Rising Applications across Offshore Oil and Gas Exploration Industry to Boost Consumption of Fiber Optic Connectors Globally

Published Date : Sep 06, 2016

Albany, NY, Sep 06, 2016: A detailed market research report examining the global market for fiber optic connectors has recently been added to the research report database of MarketResearchReports.biz. The report, titled “Global Fiber Optic Connectors Market 2016-2020,” states that the market will exhibit an excellent 9.65% CAGR between 2016 and 2020. 

The rapidly expanding base of mobile internet users and the ubiquity of connected devices globally are the key factors to have driven the increased demand for fiber optic connectors globally in the past few years. These factors will also remain the key drivers of the global fiber optic connectors market in the near future as rising internet traffic will compel a rising number of network providers to upgrade networks and deploy optical technologies. Optical fiber cables will be the candidate of choice when compared to copper wires as light enables faster transfer of data, has a low data loss quotient, and offers greater bandwidth than electric signals. Such benefits are expected to lead to an increased adoption of fiber optic cables globally and, consecutively, stimulate the global demand for fiber optic connectors.

The higher bandwidth and longer transmission distance enabled by fiber optic cables are also expected to augment their adoption in the offshore oil and gas exploration and production industry, where reserves are mostly nestled in operating areas that are located in extremely remote locations. The rapid rise in subsea processing globally is expected to generate huge volumes of data, which will stimulate the increased adoption of fiber optic cables.

Of the key product varieties available in the fiber optic connectors market, the segment of lucent fiber optic connector dominated the global market, holding a share of over 44% in 2015. Features such as better return loss and insertion, flexibility, on-field installation, polarity reversal, and ease of cleaning work in favor of LC fiber optic connectors. In the next few years as well, the segment of LC fiber optic connectors is expected to retain their dominance and witness an increased level of adoption across the datacom and telecom sectors.

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Of the key regional markets for fiber optic connectors, APAC is expected to account for a dominant share of nearly 56% of the overall market by 2020 and is also expected to dominate throughout the forecast period. Expanding networks of internet in developing economies such as India and China coupled with the rising demand for high-speed internet connections will drive the market in the region. Also, the strong industrial sector with large scale operations units of industries such as telecom, automotive electronic parts, computers and peripherals, and aviation will also prove to be beneficial for the global fiber optic connectors market in the next few years.

Prominent vendors operating in the market include Alcatel-Lucent, 3M, ADTEK, Furukawa Electric, Corning Cable Systems, Diamond, Shenzhen DYS Fiber Optic Technology, Amphenol Corporation, Hirose Electric, Optical Cable, Sterlite Optical Technologies, and Sumitomo Electric Industries.

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