Not surprisingly, a new report titled, “World Fiber Optic Connectors – Market Opportunities and Forecasts, 2014 – 2020” says that the global fiber optic connectors market is expected to reach $4.9 billion by 2020, registering a CAGR of 9.9% during 2015-2020.
This growth can be attributed to higher bandwidth applications that require the security and speed proven with fiber optic cables and connectors. Clearly, telecommunications and data applications, such as cloud, audio and video, television and online gaming are big drivers of this market.
However, industrial applications, such as those in aerospace and defense, are beginning to take up a larger piece of the pie. This can be seen with several new product releases over recent months from major manufacturers like TE Connectivity, Molex, Amphenol, Conec, Fischer Connectors, Ametek and others, which have been highlighted here. Fiber optic connectors are choice here because of their speed and bandwidth, but also because they have a great resistance to outside interference.
The application of fiber optic connectors in security systems is forecast to register a CAGR of 12.4% during 2015-2020 and is expected to provide potential growth opportunities for players in this market.
According to Research & Markets, the author of the study, the North American region is expected to register the highest CAGR of 9.1% during the forecast period, owing to the high adoption of fiber optic connectors in datacenters, enterprises and security sectors.
Fiber optic connectors exhibit a rapid adoption in enterprises as they enhance the network structure and increase the efficiency of operations. Fiber optic connectors offer greater bandwidth, enhanced reliability and agility, and improved security. The increasing adoption of smartphones and other devices has resulted in a huge demand for high-speed data services, a key factor that accelerates the growth of fiber optic connectors. The increasing fiber-to-the-premises, fiber-to-the-home and fiber-to-the-building applications for improved high bandwidth services also supplement the growth of fiber optic connectors market. Key players in the market are increasingly developing high quality, affordable, compact and energy efficient connectors to cater the growing demands of the customers.
The study says that the telecommunication application of fiber optic connectors is forecast to grow at a CAGR of 8.3% during 2015-2020. Additionally, in the coming years, lucent connectors, subscriber connectors, and Multi-Fiber Termination Push On/Pull Off (MTP) connectors would further increase the market penetration owing to their wide application areas.
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