The report titled “Fiber Optic Connectivity Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global fiber optic connectivity market in terms of market segmentation by component, by industryand by region.
The market can be segmented on the basis of component and industry. On the basis of component, it is sub-segmented into hardware, software and services. On the basis of services, it is sub-segmented into professional services and testing services. The hardware sub-segment is expected to be the leading segment during the forecast period. On the basis of industry, it is sub-segmented into oil & gas, mining, electric substation and wind power.
Fiber optic connectivity market is anticipated to record a CAGR of 11% over the forecast period. The market is expected to attain a total market size of USD 14 billion by 2027.The market is witnessing vibrant growth on the account of growing demand for energy efficient solutions across the various industries coupled with low cost associated with the data transfer. This is expected to boost the growth of fiber optic connectivity market during the forecast period. Additionally, the high investment return associated with fiber optic system is also major reason for the growth of market during the forecast period. Moreover, the growing technological advancement in the communication technology is also driving the growth of fiber optic connectivity market.
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On the basis of regional analysis, global Fiber Optic Connectivity Market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Europe is expected to be a leading region for the fiber optic connectivity market during the forecast period. The growth of the fiber optic connectivity market can be attributed to the increasing demand for data transmission across various industries coupled with the high penetration of fiber optic technology in various industries in the region. North America is also expected to witness substantial growth during the forecast period on the account of large number of data center in the region coupled with increasing demand from various industries.
Low cost associated with the optic fiber connectivity
The low cost related to the optic fiber connectivity coupled with the high cost of return associated with fiber optic network is expected to fuel the fiber optic connectivity market. Additionally, the optic fiber connectivity saves the costs associated with the infrastructure as only fiber optic needs to be replaced. Thus, it is expected to increase the market growth of the overall fiber optic connectivity market during the forecast period.
The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fiber optic connectivity market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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