- August 20, 2015
- Transparency Market Research
The global fiber optic connectors market is exhibiting enormous growth on the account of rising demand for improved security, high bandwidth, and fast connectivity.
The global fiber optic connectors market is exhibiting enormous growth on the account of rising demand for improved security, high bandwidth, and fast connectivity. In 2014, the market had reached a value of US$2.72 billion. Aided by large-scale production and technical development, the global fiber optic connectors market is projected to expand at a CAGR of 7.4% during the period of 2015-2021 and attain US$4.43 billion by the end of the term.Though the market is showing immense growth, but analysts expect that owing to the significant development of wireless networking systems, the fiber optic connectors market will face a tough challenge.
LC Market to Report Impressive Growth on Account of Heightened Demand
The markets for lucent connectors (LC), straight-tip (ST) connectors, standard connectors (SC), multiple-fiber pull-off/push-on (MTP/MPO), and others such as mechanical transfer registered jack, ferrule connectors, and aviation immediate maintenance connectors are the major product segments of the global fiber optic connectors market.
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Among these, the LC market segment held the leading position in 2014. Lucent connectors, mostly utilized for high density connections, are applied in data processing networks, telecommunication networks, local area networks (LANs), cable television (CATV), fiber-to-the-home, and premises distribution systems. These connectors are half the size of standard connectors and are highly efficient and because of this, nowadays, LC is replacing SC in corporate networking systems. On account of the rising demand, the market for LC is expected to register impressive growth in the forthcoming years.
On the basis of application, the global fiber optic connectors market is classified into the markets for telecom, datacom, lasers, DWDM systems, and others such as medical and healthcare, military, and CATV. Among these, the telecom industry emerged as the leader in 2014 on account of the high uptake of fiber optic connectors as the transmission medium for long-distance transmission and high data rate in the telecommunications network. The rising demand for faster internet services and superior telecom capacity is resulting in extensive usage of optical fiber connectors in the telecom networks, stimulating the growth of the market to a great extent.
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Rising Penetration of High-density Multi-fiber Connectors Driving North American Market
The global market for fiber optic connectors is spread across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2014, the North America fiber optic connectors market attained the topmost position by holding a 38.2% share of the overall market. The rising penetration of high-density multi-fiber connectors in most of the data centers in the region is one of the major growth drivers of this market in North America.
In the same year, the fiber optic connectors market in Asia Pacific was ranked second, occupying a 30.6% share of the global market. Continuous development in cabling technology and high-speed fiber optic networks is the major factor fueling the growth of this market in the Asia Pacific region.
The global market for fiber optic connectors is fragmented and extremely competitive owing to the presence of a large base of fiber optic connector manufacturers. Arris Group Inc., Avago Technologies, Corning Cable Systems LLC., Hirose Electric Co. Ltd., 3M, Alcatel-Lucent SA, Ratioplast Electronics, Hitachi Ltd., Sumitomo Electric Ind., TE Connectivity Ltd., Amphenol Corp., ZTE Corp., Diamond SA, Furukawa Electric Co. Ltd., and Sterlite Optical Technologies Ltd. are the major players operating in the global fiber optic connectors market.
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