Fiber Management Systems Market Size is projected to reach $9.3 billion by 2031 | 3M, Belden

According to a new report published by Allied Market Research, titled, "Fiber Management Systems Market By Type and Application: Global Opportunity Analysis and Industry Forecast, 2022-2031", The fiber management systems market was valued at $3.4 billion in 2021, and is estimated to reach $9.3 billion by 2031, growing at a CAGR of 10.8% from 2022 to 2031.

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A fiber management system (FMS) is a system that controls optical fiber connections from the fiber rack to the fiber routers. It records system actions as well as features such as schematic designs, asset physical locations, mechanical/fusion splice points, and others. Its applications include creating and distributing cable capacity reports, calculating total cable lengths, recording fiber cable locations, splicing records, verifying the presence of black fiber cables, and diagnosing fiber breaks.

The rising demand for Internet of Things devices and digital signage in commercial areas is one important element influencing the development of the worldwide fiber management systems market trends. The increase in worldwide internet traffic is the factor driving the fiber management systems market growth. The need for high-bandwidth applications is increasing as more people use smartphones to access the internet. As a result, ultra-fast broadband services are being developed, which raises the demand for fiber management systems. In addition, the growing number of smartphone users is leading to a global increase in internet traffic. Therefore, managing congestion requires an enhanced network infrastructure, which can support high data speeds. All these factors are fostering the growth of the global fiber management systems industry.

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According to the fiber management systems market analysis, the fiber optic boxes segment was the highest contributor to the fiber management systems market size in 2021, whereas the power utilities and industrial automation segments collectively accounted around 38.3% share in fiber management systems market in 2021, owing to rise in industry 4.0 initiatives and digital infrastructure solutions. Among applications, the telecommunications segment was the highest revenue contributor in 2021.

The outbreak of COVID-19 has significantly impacted the growth of the fiber management systems market. The rise in demand for optical fiber management solutions across the prime sectors including the commercial and residential sectors has significantly propelled the demand for fiber management systems-based digital applications during the pandemic. However, the lack of availability of a professional maintenance workforce due to partial and complete lockdown implemented by the governments globally restrain the growth of the fiber management systems market during a pandemic. Moreover, the commercial and industrial sectors globally started to deploy fiber management systems-powered solutions, hence, expected to drive the growth of the fiber management systems market.

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Region-wise, Asia-Pacific holds a significant share of the global fiber management systems market. The adoption of industry 4.0 and digital infrastructure initiatives to boost the digital economy across developing countries such as India, South Korea, Japan, and others is propelling the fiber management systems market growth in this region. Moreover, the surge in demand for 5G network and Internet of Things solutions technologies across residential and commercial sectors in the Asia-Pacific region is anticipated to boost the growth of the fiber management systems market in this region.

Segmentation Analysis:
The fiber management system market is segmented on the basis of Type and Application and geography. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.

The fiber management system market is analyzed across the globe and highlight several factors that affect the performance of the market across the various region including North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

KEY FINDINGS OF THE STUDY
• In 2021, the fiber optic boxes segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 55.8% during the forecast period.
• The power utilities and industrial automation segments together accounted for around 38.3% of the fiber management systems market share in 2021.
• The power utilities segment is projected to grow at a CAGR of 10.2% during the forecast period.
• Asia-Pacific contributed the major share in the fiber management systems market, accounting for more than 10.6% share in 2021.

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The surge in demand for fiber management systems in industries such as telecommunication, healthcare, and others globally has led to the growth of the fiber management systems market. The key players profiled in the report include 3M, Belden Inc., BUD Industries, Eaton Corporation Plc (Tripp Lite), HUBER+SUHNER, Molex, Panduit, PHOENIX CONTACT, RockOm, Santron, and TE Connectivity Ltd. Market players have adopted various strategies such as product launches, collaborations, partnerships, joint ventures, and acquisitions to expand their foothold in the fiber management system market

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