Portland, OR -- (SBWIRE) -- 06/15/2017 -- Fiber optic connectors are primarily used in the telecommunication sector. However, with the increasing need of high bandwidth services, applications such as high density networks, inter/intra building, security systems, and community antenna television also exhibit a large adoption of fiber optic connectors. The telecommunication application of fiber optic connectors is forecast to grow at a CAGR of 8.3% during 2015-2020.
Fiber Optic Connectors Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $4.9 billion by 2020, registering a CAGR of 9.9% during the period 2015-2020. The rising demand of high bandwidth services, would primarily drive the fiber optic connectors market. Factors such as increasing cloud applications, audio and video services, TV-on-Demand and online gaming would further stimulate the growth of this market. 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.
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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.
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Fiber optic connectors are increasingly being used in the security sector. The rising need of data security in the defense and aerospace sector has boosted the growth of this market. There is a huge demand for fiber optics connectors in the security sector for inherent security, huge bandwidth capabilities and protection against 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.
Lucent fiber optic connectors are deployed in high-density connections, local area networks, telecommunication networks, community antenna television (CATV), data processing networks, fiber-to-the-home (FTTH), and fiber-to-the-premises (FTTP) distribution. Lucent fiber optic connectors held the maximum percentage share in the global fiber optic connectors market in 2014, followed by the segment of subscriber connectors accounting for a share of 29.2% of the global market in 2014. Subscriber connectors are forecast to grow at a CAGR of 11.3% during 2015-2020. 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.
The high initial investment associated with the fiber optic connectors limits its market growth. Also, fiber optic connectors face a threat from emerging wireless broadband technologies. Numerous governments are heavily investing in the replacement of coaxial cables with fiber optic cables across all public communication networks. Several initiatives are taken by governments across the world to improve the network infrastructure in their countries, thereby increasing the connectivity within the region and subsequently enhancing the business opportunities.
Key findings of Fiber Optic Connectors Market:
-The global fiber optic connectors market is forecast to grow at a high rate owing to high bandwidth requirements of customers and increased adoption of mobile devices
-The telecommunication application of fiber optic connectors accounts for a major share in the global fiber optic connectors market
-The segment of subscriber connectors would register the fastest CAGR of 11.3% during 2015-2020
-North America is the highest revenue generating region in the global fiber optic connectors market and would continue to be the leading market over the forecast period
The major players in the market include Siemens, T.E. Connectivity, Delphi, Adtek Group Limited, Shenzhen DYS Fiber Optic Technology Co. Ltd, Extron Electronics, Amphenol Corporation, Molex Incorporated, 3M, and Optical Cable Corporation. These players introduce new products to enhance their portfolios and cater to the growing needs of the consumers. Partnerships and collaborations provide growth opportunities to these players in terms of enhancing the product portfolio and geographic expansion.
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