The global fiber optic connectors market grew from $4.87 billion in 2022 to $5.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fiber optic connectors market is expected to grow to $6.73 billion in 2027 at a CAGR of 6.5%.
The fibre optics market consists of sales of step index-single mode fibre, graded index-single mode fibre, step index-multimode fibre, and graded index-multimode fibre.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Fiber optic connectors refer tohigh-speed connectors that are used for public telecommunication networks and wiring installations.A fiber optic connector is a flexible device that can connect and disconnect fiber optic cable quickly.
Optical fibres combine two fibre connections without splicing or terminate fiber-optic connections to fibre equipment.
The Asia-Pacific was the largest region in the fiber optic connectors market in 2022. The regions covered in the fiber optic connectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The fiber optic connectors market covered in this report is segmented by product into SC (standard connectors), LC (lucent connectors), FC (ferrule connector), ST (straight tip), MTP/MPO (multiple-fiber push-on/pull-off), MXC connector, others. It is also segmented by cable into simplex, duplex, multi-fiber and by application into telecommunication, inter/intra building, community antenna television, data center, high-density interconnection, security systems, and others.
The number of people using smart devices and smartphones and the commercialization of 4G LTE and 5G network platforms is rapidly increasing, which will drive the growth of the global fiber optic connectors market. For instance, in January 2020, the numbers of smartphone users in the world were 3.50 billion, accounting for 45.12% of the world’s populationAccording to the International Telecommunication Union 2020, a Switzerland-based agency that works in information and communication technologies, approximately 90% of the population has access to a mobile-broadband network (3G or above) in 2020. Additionally, for instance, in 2021, Telefonaktiebolaget LM Ericsson, a Sweden-based multinational networking and telecommunications company, the share of 4G subscriptions reached 68% in the region (India, Nepal, and Bhutan) 2021. Smart devices are everyday gadgets, which are made intelligent with advanced computing, including AI and machine learning, and networked to form the internet of things (IoT) that require the internet. The increased use of smart devices and commercialization of 4G LTE and 5G network platforms increased the demand for the fiber optic connectors market.
The high installation costs of fiber optic connectors have always been a major challenge in the fiber optic connectors market.The factors impacting fiber-optic internet installation prices are sufficient to power, service provider companies, telecommunication closet space.
For instance, the installation cost of fiber optic cable installation would be $15,000 to $30,000 for a house with 100 to 200 drops. The high costs for the installation of fiber optic connectors are limiting the growth of the fiber optic connectors market.
The innovation of 180-micron fiber cable is shaping the fiber optic connectors market.In April 2020, Prysmian Group announced the world’s first 180µm fiber cable for FTTx and 5G networks.
Prysmian combines the two technologies to start its sirocco extreme microduct cable with 288 fibers in a diameter of 6.5mm, providing diameter and fiber density for a blown microduct cable of 288 fibers. With a fiber thickness of 8.7 fibers per mm2, it is possible to install the cable into an 8mm ID duct where before it was only possible to install up to 192 fibers. This makes it feasible to install more fibers into full duct space and allows the use of smaller ducts for new installations, rising in cheaper installation costs and the use of less raw materials.
In December 2020, Molex, a US-based connectivity and electronics solutions provider acquired Fiberguide Industries for an undisclosed amount.Through this acquisition, Molex aims to extend optical fibersolutions.
Fiberguide Industries is a US-based provider of specialty optical fiber and fluidic-based products. Major players in the fiber optic connectors market are 3M, Corning Cable Systems LLC, Hitachi Ltd., ZTE Corporation, Amphenol Corporation, Alcatel-Lucent S.A., Broadcom Limited, Hirose Electric Co. Ltd., Furukawa Electric Co. Ltd., and Sumitomo Electric Industries.
The countries covered in the fiber optic connectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fiber optic connectors market research report is one of a series of new reports that provides fiber optic connectors market statistics, including fiber optic connectors industry global market size, regional shares, competitors with a fiber optic connectors market share, detailed fiber optic connectors market segments, market trends and opportunities, and any further data you may need to thrive in the fiber optic connectors industry. This fiber optic connectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.