Albany, NY -- (SBWire) -- 08/05/2019 --According to a new market report published by MRRSE, the global fiber optic connectivity market is expected to reach a value of US$ 4,194.6 Mn by 2026, owing to the increasing usage of optical components in energy efficient networks. The market is projected to expand at a CAGR of 10.5% during the forecast period from 2018 to 2026. Asia Pacific is anticipated to experience healthy growth followed by Middle East & Africa during the forecast period. Smart cities segment holds the dominant share in the global fiber optic connectivity market, due to increasing developments and investments in smart city projects across the globe.
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Optical components help in saving the total cost of ownership by a huge margin, as the cost of installation of fiber optic equipment and components is low. In a fiber optic network, the closet and switches can be mounted on the smallest of spaces available, in turn saving 45% of the capital expenditure. In a fiber optic network, upgrades are much easier, as it uses the existing optical cable and only the electronics need to be replaced, rather than replacing the whole infrastructure, which helps to save 75% of the cost. In addition, the highly-efficient equipment promises high return on investment. This low cost of ownership is achieved with fiber optic components by using a highly-centralized distribution network, which is passive in nature. With savings in both capital and operating expenditure, fiber optics leads to considerable savings in the total cost of ownership. Additionally, increasing deployment of fiber optic networks across multiple industries is expected to supplement the growth of the fiber optic connectivity market during the forecast period.
Fiber Optic Connectivity Market: Scope of the Report
The fiber optic connectivity market is segmented based on component, industry, and geography. According to the research study, the hardware component of the fiber optic connectivity market is anticipated to experience flourishing growth during the forecast period. This is mainly due to the strong demand for fiber optic components such as cable assemblies, connectors, switches, and others such as enclosures/ fiber boxes. By 2026, the hardware component of fiber optic connectivity is projected to cover more than 75% of the global market. In terms of industry segment, smart cities segment is projected to dominate the global fiber optic connectivity market. Smart cities mainly include building automation and street furniture.
Europe is leading the fiber optic connectivity market with more than 35% share globally. This is mainly due to strong penetration of fiber optic technology across various industries especially wind power, oil & gas, and mining as well as a number of smart city projects across European countries. In addition, the growth of the fiber optic connectivity market across the region is mainly supplemented by increasing demand for high data transmission across various industries. In terms of opportunities, Asia Pacific and Middle East & Africa (MEA) are expected to witness healthy growth during the forecast period. The China market is undergoing transition from wireless to wired optical communication. The mass adoption of electronic gadgets and creation of high volume of data traffic by a large number of customers further drives the end-users in China to switch to a wired optical medium from a wireless medium. Thus, Asia Pacific region is expected to witness the highest CAGR during the forecast period.
Global Fiber Optic Connectivity Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global fiber optic connectivity market. Some of the key players profiled in the market include Ciena Corporation, Adtell Integration, ADTRAN, Inc., ADVA Optical Networking, Broadcom, Inc., Cisco Systems, Inc., Corning Incorporated, Fiber Optic Services, Finisar Corporation, Fujitsu Optical Components Ltd., Hamamatsu Photonics K.K., HUBER+SUHNER AG, Huawei Technologies Co., Ltd., Infinera Corporation, Lumentum Operations LLC, OptiLayer GmbH, Optiwave Systems, Inc., and ZTE Corporation.
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The global fiber optic connectivity market is segmented as below:
Global Fiber Optic Connectivity Market, by Component
Hardware
Fiber Optic Cables
Fiber Optic Connectors
Fiber Optic Cable Assemblies
Hybrid Cables
Cabling Systems (Cable Dividers, Distributors, Junctions)
Enclosures/ Fiber Boxes
Manufacturing and Cleaning Tools
Wavelength Division Multiplexers
Transceivers
Switches
Software
Services
Professional Services
Testing Services
Global Fiber Optic Connectivity Market, by Industry
Mining
Oil & Gas
Wind Power
Electric Substation
Smart Cities (Building Automation and Street Furniture)
Global Fiber Optic Connectivity Market, by Geography
North America
The U.S.
Canada
Rest of North America
Europe
The U.K
Germany
France
Rest of Europe
Asia Pacific (APAC)
India
China
Japan
Rest of APAC
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of MEA
South America
Brazil
Rest of South America
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Fiber Optic Connectivity Market to Expand at a CAGR of 10.5% by 2026
Global fiber optic connectivity market is expected to reach a value of US$ 4,194.6 Mn by 2026, owing to the increasing usage of optical components in energy efficient networks. The market is projected to expand at a CAGR of 10.5% during the forecast period from 2018 to 2026