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% between
2018 and 2023. The growth of this market is propelled by the increasing
deployment of data centers, growing internet penetration and data
traffic, rising demand for bandwidth and reliability, and developments
in the fiber optic components ecosystem through organic and inorganic
growth strategies such as agreements, contracts, joint ventures, product
launches and developments, acquisitions, and expansions.
Among
all the types in the fiber optic components, the market for transceiver
is expected to hold the largest share by 2023. Major factors driving the
fiber optic components market for transceivers include the greater
interconnect capability and high-speed data transmission. Moreover, the
introduction and adoption of new applications such as wearable devices,
IoT, and cloud computing to address the change in the needs of
consumers. The increasing internet penetration and data traffic are
leading to the rapid growth of data centers, along with the need for
high-speed transmission networks.
Among various applications, the
communications application accounted for the largest share of the
overall fiber optic components market in 2017. 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.
Fiber Optic Components Market By Transceivers, Cables, Amplifiers, Connectors - 2023
- May 28, 2018-