Fiber Optic Component Market 2021-2025 Global Outlook- Lumentum Operations LLC, II-VI Incorporated, Broadcom Corporation

The report is designed to provide a holistic view of the Fiber Optic Component Market 2021-2025. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; revenue, demands, and supply data (as applicable). High-level interpretation of Fiber Optic Component Market attributes using proprietary tools such as the Penetration Mapping Index, and other successful representational tools such as Porter’s Five Forces Analysis, SWOT, PESTEL, Ansoff’s Matrix, etc. Regional estimates and forecasts & trend analysis for each country and region are also available in the study. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Fiber Optic Component Market investments from 2021 till 2025.

The Fiber Optic Component Market is expected to grow at a CAGR of 10.7% over the forecast period 2020 to 2025.

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The Fiber Optic Component Market is highly competitive and is moderately fragmented that consists of significant individual players such as Lumentum Operations LLC, II-VI Incorporated, Broadcom Corporation, Sumitomo Electric Industries, Ltd., and Accelink Technologies Corporation.

Key Market Trends:
Fiber Optic Cables to Dominate the Market

- As the internet continues to expand at an exponential rate, so does the demand for increased bandwidth. The global demand for higher internet bandwidth is presenting lucrative opportunities for the fiber optic cable vendors, encouraging the market growth, as, according to Equinix, by 2020, the total global interconnection bandwidth is projected to increase from 1,144 terabits per second in 2016 to 4,991 terabits per second by 2020.
- According to ITU in 2019, the number of internet users worldwide was 4.13 billion, up from 3.92 billion in the previous year. A vast amount of information is conveyed across the internet each day, with information forms such as multimedia and video on the rise. The result is a need for a communication infrastructure such as fiber optic cables that can handle vast quantities of data and deliver this effectively on a global scale.
- The use of light within fiber optic cables offers several security benefits compared to a traditional copper cable. This is why they are increasingly favored in today’s world, as there is a greater focus than ever before on protecting sensitive data.
- As a survey by NortonLifeLock Inc. says that over 90% of global online users had at least one significant concern about data privacy, 47% of respondents were worried about their personal information, and an additional 40% of worldwide respondents stated discomfort about sensitive personal information being sold to third parties.
- Fiber optic cables are essential within a 5G network infrastructure. To achieve a real 5G revolution, fiber optic cables are essential. 5G is based on a small cell model that brings connectivity closer to the end-user. This short cell model requires a crucial fiber optic cable backbone to deliver a cohesive internet experience.
- According to GSMA, the number of 5G connections is projected to grow to 1.1 billion by 2025 globally, and as per the same source, 5G connections will account for around 50% of total mobile connections in developed Asia in 2025. Ericsson stats say that in 2020 the number of 5G mobile subscriptions is forecast to rise to around 18 million in North America. Recognizing all these growth and advancements in 5G connections and its network infrastructure, the market for fiber optic cables is expected to boost.
- As fiber optic technology has advanced, several use cases have been identified across various industries. The medical industry has traditionally utilized fiber optics for illumination, image transfer, and laser signal delivery. In the Aerospace sector, fiber optics are increasingly looked to as the solution for increasing commercial flights' connectivity.

APAC to Drive the Market

- APAC is foreseen to accommodate the largest size of the fiber optic components market during the forecast period. The growing industrialization and infrastructural advancement in this area have given immense opportunities to apply fiber optic components in multiple applications in APAC. Additionally, the increasing use of fiber optics in the medical sector presents growth across countries, such as China, Japan, and India. This is propelling the overall demand at a significant rate.
- Additionally, the growth in demand for fiber optic components in the Asia Pacific is mainly driven by the substantial growth opportunities available, supported by the growing number of fixed broadband subscribers in the regions. Also, increasing demand for larger bandwidth for faster network connectivity and massive untapped opportunities offered by the vast population base in the Asia Pacific is further fuelling the fiber optic component market.
- According to Internet World Stats, geographic analysis of the audience found that China accounted for 37.1% of internet users in Asia as of May 2020, followed by India with 24.3%. China's internet penetration reached 58.4% in that year. Moreover, as per World Bank stats, in 2020, Southeast Asia was the region throughout the Asia Pacific, which had the highest internet penetration, in which 66% of the total Southeast Asian population used the internet. In comparison, internet penetration in South Asia was 48% in 2020.
- Many governments of developed nations, like China and Japan, are investing in high-speed networks and are quickly transitioning from traditional networks to high-speed FTTH (Fiber to the home) networks. Thus, the liberalization of regulatory systems and support from governments for digitization push is poised to benefit the fiber optic component market growth.
- Additionally, the consistent increase in the use of smartphones and internet facilities in the region adds to the adoption of optical fiber components for telecommunication applications. Also, 5G connections (excluding IoT) are anticipated to reach USD 670 million in Asia-Pacific by 2025, accounting for approximately about 60% of the global 5G connections, according to GSMA.

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Regions are covered By Fiber Optic Component Market Report 2021 to 2025.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia and, Italy).
Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).

The Total Addressable Market (TAM) For estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of in the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.

Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Fiber Optic Component Market
-Changing the Fiber Optic Component Market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Fiber Optic Component Market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Fiber Optic Component Market.
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.

Frequently Asked Questions about Fiber Optic Component Market:
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The report has 150 tables and figures browse the report description and TOC
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