The global fiber optic connectors market is rising at a 7.4% CAGR from 2015 to 2021 and is expected to undergo growth of more than 62% upon its 2014 value of US$2.72 billion. The market would be worth US$4.43 billion if these estimations hold true, report says.
The new report from U.S. based market analysis firm Transparency Market Research, titled “Fiber Optic Connectors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021”, presents detailed historical data regarding the global optical fiber connectors market and makes studied forecasts that will help industry leaders make beneficial decisions regarding their next step in the market.
Fiber optic connectors are used to connect two optical fibers in a cost- and power-efficient way. This enables smooth transfer of high bandwidth. Demand for the latter has been steadily growing in sectors such as the IT and telecommunications industry as well as in medical, aerospace, and defense sectors. Demand for high bandwidth is expected to further grow in the years to come, directly aiding the global optical fiber connectors market. The telecom industry is accordingly the largest application sector of the global fiber optic connectors market.
Demand for optical fiber connectors from governments is particularly high in developing economies such as China, India, and Brazil. Enhancing the networking between government agencies is a growing need in these countries, leading to high demand from the global optical fiber connectors market.
