Fiber optic connectors, as the name suggests, are components that help establish a connection between two optic fibers. The role of a connector is important to transmit light between the cores of two optic fibers. The telecom industry is fast progressing switching over to optic fibers thanks to their remarkable bandwidth, speed, and longevity. As a result of this, the demand for fiber optic connectors market is expected to subsequently rise too. With manufacturing fiber optic connectors on the mass scale now having become possible, this particular advancement will have a far-reaching impact on the fiber optic connectors market. On the demand side, the increased need for high bandwidth is expected to prompt more telecom service providers and their vendors to invest in fiber optic networks, stimulating the demand for fiber optic connectors.
Browse the full Global Fiber Optic Connectors Market report at http://www.mrrse.com/fiber-optic-connectors-market
According to a new report on Market Research Reports Search Engine (MRRSE), fiber optic connectors will constitute a market worth US$4.40 bn by the end of 2021 at a CAGR of 7.40%.
Fiber Optics Face Competition from Wireless Networks, Slowing Down Demand for Fiber Optic Connectors
The demand for data and bandwidth has surpassed the capacities of many traditional telecom networks. With a change of this scale brewing, there is a greater demand for wireless networks. As wireless networks bring with them greater possibilities with relation to bandwidth and speed, consumers are now willing to spend more on wireless networks. If demand for optic fibers sees a dip, it poses a veritable threat to the growth of the fiber optic connectors market as well. Moreover, optic fibers are not the most cost-effective network connectivity solution available on the market today. This intrinsically acts as a restraint to the growth of the fiber optic connectors market.
Medical Industry and Data Center Networks Represent Opportunity worth Exploring
There are two areas that are proving to be massive consumers of fiber optic connectors: Data centers and medical institutions. In the former, the low latency and high transmission speeds of optic fibers make a compelling case for investing in fiber optic networks. The deployment of data centers is on the rise thanks to rapid advancements in cloud computing and increased internet penetration. At the same time, hospitals and medical centers are going digital and pumping in massive funds into interconnected facilities. The fiber optic connectors market will benefit immensely from this trend as well.
North America Leads Fiber Optic Connectors Market, Asia Pacific Follows
The demand for fiber optic connectors is the highest in the North America region because of the high number of data centers located here. Fiber optic networks cover more area in the United States than any other country. As a result of these favorable factors, North America held a share of 38.2% in the global fiber optic connectors market in 2014. Asia Pacific stood at a distant second with 30.6% of the market in revenue terms. Cabling technology advancements in the region can be largely credited for the substantial demand for fiber optic connectors in the region. Moreover, several conventional networks are being upgraded to high-speed fiber optic networks. This again, augurs well for the growth of the Asia Pacific fiber optic connectors market.