Fiber Optic Components Market – Overview
The global fiber optic components market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). The global fiber optic components market is likely to benefit from the growing deployment of data centers, increasing internet penetration and data traffic, rising need for bandwidth and dependability, and advances in the fiber optic components ecosystem.
Telecom industries have released broadband network topologies such as fiber to the home (FTTH) and fiber to the building (FTTB) that necessitate a large-scale fiber-optic network. Moreover, increased internet penetration and data traffic are expected to boost the rapid expansion in data centers and the demand for high-speed transmission networks, thereby generating growth prospects in the fiber optic components market.
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Fiber Optic Components Market – Competitive Landscape
Key players operating in the global fiber optic components market are II-VI Incorporated (US), Broadcom Inc. (US), Lumentum Holdings Inc. (US), Fujitsu Optical Components (Japan), Sumitomo Electric Industries (Japan), Accelink Technologies (China), Oclaro (US), EMCORE Corporation (US), Acacia Communications, Inc. (US), and Furukawa Electric (Japan).
Key players are pursuing a variety of strategies, including new product releases and developments, geographic expansions, alliances, and acquisitions. For instance, II-VI Incorporated (US) announced high-efficiency, multifunctional metalenses in June 2021, based on an II-VI patented platform that provides ultra-compact optical sensors for a wide range of applications in automotive, consumer electronics, life sciences, and industrial markets. Optical sensors are rapidly being used in a wide range of devices.
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Fiber Optic Components Market – Trends and Opportunities
The global fiber optic components market is projected to benefit from the surging installation of data centers around the world. Fiber optic components are employed for both inter-data center communications and intra-data centers. Optical interconnects utilized for the intra-data center are used to carry data between data centers that are housed in campuses or buildings. Optical interconnects utilized for inter-data center communication, on the other hand, operate at lengthy interconnect levels since they are utilized for communicating between multiple data centers. The optical line linking two data centers can traverse huge distances and requires high transmission rates. As a result, high data bandwidth is required for these data centers to send massive amounts of data over vast distances. This is expected to boost the global fiber optic components market during the forecast period.
Moreover, the development of telecommunications infrastructure is expected to have a significant and positive impact on emerging countries. Smart gadgets and other connected applications are becoming more popular as AI, IoT, and Big Data become more prevalent. Interconnected technologies in the telecommunications sector serve a critical role in acquiring, interpreting, and transmitting data into useful information, which is critical for strengthening urban infrastructure. A high-speed fiber optics network, which can carry huge volumes of data at rapid speeds from one point to the other, serves as the backbone for this type of infrastructure development.
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Fiber Optic Components Market – Regional Landscape
The North America fiber optic components market is anticipated to flourish due to the strong presence of major corporations in the region, high demand for data communication, and greater use of communication devices such as tablets, smartphones, and VoIP equipment. Moreover, the burgeoning market for wearable devices and increased data center deployment are projected to propel the fiber optic components market in the region.
Asia Pacific is expected to contribute significantly to the fiber optic components market. The increasing industrialization and infrastructure improvement in the region have created several prospects for the use of fiber optic components in a variety of applications throughout APAC. Moreover, the growing use of fiber optics in the medical industry is expected to support market growth in nations such as China, Japan, and India. Furthermore, rising demand for higher bandwidth for quicker network connectivity and significant untapped prospects presented by Asia Pacific’s vast population base is projected to fuel the fiber optic components market.
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