The global Fiber Optic/Optical Fiber Connector Market size is estimated to surpass $7.8 billion mark by 2026 growing at an estimated CAGR of more than 7.2% during the forecast period 2021 to 2026. This market technology is developed quickly, owing to comprehensive studies performed through thorough research and development by researchers and scientists around the world. The technology has proven to be a blessing across a wide range of applications and over time has increased the number of advances. The worldwide demand for the internet, coupled with the growing need for FTTx, is the major factor driving the growth of the fiber optics sector. Increasing demand for communication at high bandwidth through rising adoption of 5G and LTE technology is boosting market growth. For example, these systems are used with ease to transmit data, speech, and images that range from a few meters to a few km. Telecommunications and IT have a wide variety of uses as primary industries. The development of fiber-rich networks has increased the market for these cables tremendously. Lucent Connectors (LC Connectors) are set to remain the major type of Optical fiber connectors adopted in the market.
Fiber Optic/Optical Fiber Connector Market Segment Analysis - By End Use Industry
The IT & Telecom is expected to grow at a higher CAGR of 7.4% during the forecast period. Fiber optics is a significant building block for telecommunications networks. With the Internet, electronic commerce, computer networks, multimedia, voice, data, and video explosion of information traffic, the need for a transmission medium with bandwidth capabilities to handle such vast amounts of information is of paramount importance, primarily through multi fiber termination. Fiber optics, with a comparatively infinite bandwidth has proven to be the solution. In addition, 5G, LTE network, IoT, and Big Data rely heavily on the collection and transfer of data in real time. As fiber optics has unlimited potential for bandwidth, fiber optics cables and thereby connectors is chosen to support these levels of bandwidth. Additionally, more small cells (or nodes) and mobile edge computing will be needed to eliminate network bottlenecks to achieve the expected performance levels for 5G networks. Such small-cell deployments also make use of the millimeter wave spectrum by relying heavily on fiber cabled connections, primarily LC and SC connectors, for the network's backhaul component. The 5G rollout would directly add increased flexibility and reduced latency to networks. Fiber optics cable is the preferred option for 5G and LTE networks due to its scalability, safety and ability to handle the large volume of traffic in the backhaul. In return, this is expected to create a huge market opportunity for IT and Telecom's fiber optic cable market.
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Fiber Optic/Optical Fiber Connector Market Segment Analysis - By Fiber Type
During the forecast period, the Plastic segment is expected to grow at a CAGR of 5.2%. The plastic optical fiber connector market is expected to witness immense growth during the forecast period as the base material used for plastic optical fiber production differs from the base material used for multimode and single-mode optical fiber production. Based on the core materials used in POF cable construction POF differs from its single and multimode counterparts. While single- and multimode fiber optics have a core of glass, POF cables have a core of polymer. This offers a complex framework and permits cost savings. This is expected to boost the market growth of optical fiber connectors such as LC, SC and ST connectors.
Fiber Optic/Optical Fiber Connector Market Segment Analysis - By Geography
North America region dominated the global Fiber Optic/Optical Fiber Connector Market as of 2020 with a share of 35.5%. It is due to the presence of significant players namely Corning, Prysmian Group, AFL Telecom, Fitel and LS Cable and System. The U.S. accounted for a huge market base for Fiber Optic Cables due to the early adoption of fiber optic technology driven by a push from companies such as Google and Verizon. This growth of 5G and LTE networks will be a major proponent driving the adoption of fiber optic cables, not just in the U.S but globally as well. Consumers have increasingly demanded high-speed internet in their homes and on mobile devices, underpinning this rising number of companies. As a result, wireless carriers and cable providers are demanding fiber-optic cable at increasing rates. The increase in fiber-optic cable networks which utilize various connector types such as LC, SC, ST and FC, has expanded the speed and size of wireless carriers' and cable providers' data networks, providing higher-speed data transmission and larger volume data transfers. Industry revenue is projected to continue grow due to this development. The rising telecommunication.
Fiber Optic/Optical Fiber Connector Market Drivers
Increasing demand for internet
The internet is a massive, linked computer network. Fiber optics act as the internet's backbone; fiber optic cables are used as a medium for transmitting information from one point to another. According to the International Telecommunication Union (ITU), in 2019 52.4% of the world's population used the Internet. The growth rate of Internet users in 2019 was approximately 45%. Internet demand is also influenced by many other factors such as rise in the number of connected devices in households as well as in Enterprise systems connection, an increase in demand for OTT video content and an increase in access to internet. The growing importance of cloud computing, data transfer and storage, and IoT drives internet usage and increasing internet use will drive the fiber optics market. This growth will also be driven by rising adoption of LC connectors for multi fiber connector purposes.
Adoption of Fiber for 5G Infrastructure
Optical fiber and fiber-optic cabling are the most-capable media in high-speed, long-distance data transmission, evidenced by their use in the world’s most-demanding networks. Fiber’s capabilities extend beyond the transport of bits and bytes for which it is most commonly known. This includes adoption of Fiber optic cabling for 5G infrastructure as well as LTE networks in the overhaul of telecom infrastructure worldwide. As wireless and wireline networks prepare for 5G, FirstNet, and enhanced Public Safety supported networks, RF Radio Access Network (RAN) technicians and administrators face new challenges in implementing and testing wireline equipment and fiber. As 5G promises to revolutionize the communications industry by delivering complete digital connectivity. 5G requires an ultra-flexible network, supporting key scenarios (eMBB, mMTC, URLLC) with single infrastructure. In order to achieve a true 5G revolution, fibre optic cables are essential. 5G is based on a small cell model that brings connectivity closer to the end-user. This small cell model requires a crucial fibre optic cable backbone in order to deliver a cohesive internet experience. The high bandwidth and speed requirements and low latency requirements for 5G can be delivered by using fiber technology in the access network to support increased mobile backhaul and small cell rollout. In view of the requirements of 5G expected in the long run regarding data rate, latency and fail-safety, the optical fiber is basically the most future-proof and scalable medium. In addition, it is operationally cost-effective in the long term because there are no longer active network elements between the control center and the mobile radio station.
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Fiber Optic/Optical Fiber Connector Market Challenges
Alternative Technologies such as WLAN
The most basic challenge faced by the fiber-optic connector and cable manufacturers is the introduction of wireless technology to exploit the internet. The advancement in technologies has optimized the speed and features in the wireless technology. A significant market shift is visible towards the wireless systems as wireless local area network (WLAN) has become the most favorable choice of accessing the Internet in domestic as well as commercial sectors.
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Fiber Optic/Optical Fiber Connector Market. Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Llc, Prysmian Spa, Infinera Corporation, Corning INC, Birla Furukawa Fibre Optics and others are considered to be the key players of the Fiber Optic/Optical Fiber Connector Market
Acquisitions/Technology Launches/Partnerships
In June 2020, Black Box had launched a new family of networking active optical cables as a part of offering optimizing data center as well as edge network applications. These cables will help in addressing the rising demand for cloud services, big data storage as well as media streaming with offering support for SFP, SFP+, QSFP and QSFP+. Moreover, with integrated SFP/QFSP transceivers, these optical cables will help in significantly reducing the costs and complexities related to fiver installation along with overcoming the requirement of time consuming and costly testing using modular transceivers.
In April 2020, Prysmian Group announces world’s first 180µm fibre cable for FTTx and 5G networks.
Key Takeaways
Global internet internet demand, coupled with the growing need for FTTx and 5G/LTE network, is the major factor driving the growth of the Fiber Optic/Optical Fiber Connector Market.
Growing opportunities in the healthcare sector such as endoscopic imaging applications and applications for biomedical sensing are boosting the growth of Fiber Optic/Optical Fiber Connector Market, especially LC Connectors.
Advancement in technology has reached a point where the electronic devices are capable of communicating via the Internet, which is, the Internet of Things. The concept of IoT is prolifirating at a rapid pace all over the world and the only way in which it can be pursued is through data integration and a Enterprise Systems Connection. To adopt IoT readily a clutter-free internet will be required, and the fiber optics is one of the most legitimate option to achieve it.
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