Global Fiber Optic Components Market to 2027 - Size, Share & Industry Trends Analysis Report - ResearchAndMarkets.com | Business Wire

2022-05-21 20:54:20 By : Ms. Lily Lee

DUBLIN--(BUSINESS WIRE )--The "Global Fiber Optic Components Market By Component, By Application, By Communications Type, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Fiber Optic Components Market size is expected to reach $36.3 billion by 2027, rising at a market growth of 8.1% CAGR during the forecast period.

Fiber optic components are an integral part of fiber optic infrastructure used to meet the rising demand for fiber optic communication across various countries and continents. The fiber optic communication market is majorly divided into fiber optic components & fiber optic cables. The fiber optic cables use light as a medium of transferring information from one place to another. These are used in fiber optic communication to transmit these signals to long distances. These support higher bandwidth in comparison to copper cables. Due to this, they are the perfect choice for the new generation technologies like 4G & 5G.

According to the various studies conducted by scientists and researchers across the world, continuously developing technology is one of the innovations of the present day. Technology has been helpful for a large number of applications & advancements in technology are taking place continuously. Rising demand for high bandwidth communication is the main factor accelerating the market growth. IT and Telecommunication are the main sectors for a broad variety of applications. The advancements of fiber-rich infrastructure have appreciably increased the demand for these cables.

Fiber optic technology is being adopted by the whole world because of the inbuilt advantages of conventionally used copper. Glass optical fiber includes high flexible strength in comparison to other mediums. Also, the fiber is lighter & smaller as compared to the copper which makes it easier to handle along with less space requirements. Field termination, testing, and splicing of fiber optic cables & connectors is comparatively easier. Fiber optic technology is used in various applications including computer links, video transmissions, telecommunications, medical, scientific areas, select industrial and defense.

The internet plays a crucial role for connected devices. Fiber optic is considered as the backbone of the internet as the optical fiber cables are utilized as a medium to transmit the information from one point to another. As per the record of the International Telecommunication Union (ITU), in 2018, 51.2% of the total population in the world was using the internet and the growth rate in the same year was 45%. The increasing importance of cloud computing, data storage & transfer and the Internet of Things are surging the use of the internet.

The International Energy Agency (IEA) estimates that the number of people using the internet will reach up to 5.0 billion by 2025 from 3.6 billion in 2018. In addition, the number of IoT connections is likely to increase to 25.0 billion by 2025 from 7.5 billion in 2018. The rise in the number of connected devices is expected to result in higher demand for higher bandwidth which further will result in the growth of IoT.

The development of telecommunication infrastructure in the emerging economies is expected to have a positive impact on market growth. The demand for smart devices & other related applications has been increased due to the arrival of artificial intelligence, big data and the internet of things. The interconnected technologies play a crucial role in transferring, capturing, & translating data into meaningful information across the telecommunication sector that is important for reinforcing urban infrastructure. The high-speed fiber optic network is the backbone for such kind of infrastructural development that can transfer a large amount of data with a high speed from one point to another.

Threat to optical network security

Optical networks are at a high risk to various types of security attacks or breaches that are aimed to create disruptions in services and get unauthorized access to carried data that is also called eavesdropping. Fiber optic communication and storage systems are considered safer than conventional copper cable-based systems because hacking into data stored at a fiber optic based system needs highly advanced technology that is available only at the government agencies. But from the past few years inexpensive hardware & software are available in the market.

Market Segments Covered in the Report:

For more information about this report visit https://www.researchandmarkets.com/r/pjeq2b

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900