The global fiber optic connectors market size was 5.31 billion in 2021. The global fiber optic connectors market size is forecast to reach US$ 11.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.2% during the forecast period from 2022 to 2030.
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An optical fiber connector connects optical fibers and allows faster connection and disconnection than splicing. The use of fiber-optic connections is widespread across a variety of areas, including data centers, telephony, inter-, and intra-building applications, community antenna TV, security systems, and high-density connectivity.
Growing demand for high bandwidth, greater safety concerns, and a broader range of applications are contributing to the growth of the global fiber optic connector market.
The increasing use of FTTH (Fiber to the Home) and the growing adoption of mobile devices positively impact the global market growth.
The high investment costs, growth of wireless broadband, and new infrastructure requirements may slow down the overall market’s growth.
Increasing government investments, a variety of applications, and emerging economies are all expected to offer lucrative opportunities for the global fiber optic connectors market.
The COVID-19 pandemic has positively affected the global fiber optic connectors market. Several countries-imposed lockdowns in an effort to curb the spread of COVID-19. As a result, remote working has increased the demand for networking infrastructure and connectivity among companies. Additionally, many companies have begun adapting their working and operating practices thanks to solutions such as Microsoft Teams and other collaboration tools. A rising number of industry event cancellations results in reduced sponsorship and networking opportunities for business development. Consequently, canceled domestic and international business trips result in a sharp rise in fiber optic connectors.
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In terms of region, Asia-Pacific accounted for a significant share of the fiber optic connectors market in 2021 and is forecast to grow significantly over the forecast period. As a result of the presence of many large enterprises, universities, government organizations, and banks. Additionally, enterprises, government organizations, and educational centers are requiring more connectivity, which ultimately increases the demand for fiber optic connectors.
The leading prominent companies profiled in the global fiber optic connectors market are:
Shenzhen ADTEK Technology Co., Limited
The global fiber optic connectors market segmentation focuses on Type, Application, and Region.
Multi-Fiber Termination Push On/Pull Off (MTP)
Fiber Distributed Data Interface (FDDI)
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Middle East & Africa (MEA)
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