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Fiber Optic Components Market worth $37.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
The market for transceivers accounted for the largest size in 2021. The increasing adoption of smart devices (such as smartphones, laptops, home assistants, IoT-based home security systems, and gaming consoles) and the rising data traffic are the key drivers for developing and using high-speed, coherent optical transceiver modules. Furthermore, various governments are taking initiatives to develop modular optical transceivers. Moreover, the introduction of 5G network and integration of artificial intelligence (AI) and Internet of Things (IoT) transformed the optical transceiver market significantly.
The market for communications is estimated to account for the largest share fiber optic components market, in 2021. The communications application is expected to lead the fiber optic components market by 2027. The deployment of high-speed communication networks and shift toward high-date rate and bandwidth-intensive networks such as 4G, LTE, and 5G create a requirement for optical communication and networking equipment to handle the growing burden of the telecom networks.
Fiber Optic Components
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In terms of value, North America led the fiber optic components market in 2021, accounting for the largest share of the overall fiber optic components market, by region. Factors such as the robust presence of major companies in the region; high demand for data communication; increased use of communication devices, such as smartphones, tablets, and VoIP equipment; as well as the growing market for wearable devices and increasing deployment of data centers drive the growth of the fiber optic components market in this region.
Key players in the fiber optic components market are II-VI Incorporated (US), Lumentum Holdings Inc. (US), Broadcom Inc. (US), Sumitomo Electric Industries ( Japan ), Accelink Technologies ( China ), Oclaro (US), Acacia Communications, Inc. (US), EMCORE Corporation (US), Fujitsu Optical Components ( Japan ), and Furukawa Electric ( Japan ). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, alliances, and collaborations to strengthen their position in the market.
Optical Transceiver Market
Optical Interconnect Market
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