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Fiber Optic Connector In Telecom Sector Market Report
Fiber Optic Connector in Telecom Sector Market Trends, Dynamics & Market Insights
The Fiber Optic Connector in Telecom Sector Market is estimated to grow from USD 1.8 billion in 2020 to USD 3.9 billion by 2026 at a healthy CAGR of 13.8% during the forecast period.
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Fiber optic connectors are widely used for mating fiber optic cables with minimal loss of light. They are primarily used for mechanical coupling as well as for aligning core fibers to allow effective transfer of light while offering high reliability, low insertion loss, and high return loss. The growing usage of fiber optic connectors in the telecom sector for a household is a key growth driver.
Key players operating in the fiber optic connector in telecom sector market are-
The rising need for high internet speed and better connectivity requires strong and efficient cable connectivity which is fulfilled by optic fiber technology, this is a key factor boosting the product demand. These connectors are helpful in the protection of optic fiber which augments the market growth in the coming years. The Telecom sector is significantly growing due to the recent launch of 5G communication. This is mainly due to the radical shift of the population towards digital platforms, online services, and internet services, thus offering immense growth opportunities to the industry players.
Based on product, the fiber optic connector in the telecom sector market is classified into subscriber connector, ferrule connector, lucent connector, multi-fiber push on, e2000 connector, straight tip connector, and others. The lucent (LC) connector segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. LC connector can be quickly converted from a simplex connector to a duplex connector with the use of a clip. These connectors are low-loss connectors and are also pull-a-proof. Also, LC connectors can quickly be terminated and have a couple of different methods to achieve that, thereby bolstering the segment growth.
By region, the North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly attributed to the strong presence of data centers and other enterprises requiring high-speed data services for high performance in the region. Also, the U.S. is the early adopter of fiber optic connectors in the telecom industry which allows dominance in the connector market for the North American region, which further proliferates the regional market growth.
The COVID-19 outbreak has moderately affected the fiber optic connector in the telecom sector industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic affected the communication infrastructure and the telecommunication sector, thus affecting every stakeholder in the supply chain.
Here is the list of the group of customers that the fiber optic connector in telecom sector market hopes to have the greatest opportunity to convert-
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The fiber optic connector in telecom sector market size is expected to reach USD 3.9 billion in the coming years.
Thorlabs (US), Tianyi (China), ZTE Corporation (China), Neutrik (Liechtenstein), Sterlite Optical Technologies Limited (India), Delphi (Ireland), Qingdao Applied Photonic Technical Co.Ltd (Chi-na), L-com (US), 3M (US), and HUBER + SUHNER (Switzerland) are among the key players in the fiber optic connector in telecom sector market.
The fiber optic connector in telecom sector market is expected to witness an impressive growth of 13.8% CAGR in the foreseeable future.
Lucent (LC) connector segment is expected to register healthy CAGR in the fiber optic connector in telecom sector market in the coming years.
North America is expected to grow at substantial CAGR in the fiber optic connector in telecom sector market during the next five years.
Fiber optic connector in telecom sector vendors, Fiber optic connector in telecom sector retailers, Telecommunication companies, Internet provider companies are the target audience in the fiber optic connector in telecom sector market.
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