ferrule Connectors (FC), Straight Tip (ST), Multiple-Fibre Push-On/Pull-Off (MTP/MPO), MXC connectors, and others. Zion anticipates that the MTP/MPO category will grow significantly in the forecast timeframe due to the reduced installation time and high reliability associated with that type.
In terms of cable, the research house divides the opportunity into simplex, duplex, and multi-fibre. By application, the market includes datacom, DWDM systems, high-density interconnection, inter/intrabuilding, security systems, community antenna television, and others. By end-user, this market is classified into IT and telecom, automotive, BFSI, manufacturing, government, healthcare, aerospace and defence, among others. Zion reckons the IT and telecom segment will likely dominate the market in the upcoming year.
By region, North America is expected to hold a substantial market share in the forecast time period. This regional market is mainly fuelled by escalating demand for fibre optic cables for datacentre applications. In 2018, reports Zion, there was an increase of more than 44% in hyper-scale datacentres in the USA alone.
Emerging market demand in the medical sector is expected to drive the European fibre optic connectors market. Applications here include light conduction and illumination, laser delivery systems, and flexible bundling, among others.
The Asia Pacific region is likely to dominate the market globally, and account for the largest market share. Fibre optic connectors are in high demand in various Asian countries due to the rising adoption of optical technology by the telecommunication sector. A growing need for upgraded network security infrastructure in emerging economies, such as India and China, is another factor thought likely to boost demand. A rise in the number of Internet users is a main driver in Latin America.
Among the main players in the fibre optic connectors market Zion lists: TE Connectivity Ltd; Corning Cable Systems LLC; Alcatel-Lucent S.A.; Hitachi Ltd; Ratioplast Electronics; 3M; Broadcom Limited; Amphenol Corporation; Sumitomo Electric Industries; Arris Group Inc; Diamond SA; Hirose Electric Co. Ltd; ZTE Corporation; Sterlite Optical Technologies Limited; Furukawa Electric Co Ltd; and AT&T.
For more information, visit www.zionmarketresearch.com/