The global [FURL=https://www.industryarc.com/Report/19303/fiber-optic-connector-market.html?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Fiber Optic/Optical Fiber Connector Market[/FURL] size is estimated to surpass $7.8 billion mark by 2026 growing at an estimated CAGR of more than 7.2% during the forecast period 2021 to 2026. This market technology is developed quickly, owing to comprehensive studies performed through thorough research and development by researchers and scientists around the world. The technology has proven to be a blessing across a wide range of applications and over time has increased the number of advances. The worldwide demand for the internet, coupled with the growing need for FTTx, is the major factor driving the growth of the fiber optics sector. Increasing demand for communication at high bandwidth through rising adoption of 5G and LTE technology is boosting market growth. For example, these systems are used with ease to transmit data, speech, and images that range from a few meters to a few km. Telecommunications and IT have a wide variety of uses as primary industries. The development of fiber-rich networks has increased the market for these cables tremendously. Lucent Connectors (LC Connectors) are set to remain the major type of Optical fiber connectors adopted in the market.Key Takeaways
Global internet internet demand, coupled with the growing need for FTTx and 5G/LTE network, is the major factor driving the growth of the Fiber Optic/Optical Fiber Connector Market.
Growing opportunities in the healthcare sector such as endoscopic imaging applications and applications for biomedical sensing are boosting the growth of Fiber Optic/Optical Fiber Connector Market, especially LC Connectors.
Advancement in technology has reached a point where the electronic devices are capable of communicating via the Internet, which is, the Internet of Things.
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Fiber Optic/Optical Fiber Connector Market Segment Analysis - By Geography
North America region dominated the global Fiber Optic/Optical Fiber Connector Market as of 2020 with a share of 35.5%. It is due to the presence of significant players namely Corning, Prysmian Group, AFL Telecom, Fitel and LS Cable and System. The U.S. accounted for a huge market base for Fiber Optic Cables due to the early adoption of fiber optic technology driven by a push from companies such as Google and Verizon.
Fiber Optic/Optical Fiber Connector Market Drivers
Increasing demand for internet
Adoption of Fiber for 5G Infrastructure
Optical Fiber Connector Market top 10 companies are Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Llc, Prysmian Spa, Infinera Corporation, Corning INC, Birla Furukawa Fibre Optics and others.
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