Fiber Optic Component Market to Reach $53.6 Billion, Globally, by 2031 at 8.8% CAGR: Allied Market Research

Surge in deployment of data centers, growing adoption of fiber-based internet connection by businesses, rise in data traffic, increasing demand for bandwidth and reliability, and developments in the fiber optic components ecosystem drive the global fiber optic component market growth.

PORTLAND, Ore., Jan. 13, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Fiber Optic Component Market by Type (Cables, Amplifiers, Active Optical Cables, Splitters, Connectors, Transceivers, Others), by Data Rate (10 G, 40 G, 100 G, Above 100 G), by Application (Communications, Distributed Sensing, Analytical and Medical Equipment, Lighting): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global fiber optic component industry generated $23.6 billion in 2021, and is estimated to reach $53.6 billion by 2031, witnessing a CAGR of 8.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Surge in deployment of data centers, growing adoption of fiber-based internet connection by businesses, rise in data traffic, increasing demand for bandwidth and reliability, and developments in the fiber optic components ecosystem drive the growth of the global fiber optic component market. However, fragile nature of fiber optic components hampers the market growth. On the other hand, increase in telecom infrastructure is expected to offer lucrative opportunities for the market expansion in the coming years.

Covid-19 Scenario

• The global fiber optic component market was severely affected by the COVID-19 pandemic. Due to the extended lockdowns and unavailability of labor, manufacturing facilities were shut down and production activities came to a halt. Disruptions in the distribution channel caused difficulties in obtaining raw materials and machinery.
• The market witnessed a steep decline during 2019-2020. Companies operating in the global fiber optic components industry temporarily experienced a slowdown, owing to lack of availability of skilled workforce to manufacture global fiber optic components, and this led to a decline in market revenue for the financial year 2020 to 2021.
• However, with the introduction of vaccines, the severity of the pandemic reduced significantly and companies in the industry gradually resumed their normal operations.

The 100G Segment to Maintain a Progressive Growth during the Forecast Period

Based on data rate, the 100G segment was the largest market in 2021, contributing to more than half of the global fiber optic component market, and is expected to maintain its leadership status during the forecast period. Moreover, the segment is projected to witness the fastest CAGR of 9.49% from 2022 to 2031. This is due to the higher performance of 100G than previous switching technologies, and its low cost compared to 40G with 25% increase in performance.

The Communications Segment to Maintain its Leadership in Terms of Revenue During the Forecast Period

Based on application, the communications segment was the largest market in 2021, contributing to nearly three-fifths of the global fiber optic component market, and is expected to maintain its leadership status during the forecast period. Manufacturers of optical transceivers are placing a greater emphasis on research and development in order to support various applications in the metro network, data center interconnect, long-haul applications, and other areas that call for optical transceivers to be compatible with the intricate network. On the other hand, the distributed sensing segment is projected to witness the fastest CAGR of 10.1% from 2022 to 2031. Distributed fiber optic sensors are increasingly being used in the infrastructure sector, especially for monitoring structural health.

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The Cables Segment to Maintain its Leadership in Terms of Revenue During the Forecast Period

Based on type, the cables segment was the largest market in 2021, contributing to nearly one-third of the global fiber optic component market, and is expected to maintain its leadership status during the forecast period. Fiber optic cables have higher capacity and can carry data over greater distances than conventional wires with little loss. On the other hand, the transceivers segment is projected to witness the fastest CAGR of 12.0% from 2022 to 2031, due to their high demand in the telecom and data center industries, owing to their energy-efficient features and inexpensiveness.

Asia-Pacific to Maintain its Dominance by 2031

Based on region, Asia-Pacific was the largest market in 2021, capturing nearly half of the global fiber optic component market, and is expected to lead the trail during the forecast period. Moreover, the same market is projected to manifest the fastest CAGR of 9.63% during the forecast period, owing to the continuous investment in data centers in Asia-Pacific. Also, due to the growing demand for data storage, some of the data center companies in the region look to rent or share data center facilities instead of owning them. The report also analyzes the North America, Europe, and LAMEA segments.

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Leading Market Players

• Furukawa Electric
• Sumitomo Electric Industries
• Lumentum Holdings Inc.
• Accelink Technologies Co. Ltd.
• II-VI Incorporated
• Broadcom Inc.
• Acacia Communications, Inc.
• Fujitsu Optical Components
• EMCORE Corporation
• Tongding Interconnection Information Co Ltd.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fiber optic component market analysis and fiber optic component market outlook from 2021 to 2031 to identify the prevailing fiber optic component market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the digital film cameras market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global digital cinema cameras market trends, key players, market segments, application areas, and market growth strategies.

Fiber Optic Component Market Key Segments:

Data Rate

• 10 G
• 40 G
• 100 G
• Above 100 G

Application

• Communications
• Distributed Sensing
• Analytical and Medical Equipment
• Lighting

Type

• Cables
• Amplifiers
• Active Optical Cables
• Splitters
• Connectors
• Transceivers
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

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