The major players in the global fiber optic component market are Finisar, Oclaro, Accelink Technologies, Lumentum, Acacia Communications, Emcore, Sumitomo Electric, Fujitsu Optical Components, Neophotonics, Reflex Photonics Furukawa Electric, and O-Net Technologies among others. These companies are investing considerably in R&D so as to incorporate new technologies in their systems and develop new products to increase market share in the global fiber optic component market.
Fiber optics is the technology or medium used for the transmission of data in the form of light pulses through transparent fibers such as glass or plastic strand. The components that form the fiber optic networking system are called fiber optic components. Fiber optic components are becoming the core of the telecommunication industry and advancements in cabling technology has resulted in the significant growth of fiber optic components. Typical fiber optic components include coupler/splitters, transceivers, filter, isolator, WDM multiplexer, optical circulator, amplifier, and various other functional modules.
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The main drivers of growth of the fiber optic component market include rapid increase in deployment of data centers. This is majorly due to the increasing demand for cloud based solutions within enterprises mainly to drive down costs related to IT infrastructure, reduce carbon footprint, and reduce the cost and time related to IT support and maintenance. Also, growing internet penetration, increased data traffic, and rising demand for bandwidth and reliability is also expected to boost the overall global fiber optic component market during the forecast period.
The advent of smart cities and the increasing adoption of internet of things especially in industries such as manufacturing, utilities, retail, automotive and many more is expected to help in the growth of the fiber optic component market. Fiber optic components tend to be prone to physical damage and transmission losses, acting as one of the major restraints affecting the growth of the fiber optic component market globally. However increasing deployment of VOIP, LTE, and advancements in 5G network are creating huge opportunities in the fiber optic component market.
The global fiber optic component market can be categorized on the basis of component, type, data rate, application, and region. In the global fiber optic component market, the component segment can be classified into cables, active optical cables, directional couplers, amplifiers, splitters, polarization controllers, circulators, connectors, transceivers, and others. On the basis of type, the global fiber optic component market can be categorized into active and passive. In terms of data rate, the fiber optic component market can be categorized into 10G, 40G, 100G, and above 100G. On the basis of application, the fiber optic component market can be categorized into distributed sensing, analytical and medical equipment, lighting, telecommunications, data centers, and enterprise. Based on geography, the global fiber optic component market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The growth in demand for fiber optic components in Asia Pacific and South America is mainly driven by the huge growth opportunities available, supported by the growing number of fixed broadband subscribers in the regions. Also, increasing demand for larger bandwidth for faster network connectivity and massive untapped opportunities offered by the huge population base especially in Asia Pacific is further fuelling the growth of the fiber optic component market. Many governments are investing in high speed networks and are quickly transitioning from traditional networks to high speed FTTH (Fiber to the home) networks. Thus, liberalization of regulatory systems and support from governments for digitization push is poised to benefit the fiber optic component market growth.