According to a recent report by FMI, the Fiber Optic Connectivity Market is anticipated to grow at a rapid CAGR of 9.6% to reach US$ 7.0 billion by 2032, up from US$ 2.5 billion in 2022. This report illustrates how demand for fiber optic technology in numerous industrial sectors, as well as in the submarine and aircraft industries, affects market growth.
The market is also predicted to expand throughout the forecast period as a result of the increased global demand for energy-efficient solutions across numerous sectors. The expansion of the market is also impacted by the demand for fiber optic technology across a variety of industrial sectors, as well as in the submarine and aircraft industries.
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Additionally, because data transit is so inexpensive, it is anticipated that the market for fiber optic communication would grow. In addition, it is anticipated that several new opportunities brought about by advancements in communication technology will accelerate the expansion of the market for fiber optic connectivity during the course of the anticipated period. Longer distance transmission with lower security risk is a crucial factor that is projected to promote the growth of the Fiber Optic Connectivity market.
Key Takeaways from the Market Study
- Global Fiber Optic Connectivity Market was valued at US$ 2.8 Bn by 2022-end
- The US to account for the highest value share of US$ 1 Bn of global market demand for Fiber Optic Connectivity Market in 2032
- From 2015 to 2021, the Fiber Optic Connectivity demand expanded at a CAGR of 10.1%
- By Component, Hardware constitutes the bulk of Fiber Optic Connectivity with a CAGR of 9.4%.
Players in the global Fiber Optic Connectivity Market put a lot of effort into extending their presence internationally through a variety of tactics, including alliances, collaborations, and partnerships. In order to improve their products and solidify their place in the global market, the players are also investing a sizable amount of money in RD. Recent changes among the major players include:
- In March 2022, Zain Group signed a Memorandum of Understanding (MoU) with Huawei to accelerate 5.5G Innovation to enrich the customer experience across multiple markets. Within the scope of the MoU, Huawei will support Zain Group to optimize its network architecture to extend 5G capabilities to support IoT, Ultra-Reliable Low Latency Communications, uplink centric broadband, real-time broadband communication, harmonized communication, and sensing.
- In January 2022, Corning Incorporated announced the launch of a new glass composition to advance the development of augmented and mixed reality (AR/MR) diffractive waveguides for wearable devices. Optical advancements inherent in the glass take the augmented reality experience to the next level through larger, clearer digital content that creates more engaging and immersive user experiences.
- In November 2021, HUBER+SUHNER and McLaren launched 5G applications to run on trains, the HUBER+SUHNER SENCITY® Rail ACTIVE Rooftop antenna, which is the first-of-its-kind rail antenna that contains an embedded radio and compute module to offer increased data throughput to support 5G services. It is an all-in-one active antenna with a single ethernet cable input for power and data transmission.
- Adtell Integration
- Adtran Inc.
- Cisco Systems Inc.
- Corning Incorporated
- Fiber Optic Services (FOS)
- Finisar Corporation
- Fujitsu Optical Components Ltd.
- Hamamatsu Photonics KK
- Huawei Technologies Co.
- HUBER+SUHNER AG
- Infinera Corporation
- OptiLayer GmbH
- Optiwave Systems, Inc.
- ZTE Corporation
Key Segments Covered in the Fiber Optic Connectivity Market Report
- Fiber Optic Connectivity Hardware
- Fiber Optic Connectivity Software
- Fiber Optic Connectivity Services
- Fiber Optic Connectivity for Mining
- Fiber Optic Connectivity for Oil Gas
- Fiber Optic Connectivity for Wind Power
- Fiber Optic Connectivity for Electric Substations
- Fiber Optic Connectivity for Smart Cities