Fiber Optic Connectors Market Drivers Shaping Future Growth, Revenue USD 11.44 Billion by 2030 | CAGR 9.1%
Growing security and safety concerns and needing 4G services to drive the fiber optic connectors industry forward.
PORTLAND, PORTLAND, OR, UNITED STATE, March 23, 2023 /EINPresswire.com/ — An increase in demand for high bandwidth, greater safety concerns and wider applications of fiber optics connectors drive the growth of the global fiber optic connectors market. However, high investment cost, growing adoption of wireless broadband and other technologies, and new infrastructure requirements restrain the growth to some extent. On the other hand, increased investments by governments, diverse applications, and emerging economies present new opportunities in the upcoming years.
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According to the report published by Allied Market Research, the global fiber optic connectors market generated $4.8 billion in 2020, and is projected to reach $11.4 billion by 2030, witnessing a CAGR of 9.1% from 2021 to 2030. The report analyzes changing market dynamics, top segments, value chain, key investment pockets, regional scenarios, and competitive landscape.
The report offers detailed segmentation of the global fiber optic connectors market based on type, application, and region.
Based on type, the Lucent Connector (LC) segment held the highest market share in 2020, holding more than one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the Subscriber Connector (SC) segment is estimated to register the highest CAGR of 10.6% from 2021 to 2030.
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Based on application, the telecom segment held the largest market share in 2020, holding nearly one-fourth of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the medical segment is projected to register the highest CAGR of 11.4% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the global aircraft tires market, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 10.3% during the forecast period. The report also includes North America, LAMEA, and Europe.
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Leading players of the global fiber optic connectors industry analyzed in the research include 3M, Amphenol Corporation, Aptiv, Broadcom, Extron, Molex, OCC, Siemens AG, Shenzhen ADTEK Technology Co., Ltd., and T.E. Connectivity.
• The outbreak of the COVID-19 pandemic led to has had a positive impact on the global fiber optic connectors market.
• Most companies started adopting fiber optics to transmit information in various forms like text, sound, voice, and video, which in turn boosted the growth of the market.
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