The global fiber optic components market is expected to grow from USD 24.5 billion in 2022 to USD 37.5 billion by 2027; it is expected to grow at a CAGR of 8.9% during 2022–2027. Key factors fueling this markets growth include increasing deployment of data centers; growing internet penetration and data traffic; and rising demand for bandwidth. Increase in adoption of fiber optic components in digital signage market; rise in demand for fiber optics due to reliability; and expansion of telecommunication infrastructure in developing economies create a strong demand for fiber optic components for efficient operations in the midst of COVID-19.
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.
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Top 2 players in the fiber optic components market:
II-VI Incorporated (US): II-VI (US) held a share of ~7% of the fiber optic components market in 2021. II-VI operates through two main segments: Photonic Solutions and Compound Semiconductors. With the broadest product portfolio in the industry, II-VI helps customers leverage the power and speed of optical communications. For over three decades, it has been providing components and subsystems to networking equipment manufacturers, data center operators, and telecommunications service providers. The company is also focused on strategic acquisitions to expand its product portfolio, gain access to new technologies, and enter new markets. Moreover, it focuses on R&D of products and services through its development laboratories and testing facilities.
Lumentum Holdings Inc. (US): Lumentum Holdings Inc (US) held the second position in the global fiber optic components market in 2021. The company is one of the leading providers of optical and photonic products addressing a range of end-market applications, including Optical Communications (OpComms) and Commercial Lasers (Lasers) for manufacturing, inspection, and life science applications. The company operates through two segments, namely, OpComms and Lasers. The OpComms segment is further divided into Telecommunication & Data Communication and Consumer & Industrial. The company has a global marketing and sales footprint that enables the company to address global market opportunities for products.
Fiber Optic Components Market with Covid-19 impact by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region - Global Forecast to 2027
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