In a recently published report, Kenneth Research has updated the market report for Fiber Optic Connectivity Market for 2021 till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan, and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fiber Optic Connectivity Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
The fiber optic connectivity is a communication exchange technology that transfers information through light or optical fiber. The fiber optic connectivity is used for high-speed transmission of data. The fiber optics systems enable long-distance transmission of signal with longer intervals of signal transmission. It has a larger bandwidth and is light in weight. The fiber optic connectivity also offers high security while transmitting the data. The fiber optic connectivity is used in various industries such as oil & gas, mining, electric substation, and wind power.
“The CAGR value Could change due to COVID-19 Pandemic”
The fiber optic connectivity is expected to an important role in the upcoming years. There is growing bandwidth and in long term communications services. The fiber optic connectivity is also applied in various data centers, telecommunication networks, and enterprise networks.
Market Size and Forecast
The market is witnessing vibrant growth on the account of the growing demand for energy-efficient solutions across the various industries coupled with the low cost associated with the data transfer. This is expected to boost the growth of fiber optic connectivity market during the forecast period. The growing technological advancement in the field of communication technology is also a major reason for the growth of the fiber optic connectivity market.
The fiber optic connectivity market is anticipated to record a CAGR of 11% over the forecast period. The market is witnessing robust growth and it is expected to attain a total market size of USD 14 billion by 2027. The market can be segmented on the basis of components and industry. on the basis of component, it is sub-segmented into hardware, software, and services.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
fiber optic connectivity
On the basis of services, it is sub-segmented into professional services and testing services. The hardware is expected to be the leading sub-segment during the forecast period. The high application of fiber optic in the hardware component such as connectors, cables, and assemblies is expected to be the major factor driving the growth of the sub-segment during the forecast period. For instance, according to the International Telecommunication Union, the total number of fixed-broadband subscriptions in 2017 was 1,005 million which increased to 1,075 million in 2018. The growing number of fixed-broadband subscriptions is expected to increase the application of fiber optic cables which in turn is expected to propel the growth of the overall market during the forecast period.
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On the basis of industry, it is sub-segmented into oil & gas, mining, electric substation, and wind power.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Growth Drivers
Increasing demand from various industrial sectors
The growing demand for fiber optics from various industrial sectors is expected to drive the overall fiber optic connectivity market during the forecast period. Additionally, fiber optic technology is used in submarines and aircraft. This is expected to drive the growth of fiber optic connectivity market during the forecast period. Moreover, the increasing demand from various industrial sectors is also supporting the fiber optic connectivity market over the forecast period.
Widespread Technological Advancement
The increasing technological development coupled with the rising number of the data center is increasing the demand for optic connectivity fibers. This is expected to fuel the market growth of fiber optic connectivity during the forecast period.
Restraints
Technical issues related to connectivity
The increasing technical issues related to the fiber optic connectivity market are expected to restrain the growth of the market during the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Download Sample of This Strategic Report- https://www.kennethresearch.com/sample-request-10076398
Leading Companies of Global Market:
Adtell Integration
Ciena Corporation
Huawei Technologies Co., Ltd.
ADVA Optical Networking
ADTRAN, Inc.
Corning Incorporated
Broadcom, Inc.
Cisco Systems, Inc
Finisar Corporation
Fiber Optic Services
HUBER+SUHNER AG
Fujitsu Optical Components Ltd.
Hamamatsu Photonics K.K.
Optiwave Systems, Inc.
Lumentum Operations LLC
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