Fiber Optic Connectors Market Expected to Reach $11.44 Billion by 2030

According to a recent report published by Allied Market Research, titled, “Fiber Optic Connectors Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global fiber optic connectors market size was valued at $4.87 billion in 2020, and is projected to reach $11.44 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.

A fiber optic connector joins optical fibers, and enables quicker connection and disconnection than splicing. The connectors mechanically couple and align the cores of fibers so light can pass. Better connectors lose very little light due to reflection or misalignment of the fibers. In all, about 100 different types of fiber optic connectors have been introduced to the market. Furthermore, the key factor that drives the growth of the fiber optic connectors market includes increasing demand for high bandwidth, greater safety concerns and wider applications of fiber optics connector is boosting the growth of the global fiber optic connectors. In addition, increased application of FTTH (Fiber to the Home) and increased adoption of mobile devices positively impacts the growth of the market. However, high investment cost, growing adoption of wireless broadband and other technologies and new infrastructure requirements hamper the market growth. On the contrary, increased investments by governments, diverse applications, and emerging economies is expected to offer remunerative opportunities for expansion of the fiber optic connectors industry during the forecast period.

Depending on type, the lucent connector segment garnered the largest share of the fiber optic connectors market, owing to its high bandwidth intensive applications. These connectors enable manufacturers and service providers to enhance their profitability, while reducing cost of operations. However, the subscriber connector (SC) segment is expected to grow at the highest rate during the forecast period, owing to need for high bandwidth by public and private sector, which has forced end users to move toward SC connectors for enhanced performance.

Region wise, the fiber optic connectors market was dominated by Asia-Pacific in 2020, and is expected to witness significant growth during the forecast period, owing to acceptance of fiber optics by the BFSI, aerospace, and defense industries, to provide high security while transmitting data. In addition, significant growth in investments across the telecommunication and information technology sector is observed as a measure to enhance market offerings and improve the network infrastructure of the region.

The COVID-19 pandemic has positive impacted the fiber optic connectors market size forced fiber optic connector professionals to change their priorities/activities and increase their workload. In addition, with the ongoing unprecedented global health crisis, consequences are being witnessed in all industrial sectors and economies globally. Presently, the ongoing shift to remote work drive the demand for networking infrastructure and connectivity. However, the demand could also strain the system and lead to public perception issues if reality does not meet expectations. Increasing cases of industry event cancellations means fewer business development opportunities via sponsorships and networking. Thus, cancelled domestic and global business travel results in a sharp increase in fiber optic connectors. In addition, many companies are adapting their working and operating, owing to solutions such as Microsoft Teams and other video conferencing and collaboration tools. Furthermore, companies have quickly updated and enhanced their offerings to meet today’s business needs. Showcasing fast innovation during this time should be a priority for those that can do so, and are promoting their role in supporting customers and end users during lockdown.  

Key Findings Of The Study

• By type, the lucent connector segment accounted for the largest fiber optic connectors market share in 2020.
• By region, Asia-Pacific generated highest revenue in 2020.
• By application, the telecom generated the highest revenue in 2020.

The key players profiled in the fiber optic connectors market analysis are 3M, Amphenol Corporation, Aptiv, Broadcom, Extron, Molex, OCC, Siemens AG, Shenzhen ADTEK Technology Co., Ltd., and T.E. Connectivity. These players have adopted various strategies to increase their market penetration and strengthen their position in the fiber optic connectors industry.