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Fiber Optic Connectors market Size
Increasing demand for high bandwidth, greater safety concerns and wider applications of fiber optics connector is boosting the market growth.
WILMINGTON, DE, UNITED STATES, October 15, 2024 /EINPresswire / -- Allied Market Research published a new report, titled, " The Global Fiber Optic Connectors Market Size Projected to Reach USD 11.4 Billion by 2030, Growing with 9.1% of CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global fiber optic connectors market was valued at $4.87 billion in 2020, and is projected to reach $11.44 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.
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Increase in demand for high bandwidth, greater safety concerns and wider applications of fiber optics connector drives 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.
The global fiber optic connectors industry is segmented on the basis of type, application, and region. Depending on type, the market is classified into lucent connector (LC), subscriber connector (SC), straight tip (ST), multi-fiber termination push on/pull off (MTP), master unit (MU), fiber distributed data interface (FDDI), and sub multi assembly (SMA) and others. By application, it is segregated into telecom, oil and gas, military & aerospace, BFSI, medical, railway, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the key players operating in the global fiber optic connectors industry include 3M, Amphenol Corporation, Aptiv, Broadcom, Extron, Molex, OCC, Siemens AG, Shenzhen ADTEK Technology Co., Ltd., and T.E. Connectivity. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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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.
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.
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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.
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.
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COVID-19 Scenario:
The outbreak of the COVID-19 pandemic led to has had a positive impact on the global fiber optic connectors market.
Most of the companies started adopting fiber optic 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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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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