According to a recent report conducted by FMI, the Fiber Optic Connectivity Market would reach US$ 7.0 billion by 2032, up from US$ 2.8 billion in 2022, with a CAGR of 9.6%. The demand for fiber optic technology in numerous industrial sectors, as well as submarines and aircraft, has an impact on market growth, according to this report.
Furthermore, the market is likely to grow during the forecast period because of the growing need for energy-efficient solutions in various sectors around the world. Furthermore, demand for fiber optic technology in various industrial sectors, as well as submarines and aircraft, influences the market growth.
Furthermore, the low cost of data transfer is expected to propel the fiber optic connectivity industry forward. Furthermore, technical improvements in the realm of communication technology are likely to open up a slew of new opportunities, boosting the fiber optic connectivity market’s growth over the forecast period. Another key aspect projected to encourage the growth of the Fiber Optic Connectivity market is the long-distance transmission with less security risk.
The Market Study’s Most Important Findings
- By the end of 2022, the global fiber optic connectivity market was worth US$ 2.8 billion.
- In 2032, the United States will account for the biggest value share of the global market demand for Fiber Optic Connectivity, with a value share of US$ 1 billion.
- Fiber Optic Connectivity demand grew at a CAGR of 10.1 percent from 2015 to 2021.
- Hardware accounts for the majority of Fiber Optic Connectivity by component, with a CAGR of 9.4%.
Players in the global Fiber Optic Connectivity Market use a variety of techniques to develop their global reach, including alliances, collaborations, and partnerships. The businesses are also investing heavily in R&D to include new features in their goods, which will help them enhance their position in the worldwide market. The following are some of the most recent developments among the important players:
- Adtell Integration
- Adtran Inc.
- Cisco Systems Inc.
- Corning Incorporated
- Fiber Optic Services (FOS)
- Finisar Corporation