Market research report published by MarektsandMarkets "Fiber Optic Components Market analyze the fiber optic components market by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate (10G, 40G, 100G, above 100G), Application (Communications, Distributed Sensing) – Global Forecast to 2023 is expected to grow from USD 17.15 Billion in 2018 to USD 27.60 Billion by 2023, at a CAGR of 10%.
The factors that are driving the growth of this market are the increasing deployment of data centers, growing internet penetration and data traffic, and rising demand for bandwidth and reliability.
Major Driving factors of the Market-
Increasing Deployment of Data Centers
Growing Internet Penetration and Data Traffic
Rising Demand for Bandwidth and Reliability
Fiber optic components market for AOCs expected to grow at the highest rate during the forecast period
The market for AOCs is expected to grow at the highest CAGR between 2018 and 2023. The cloud technology has developed rapidly with the beginning of the big-data age. To satisfy the demands of higher bandwidth and more applications in a variety of cloud computing environments, active optical cables (AOCs) have been developed.
Fiber optic components market for 100G expected to lead the fiber optic components market between 2018 and 2023
The fiber optic components market for 100G is expected to hold the largest share by 2023. The market for 100G data rate is growing as it offers high-speed, increased data rate, predefined user configuration, and complete automation capabilities.
For More Information – https://www.marketsandmarkets.com/Market-Reports/fiber-optic-component-market-63775446.html
Communications application expected to lead the fiber optic components market between 2018 and 2023
Among various applications, the communications application expected to account for the largest size of the overall fiber optic components market between 2018 and 2023. 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.
APAC expected to lead the fiber optic components market between 2018 and 2023
APAC is expected to hold the largest size of the fiber optic components market during the forecast period. The rising industrialization and infrastructural development in this region have offered enormous opportunities for the use of fiber optic components across various applications in APAC.
Finisar (US), Lumentum (US), Broadcom (US), Sumitomo Electric (Japan), and Accelink Technologies (China) are the leading players in the fiber optic components market.
Agreements, contracts, joint ventures, product launches and developments, acquisitions, and expansions are some of the key strategies adopted by the major players to gain a competitive edge in this market.
Finisar provides a broad portfolio of optical subsystems, which includes transmitters, receivers, transceivers, transponders, amplifiers, and active optical cables, mainly based on the Ethernet, Fiber channel, OTN, and SONET/SDH protocols. The company spends around 15% of its revenue in R&D activities in 2016. To grow in this market, it focuses mainly on the organic growth strategy of product launches. For instance, in September 2016, Finisar launched its CPRV422XA family of high-bandwidth OIF Micro-ICR Class 40 receivers. The CPRV422XA receiver enables the next-generation coherent transmission systems targeting single-wavelength applications with a speed of up to 600 Gbps.
Lumentum is a global technological firm that develops and manufactures optical communication products and industrial lasers. The company focuses on its optical communication segment, which accounts for the maximum share of its revenue. Lumentum follows technology leadership by working on collaborative innovations (with its customers), cost leadership, and functional integration strategies. The company aligns its latest technologies with the industry-leading technologies, along with skilled operations, to drive its optical communication segment to serve the growing needs such as increasing transmission speed and high-speed interconnects. To grow in fiber optic components market, it focuses on the organic growth strategy of product launches. For instance, in March 2016, Lumentum launched the 10Gbps tunable SFP+ optical transceiver. The newly developed transceiver would provide solutions for network-edge applications and can work at low power.
Other major companies operating in the fiber optic components market are Acacia Communications (US), EMCORE (US), Fujitsu Optical Components (Japan), Furukawa Electric (Japan), II-VI (US), NeoPhotonics (US), Oclaro (US), O-Net Technologies (China), Reflex Photonics (Canada), and Source Photonics (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.