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Asia Pacific dominated the fiber optic components market in 2019 with a share of 35.8% followed by North America.

NEW YORK, UNITED STATES, March 31, 2022 /EINPresswire.com/ -- According to the new research report published by The Insight Partners, titled “Fiber Optic Components Market to 2027 – COVID-19 Impact, and Global Analysis and Forecast – by Type, Data Rate, Application, and Geography,” the market was valued at US$ 16,546.7 million in 2019 and is projected to reach US$ 39,150.3 million by 2027; it is expected to grow at a CAGR of 11.3% from 2020 to 2027. 

Strategic Insights             

Report Coverage              Details

Market Size Value in       US$ 16,546.7 Million in 2019

Market Size Value by     US$ 39,150.3 Million by 2027

Growth rate       CAGR of 11.3% from 2020-2027

Forecast Period 2020- 2027

Base Year            2020

No. of Pages      177

No. Tables           83

No. of Charts & Figures 87

Historical data available Yes

Segments covered          Type; Data Rate; Application

Regional scope  North America; Europe; Asia Pacific; Latin America; MEA

Country scope   US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage              Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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In 2019, North America stood second in the Fiber Optic Components market with a decent market share, and it is anticipated to witness a steady CAGR from 2020 to 2027. The north American region comprises significant countries, such as the US, Canada, and Mexico. Technological advancements have led to highly competitive markets across North America, with the US being a developed country in terms of acceptance of modern technology electronic components. The region hosts several technological giants that invest significant amounts in the development of robust technologies. With the growing demand for better quality and efficiency of electronic devices among North Americans, the OEMs focus on the development of advanced technological components. The fiber optic components market is anticipated to grow further in the region owing to growing industrialization and infrastructural development. The government focuses on investing in telecommunication infrastructure since it spurs economic growth and creates employment.

According to the latest situation report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the world. The COVID-19 crisis is affecting industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and 2021. 

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The Asia Pacific dominated the fiber optic components market in 2019 with a share of 35.8% followed by North America. The fiber optic components market in APAC is analyzed based on historical, current, and future trends across the region. The fiber optic components market in APAC is further segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. The adoption of fiber optics is high in this region owing to development in communications applications; thus, the fiber connectivity in this region is likely to surge. In March 2018, the consortium of APAC network operators signed a contract with NEC Corporation, a Japan-based company to design a submarine cable (SJC2), which connects Japan, Thailand, Singapore, Hong Kong, Cambodia, Vietnam, Taiwan, China, and Korea. Several companies contributed to the SJC2 cable, such as Chuan Wei, China Mobile International, Chunghwa Telecom, Singtel, KDDI, SK Broadband, VNPT, and Facebook. 

Rising Data Centers

The deployment of the data centers has witnessed a significant rise owing to the increasing adoption of digital technologies by organizations for various business operations across the world in recent years. The data centers act as a digital infrastructure to streamline and manage various digital operations and act as a centralized platform to store and backup data. The data center requires various optical fiber components such as cables, amplifiers, splitters, connectors, circulators, and transceivers, which require periodic retrofitting. 

Fiber Optic Components Market: Competitive Landscape and Key Developments

Accelink Technology Co. Ltd., Broadcom, Inc., EMCORE Corporation, Fujitsu Limited, Furukawa Electric Co. Ltd., II-VI Incorporated, Lumentum Operations LLC, O-Net Technologies (Group) Limited, Reflex Photonics Inc., and Sumitomo Electric Industries, Ltd. are among the key players in the global Fiber Optic Components market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2020, Fujitsu Optical Components Limited (FOC) introduced compact and low power consumption 400Gbps ZR transceivers. These transceivers are compliant with the Optical Internetworking Forum (OIF) Implementation Agreement 400ZR for cloud data center interconnects (DCI) of up to 120km transmission.

In 2019, Lucent Technologies announced that it has completed the sale of its Atlanta-based Optical Fiber Solutions (OFS) business to Tokyo's Furukawa Electric Co. Ltd. Lucent will receive US$2.3 billion from Furukawa for the major portion of the business, US$225 million less than originally agreed.

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