The most recent study conducted by Report Ocean, titled “Global Fiber Optic Components Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Fiber Optic Components. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Fiber Optic Components Market is valued approximately USD 20.65 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.9% over the forecast period 2022-2028.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Fiber optics component is a type of technology that is used to transfer information. These components include a variety of glass strings that are made up of glass cladding and glass core that offer a cost-effective option to the users. The growing internet penetration and data traffic, increasing deployment of data centers, coupled with the rising demand for bandwidth are the primary factors that are surging the market demand across the globe. For instance, as per Statista, there were approximately 4119 million internet users in 2019 worldwide, and the amount rises and reached around 4901 million users by 2021. Accordingly, the rising number of internet users is bolstering the demand for fiber optic components, thus, in turn, accelerating the market growth in the near future.
However, the threat to optical network security and high cost of installation, and the difficulty in installing in various terrains impede the growth of the market over the forecast period of 2022-2028. Also, increasing adoption of fiber optic components in the digital signage market and expansion of telecom infrastructure in developing economies are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Fiber Optic Components market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the region being the early adopter of novel technologies, and the growing presence of well-established market players such as II-VI Incorporated, Lumentum Holdings Inc., Broadcom Inc., and many others in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing penetration of the internet, the rising deployment of data centers, as well as surging demand for wearable, would create lucrative growth prospects for the Fiber Optic Components market across the Asia-Pacific region.
Major market players included in this report are:
II-VI Incorporated
Lumentum Holdings Inc.
Broadcom Inc.
Sumitomo Electric Industries Ltd.
Accelink Technologies Co. Ltd.
Oclaro Inc.
Acacia Communications, Inc.
EMCORE Corporation
Fujitsu Optical Components Limited
Furukawa Electric Co. Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Cables
Active Optical Cables
Amplifiers
Splitters
Connectors
Circulators
Transceivers
Others
By Data Rate
Less than 10Gbps
10 Gbps to 40Gbps
41 Gbps to 100Gbps
More than 100 Gbps
By Application
Distributed Sensing
Analytical and Medical Equipment
Lighting
Communications
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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