Fiber optic Components Market Projected to reach 27.60 Billion USD by 2023
According to the new market research report "Fiber
Optic Components Market by Component (Transceivers, AOCs, Cables,
Amplifiers, Splitters, Connectors, Circulators), Data Rate (10G, 40G, 100G,
above 100G), Application (Communications, Distributed Sensing) - Global
Forecast to 2023", the fiber optic components market is expected to
grow from USD 17.15 Billion in 2018 to USD 27.60 Billion by 2023, at a CAGR of
10%. The factors that are driving the growth of this market are the increasing
deployment of data centers, growing internet penetration and data traffic, and
rising demand for bandwidth and reliability.
Fiber optic components market for AOCs expected to grow
at the highest rate during the forecast period
The market for AOCs is expected to grow at the highest CAGR
between 2018 and 2023. The cloud technology has developed rapidly with the beginning
of the big-data age. To satisfy the demands of higher bandwidth and more
applications in a variety of cloud computing environments, active optical
cables (AOCs) have been developed.
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Fiber optic components market for 100G expected to lead
the fiber optic components market between 2018 and 2023
The fiber optic components market for 100G is expected to
hold the largest share by 2023. The market for 100G data rate is growing as it
offers high-speed, increased data rate, predefined user configuration, and
complete automation capabilities.
Communications application expected to lead the fiber
optic components market between 2018 and 2023
Among various applications, the communications application
expected to account for the largest size of the overall fiber optic components
market between 2018 and 2023. The growth of this market can be attributed to
the mass utilization of digital technologies and applications in
telecommunications, data centers, and enterprises. Also, positive trends in
broadband and big data management are also driving the growth of the
communications application. With all this development in the communications
application, the demand for fiber optic components would also rise.
APAC expected to lead the fiber optic components market
between 2018 and 2023
APAC is expected to hold the largest size of the fiber optic
components market during the forecast period. The rising industrialization and
infrastructural development in this region have offered enormous opportunities
for the use of fiber optic components across various applications in APAC.
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Finisar (US), Lumentum (US), Broadcom (US), Sumitomo
Electric (Japan), and Accelink Technologies (China), Acacia Communications
(US), EMCORE (US), Fujitsu Optical Components (Japan), Furukawa Electric (Japan),
and II-VI (US) are the major players operating in the fiber optic components
market.
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