Global Fiber Optic Connectivity Market – Industry Analysis and Forecast (2019-2026)
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Global Fiber Optic Connectivity Market was valued US$ 2.06 Bn in 2018 and is expected to reach US$ 4.19 Bn by 2026, at a CAGR of 10.68 % during a forecast period.
Global Fiber Optic Connectivity Market, by Region
Fiber optic connectivity is a communication exchange technology in which information from one place to another is transferred with the help of light through an optical fiber. Fiber optic connectivity offers high-speed data transmission.
The market is witnessing vibrant growth on the account of growing demand for energy efficient solutions across the various industries coupled with low cost associated with the data transfer. This is expected to boost the growth of fiber optic connectivity market during the forecast period. The growing technological advancement in the field of communication technology is also major reason for the growth of fiber optic connectivity market.
Technical and operational issues such as attenuation, dispersion, data and signal losses associated with fiber optics are expected to restrain market growth. Additionally, booming growth of wireless networking systems across the world is also hampering the fiber optic connectivity market in long-term. However, the growing technical issues related to fiber optic fiber optic connectivity market is expected to restrain the growth of market during the forecast period.
Based on a component, the hardware component of the market is anticipated to account for more than 75% of the global market during the forecast period because of the strong demand for components such as cable assemblies, connectors, switches, and others such as enclosures & fiber boxes. In terms of industry, smart cities segment is expected to generate the highest revenue within the fiber optic connectivity market due to increasing developments and investments in smart city projects.
Region-wise, Europe play important roles in fiber optic connectivity market, with market size of US$ XX Mn in 2018 and will be US$ XX Mn in 2026, with a CAGR of XX%. Europe covers a large share of the fiber optic connectivity market due to strong adoption and penetration of fiber optic components in industries such as oil & gas, wind power, electric substation, and smart cities. The Asia Pacific and Middle East & Africa are anticipated to offer lucrative opportunities to the fiber optic connectivity market due to increasing investments and developments for digitization and automation of operations across the regions.
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Last Update : 12 August 2020
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