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Expansion of 5G Infrastructure across Various Regions to Boost Growth Opportunities in Fiber Optic Connectors Market, Notes Study by TMR
ALBANY, N.Y. , Sept. 2, 2021 /PRNewswire/ --
The fiber optic connectors market is expected to observe steady growth during the forecast period of 2020-2025. The use of fiber optic connectors across a large number of end-use industries will propel the growth of the global market.
Advantages of fiber optic connectors such as longer reach and high bandwidth connectivity are projected to have a profound impact on the growth structure of the market. Furthermore, the high preference in the telecommunication sector and data centers is anticipated to accelerate the growth prospects of the fiber optic connectors market.
Fiber optic connectors are flexible devices that are designed to connect two or more fiber cables. SN connectors, standard connectors, lucent connectors, MXC connectors, etc. are some types of fiber optic connectors considered in this study. The need for improved connectivity in both residential and commercial segments will present a wide range of growth opportunities for the fiber optic connectors market.
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The use of connected devices to collect real-time health data and provide treatment accordingly will propel their demand in the healthcare sector. Thus, the growing use of connected devices in the healthcare sector is expected to drive the fiber optic connectors market.
Transparency Market Research (TMR) has conducted a detailed analysis on diverse factors associated with the growth of the fiber optic connectors market. The experts at TMR expect the global market for fiber optic connectors to expand at a CAGR of 7.52% during the forecast period of 2020-2025. The fiber optic connectors market is expected to cross US$ 5.7 Bn by 2025.
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The advent of the 5G network will have a positive impact on the growth of the fiber optic connectors market. High Internet speed is required in various sectors. Many countries are also in the process of 5G network infrastructure implementation. Telecom leaders are relying on fiber optic cables to fulfill the extensive demand for 5G connectivity. All these factors are projected to fuel the growth of the fiber optic connectors market.
The COVID-19 pandemic has led to an increase in work-from-home (WFH) due to the stay-at-home orders enforced by numerous countries. This aspect has boosted the installation of home broadband connections. Furthermore, due to the evolving nature of the novel coronavirus and with more companies preferring remote work for longer periods, the demand for home broadband connections is increasing. Hence, the need for FTTH communication network is leading to exponential growth of the fiber optic connectors market.
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