Sarasota, FL -- (SBWire) -- 01/18/2019 --Zion Market Research has published a new report titled "Fiber Optic Connectors Market by Product (SC(Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and Others), by Cable (Simplex, Duplex, and Multi-fiber), by Application (Datacom, DWDM systems, High Density Interconnection, Inter/Intra Building, Security Systems, Community Antenna Television, and Others), and by End-User (IT and Telecom, Automotive, BFSI, Manufacturing, Government, Healthcare, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024''. According to the report, the global fiber optic connectors market was around USD 3.3 billion in 2017 and is expected to reach approximately USD 5.6 billion by 2024, at a CAGR of slightly above 7.8% between 2018 and 2024.
A connector implied for connection or disconnection of a fiber optic cable based on user requirement is a fiber optic connector. When compared to splicing, fiber optic connectors are preferred due to their flexibility and ease of connection.
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The demand for fiber optics is gaining momentum across the globe, which is likely to drive the fiber optic connectors market in the years ahead. Increasing R&D activities are projected for development and up-gradation of fiber optic cables. Remarkably growing in data transfer rates will substantially contribute toward this market in the upcoming years. Additionally, increasing awareness about the benefits offered by fiber optics technology is likely to further drive this market. Fiber optics market is expected to account for over USD 5 billion by 2022. However, the high initial installation costs of fiber optic cables might hamper the market in the future. Fiber optics plays a vital role in internet communication, as connectors are assembled at the end of fiber cables. The surging internet demand is significantly contributing toward this market demand over the forecast timeframe. The number of internet users increased to over 3 billion across the world in the year 2017.
The global fiber optic connectors market is segmented by product, cable, application, and end-user. The product segment of the market includes SC (Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and others. By cable, the market is classified into simplex, duplex, and multi-fiber. By application, this market includes Datacom, DWDM systems, high-density interconnection, inter/intrabuilding, security systems, community antenna television, and others. The MTP/MPO segment is anticipated to grow significantly in the forecast timeframe due to less installation time and high reliability. By end-user, this market is classified into IT and telecom, automotive, BFSI, manufacturing, government, healthcare, aerospace and defense, and others. The IT and telecom segment is likely to dominate the fiber optic connectors market in the upcoming years.
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Based on the region, the fiber optic connectors market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region is projected to hold a substantial market share globally, due to the rapid development of the telecommunication sector, particularly in emerging economies, such as India and China.
Some renowned players of the fiber optic connectors market TE Connectivity Ltd., Corning Cable Systems LLC, Alcatel-Lucent S.A., Hitachi Ltd., Ratioplast Electronics, 3M, Broadcom Limited, Amphenol Corporation, Sumitomo Electric Industries, Arris Group Inc., Diamond SA, Hirose Electric Co. Ltd., ZTE Corporation, Sterlite Optical Technologies Limited, Furukawa Electric Co., Ltd., and AT&T, among others.
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This report segments the global fiber optic connectors market into:
Fiber Optic Connectors Market: Product Analysis
SC (Standard Connectors)
LC (Lucent Connectors)
FC(Ferrule Connector)
ST (Straight Tip)
MTP/MPO (Multiple-Fiber Push-On/Pull-Off)
MXC Connector
Others
Fiber Optic Connectors Market: Cable Analysis
Simplex
Duplex
Multi-Fiber
Fiber Optic Connectors Market: Application Analysis
Datacom
DWDM systems
High-Density Interconnection
Inter/Intra Building
Security Systems
Community Antenna Television
Others
Fiber Optic Connectors Market: End-User Analysis
IT and Telecom
Automotive
BFSI
Manufacturing
Government
Healthcare
Aerospace and Defense
Others
Fiber Optic Connectors Market: Regional Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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Global Fiber Optic Connectors Market an Opportunity to Create Wealth US $5.6 Billion by 2024
Fiber Optic Connectors Market by Product (SC(Standard Connectors), LC (Lucent Connectors), FC(Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connectors, and Others), by Cable (Simplex, Duplex, and Multi-fiber), by Application (Datacom, DWDM systems, High Density Interconnection, Inter/Intra Building, Security Systems, Community Antenna Television, and Others), and by End-User (IT and Telecom, Automotive, BFSI, Manufacturing, Government, Healthcare, Aerospace and Defense, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024