Persistence Market Research predicts that the global fiber optic connectors market is expected to witness a CAGR of 11.0% from 2018 to 2028. In 2017, the market was worth $4,698.6 Million and is projected to rise to $14,491 Million by the end of 2028. Several manufacturers have initiated working on customizing their fiber optic connector products to meet the needs arising from the military, avionics, television broadcasting, and telecommunication industries. Nevertheless, the awareness and employment of fiber optic connectors in other areas is still taking a leap. There is an opportunity for manufacturers to design products in line with the market needs, which can aid in generating further revenue streams.
The deployment of 5G technology is anticipated to strengthen the demand for fiber optic connectors in the years ahead.
Some of the leading companies operating in the market are Siemens AG, Hitachi Information and Telecommunication Engineering, Ltd., Hitachi Ltd., 3M, Sumitomo Electric Industries, Ltd., Broadcom Inc., and TE Connectivity, among others.
Rising Number of End Devices Connected to an Individual Network to Pose a Threat to the Market
The growing need for connecting multiple end devices to a master network is proving to be a roadblock for telecommunication service providers. To address this issue and be prepared for such challenges, high investments are required and this makes it difficult for small telecom operators to cope up. For more details, request a sample report or get the full report now.
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