The rising needs of data security in the defense and aerospace sector increase the adoption of fiber optic connectors that fuels the growth of the market. The requirement of high internet speed and exchanging of large data files also grow the demand for the fiber optic connectors market.
Fiber optic connectors exhibit a rapid adoption in enterprises as they enhance the network structure and increase the efficiency of operations. Fiber optic connectors offer greater bandwidth, enhanced reliability and agility, and improved security. The increasing adoption of smartphones and other devices has resulted in huge demand for high-speed data services, a key factor that accelerates the growth of fiber optic connectors. The increasing fiber-to-the-premises, fiber-to-the-home, and fiber-to-the-building applications for improved high bandwidth services also supplement the growth of the fiber optic connectors market. Key players in the market are increasingly developing high-quality, affordable, compact, and energy-efficient connectors to cater to the growing demands of the customers.
The global fiber optic connectors market is expected to garner $4.9 billion by 2020, registering a CAGR of 9.9% during the period 2015-2020. The rising demand for high bandwidth services would primarily drive the fiber optic connectors market. Factors such as increasing cloud applications, audio and video services, TV-on-Demand and online gaming would further stimulate the growth of this market. The north American region is expected to register the highest CAGR of 9.1% during the forecast period, owing to the high adoption of fiber optic connectors in data centers, enterprises and security sectors.
Lucent fiber optic connectors are deployed in high-density connections, local area networks, telecommunication networks, community antenna television (CATV), data processing networks, fiber-to-the-home (FTTH), and fiber-to-the-premises (FTTP) distribution. Lucent fiber optic connectors held the maximum percentage share in the global fiber optic connectors market in 2014, followed by the segment of subscriber connectors accounting for a share of 29.2% of the global market in 2014. Subscriber connectors are forecast to grow at a CAGR of 11.3% during 2015-2020. In the coming years, lucent connectors, subscriber connectors, and Multi-Fiber Termination Push On/Pull Off (MTP) connectors would further increase the market penetration owing to their wide application areas.
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Fiber optic connectors are increasingly being used in the security sector. The rising need of data security in the defense and aerospace sector has boosted the growth of this market. There is a huge demand for fiber optics connectors in the security sector for inherent security, huge bandwidth capabilities, and protection against interference. The application of fiber optic connectors in security systems is forecast to register a CAGR of 12.4% during 2015-2020 and is expected to provide potential growth opportunities for players in this market.
The high initial investment associated with the fiber optic connectors limits its market growth. Also, fiber optic connectors face a threat from emerging wireless broadband technologies. Numerous governments are heavily investing in the replacement of coaxial cables with fiber optic cables across all public communication networks. Several initiatives are taken by governments across the world to improve the network infrastructure in their countries, thereby increasing the connectivity within the region and subsequently enhancing the business opportunities.
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Profiling Key Players: Siemens, T.E. Connectivity, Delphi, Adtek Group Limited, Shenzhen DYS Fiber Optic Technology Co. Ltd, Extron Electronics, Amphenol Corporation, Molex Incorporated, 3M, and Optical Cable Corporation.
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