Fiber optic connectors exhibit a rapid adoption in enterprises as they enhance the network structure and increase the efficiency of operations. Fiber optic connectors offer greater bandwidth, enhanced reliability and agility, and improved security.
The increasing adoption of smartphones and other devices has resulted in a huge demand for high-speed data services, a key factor that accelerates the growth of fiber optic connectors, the research said.
The increasing fiber-to-the-premises, fiber-to-the-home and fiber-to-the-building applications for improved high bandwidth services also supplement the growth of fiber optic connectors market. Key players in the market are increasingly developing high quality, affordable, compact and energy efficient connectors to cater the growing demands of the customers.
Fiber optic connectors are primarily used in the telecommunication sector. However, with the increasing need of high bandwidth services, applications such as high density networks, inter/intra building, security systems, and community antenna television also exhibit a large adoption of fiber optic connectors. The telecommunication application of fiber optic connectors is forecast to grow at a CAGR of 8.3 percent during 2015-2020.
Fiber optic connectors are increasingly being used in the security sector. The rising need of data security in the defense and aerospace sector has boosted the growth of this market. There is a huge demand for fiber optics connectors in the security sector for inherent security, huge bandwidth capabilities and protection against interference. The application of fiber optic connectors in security systems is forecast to register a CAGR of 12.4 percent during 2015-2020 and is expected to provide potential growth opportunities for players in this market.
Lucent fiber optic connectors are deployed in high-density connections, local area networks, telecommunication networks, community antenna television (CATV), data processing networks, fiber-to-the-home (FTTH), and fiber-to-the-premises (FTTP) distribution. Lucent fiber optic connectors held the maximum percentage share in the global fiber optic connectors market in 2014, followed by the segment of subscriber connectors accounting for a share of 29.2 percent of the global market in 2014.
In the coming years, lucent connectors, subscriber connectors, and Multi-Fiber Termination Push On/Pull Off (MTP) connectors would further increase the market penetration owing to their wide application areas.
The high initial investment associated with the fiber optic connectors, limits its market growth. Also, fiber optic connectors face a threat from emerging wireless broadband technologies. Numerous governments are heavily investing in the replacement of coaxial cables with fiber optic cables across all public communication networks. Several initiatives are taken by governments across the world to improve the network infrastructure in their countries, thereby increasing the connectivity within the region and subsequently enhancing the business opportunities.
Source: Allied Market Research
