The Asia Pacific Fiber Optic Components Market would witness market growth of 8.5% CAGR during the forecast period (2021-2027).
Communication applications are expanding at a rapid pace with each having characteristics that need enhanced speed and bandwidth. Some examples of advanced technologies include FTTH and FTTB. Amazon Prime & Netflix need a minimum speed of 20 to 25 Mb per second to enable delivering full HD quality video by the use of these streaming platforms. Network designs such as FFTB and FTTH are essential for internet connectivity to provide high bandwidth for video technologies which would support the market growth. Video, audio and media content offered through the internet without the requirement of subscription to cable pay-tv services or convectional satellite is known as OTT. Also, OTT is following the same strategies as the video technologies in terms of growth. With the continued increase in smart devices, the new generation of high bandwidth applications will essentially require higher & quicker bandwidth connection which includes FFTN, FTTH, and FTTC that employ optical fiber cables to transmit data.
Rising industrialization coupled with the infrastructural advancements in the area has served as an opportunity to deploy fiber optics for different applications in the Asia Pacific region. Furthermore, the rising use of fiber optics in the healthcare industry may support the growth across the countries like India, China and Japan. Major factors responsible for the growing demand for fiber optic components in the Asia Pacific region are the availability of sustainable growth opportunities supported by the rising number of broadband subscribers in the region.
In addition, as per the geographical analysis by Internet World Stats, in May 2020, 37.1% of internet users in Asia were present in China and 24.3% were in India. According to the World Bank stats in 2020, Southeast Asia had the highest internet penetration where 66% of the total population of Southeast Asia used the internet.
The China market dominated the Asia Pacific Fiber Optic Components Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,836.9 million by 2027. The Japan market is anticipated to grow at a CAGR of 7.8% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 9.1% during (2021 - 2027).
Based on Component, the market is segmented into Transceivers, Cables, Active Optical Cables, Connectors, Amplifiers, Splitters & Circulators and Others. Based on Application, the market is segmented into Communications, Distributed Sensing, Lighting and Analytical & Medical Equipment. Based on Communications Type, the market is segmented into Telecommunications, Data Centers and Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Fiber Optic Components Market is Projected to reach USD 36.3 Billion by 2027, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., II-VI Incorporated, Amphenol Corporation, Fujitsu Limited (Fujitsu Optical Components Limited), Broadcom, Inc., Lumentum Holdings, Inc., TE Connectivity Ltd., EMCORE Corporation, and Accelink Technology Co. Ltd.
By Component
By Application
By Country
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