Press release
Global Fiber Optic Connectors Market Scenario Reveals Impressive Growth Driven by Growing Demand from Telecommunication Industry
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Fiber optic connectors have massive potential to be merged into a wide range of applications in the healthcare, railway, defense & aerospace, and oil & gas sectors. It has been witnessed in the past few years that fiber connectors hold a noteworthy part of the complete broadcasting and television setup. In order to fulfill the growing needs of fiber optic components in the global television broadcasting industry, manufacturers are focusing on accelerating the research and development activities and innovation related to fiber optics and other components. As per the analysts’ key evaluations, the global fiber optic connectors market is expected to witness a CAGR of 11.0% from 2018 to 2028. In 2017, the market was worth US$ 4,698.6 Mn and is projected to rise to a valuation of US$ 14,491.0 Mn by the end of 2028.
Moving further, the study finds that the deployment of 5G technology is anticipated to intensify the demand for fiber optic connectors. This is because, the advancement in the telecommunication sector has put extreme pressure on 5G technology to deliver high-performance capacity, low latency and high data rates. In this scenario, fiber optic connectors play a vital role. The launch of new satellites and antennas by private companies is also being discovered in order to fulfill this growing need.
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In a bid to offer readers detailed insights, the business intelligence study has segmented the fiber optic connectors market landscape on the basis of type, application and region. The detailed market segmentation can help the readers in gaining credible and unbiased insights on the particular market. By type, the study covers Lucent Connectors (LC), Subscriber Connectors (SC), Mechanical Transfer Registered Jacks (MTRJ), Ferrule Connectors (FC), MPO Connectors and Straight Tip (ST) Connectors. On the basis of application, the analysts find that the telecommunication sector industry will continue its lead in the global market until the end of 2028.
At last, the concluding section of the report deals with the company market share analysis of key players operating in this industry. Hitachi Information, Siemens AG, and Telecommunication Engineering, Ltd., Hitachi Ltd., 3M, Broadcom Inc., Sumitomo Electric Industries, Ltd., and TE Connectivity, among others are major companies profiled in this study.
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