Fiber Optic Connectors Market Size, Share, Opportunities, And Trends By Type (LC, SC, ST, MTRJ, Others), By Component (Ferrule, Connector Body, Coupling), By Application (Security System, Public Utility Network, Industrial Networking, Lighting, Internet & LAN Connectivity), And By Geography - Forecasts From 2023 To 2028

The fiber optic connectors market was valued at US$2.807 billion in 2021.

Fiber optic connectors are devices used to join or terminate optical fibers, allowing for the efficient transmission of light signals between two fiber optic cables or devices. These connectors ensure that the connection between fibers is stable and precise and minimizes signal loss. The booming telecommunications industry along with the rollout of 5G implementation, and growing demand for high-speed internet is majorly driving the fiber optic connectors market growth.

Expanding Telecommunications Industry

Telecommunication companies are investing in expanding their fiber optic networks to meet the increasing demand for faster and more reliable connectivity. This is driving the need for a wide range of fiber optic connectors to facilitate network deployment and maintenance. For instance, in the first quarter of 2023, mobile telephony services earned £3.2 billion in retail revenue, a £113.3 (3.7%) increase over the previous year in the UK as per the Ofcom data. Moreover, according to the Ministry of Telecommunications of India, the number of telephones in India increased from 1176.79 million in 2020 to 1200.88 million in 2021.

Growing Demand for High-Speed Internet and Data-Transmission

The proliferation of data-intensive applications such as video streaming, cloud computing, and the Internet of Things (IoT) is driving the need for high-speed data transmission. Fiber optic connectors play a crucial role in providing the necessary bandwidth to support these applications. For instance, according to the Q4 2022 Google Cloud Brand Pulse Survey, approximately 41.4% of cloud industry leaders are in the process of enhancing their utilization of cloud-based services and products. Additionally, about 33.4% of these leaders have intentions to transition from traditional enterprise software to cloud-based solutions. These trends are expected to accelerate the fiber optic connectors industry growth.

Advancements in Fiber Optic Technology

Ongoing advancements in fiber optic technology, such as higher data transmission rates and improved signal quality are bolstering the fiber optic connectors market growth. SDM involves transmitting multiple data channels using separate spatial modes within a single optical fiber. This technology increases the potential capacity of fiber optic networks by exploiting the spatial dimensions of light propagation. Moreover, MDM is a technology that leverages different light modes in an optical fiber to increase data transmission capacity. By using different modes of light propagation, MDM can effectively increase the amount of data that can be transmitted through a single fiber.

Government Initiatives for 5G Connections

The rollout of 5G networks is another driver propelling the fiber optic connectors market expansion. Government initiatives to encourage 5G rollout throughout the world are boosting industry development. For instance, through the Horizon 2020 Program, the European Commission announced public funding of more than €700 million approximately USD 861 million to assist 5G rollout across Europe. Moreover, In September 2021, the UK government initiated a competition worth £4 million known as the Digital Connectivity Infrastructure Accelerator project which was aimed to investigate methods to streamline the process for mobile companies to utilize publicly owned structures and roadside installations, such as CCTV poles for the installation of 5G radio equipment.

Restraints in the Market

The fiber optic connectors market has experienced growth and development however some restraints or challenges can impact its expansion. For example, while fiber optics offer many benefits, the installation and maintenance processes can be more complex than those for traditional copper cabling. Additionally, the existence of various fiber optic connector standards can lead to compatibility issues and confusion during network deployment. Organizations may need to invest extra effort in selecting the right connector type and ensuring interoperability. Further, upgrading to fiber optics might require organizations to replace their existing infrastructure including network equipment and devices. This transition can be challenging, especially for older systems.

North America is Expected to Grow Considerably

North America is expected to hold a significant share of the fiber optic connectors market during the forecast period owing to the increasing pace of fiber optic connector deployment, significant government funding, and technological advancements. For instance, the 2022 Fiber Provider Survey conducted by the Fiber Broadband Association revealed that fiber-to-the-home (FTTH) networks in the United States expanded their coverage to an additional 7.9 million homes during the year 2022. Moreover, Canadian Fibre Optics Corp. announced in November 2022 that it will be expanding its fiber-to-the-house (FTTH) footprint to High Prairie, Alberta.

Major Market Players

• Amphenol Corporation, founded in 1932 is a global company that specializes in designing and manufacturing a wide range of interconnect products and solutions. It offers a wide range of fiber optic connectors such as ARINC 801 Fiber Optic Connectors for aerospace operations, CF38999 Multi-Channel Fiber Optic Connectors, and others.
• Broadcom Inc. is a US-based semiconductor company, founded in 1961. Simplex and duplex fiber optic connections from Broadcom are reasonably priced for polymer optical fiber (POF) and work with any transmitters and receivers from the flexible link series. The company's fiber optic connections feature a straightforward latching and non-latching, snap-together design that eliminates the need for crimping.
• Extron Electronics, established in 1983 is a company that specializes in designing, manufacturing, and distributing professional AV (audiovisual) solutions and technologies. It offers Quick LC Fiber Optic Connectors that are field installable and reusable up to two times.

Key Market Developments          

• In November 2022, Prysmian entered a contract worth EUR 220 million (USD 238.26 million) with Samsung C&T in collaboration with Jan De Nul. The project encompasses the establishment of the Middle East's inaugural high-voltage, direct current (HVDC-VSC) subsea power transmission system and fiber optic cable systems. This initiative will link the onshore converter station at Al Mirfa to the artificial island of Al Ghallan in the Arabian Gulf.
• In January 2022, R&M introduced a terminable fiber optic connection that can efficiently and effectively handle FTTH butterfly cables. This field connector can contribute significantly to cost savings, especially in the case of blanked fiber optic rollouts.
• In September 2021, TechLogix launched a 62.5um multimode OM1 fiber-optic compatible snap-on connectors. It allows for the repair and re-termination of older fiber as well. It is available in two models named M19-LC and M1U-SC connectors.

Fiber Optic Connectors Market Scope:

Segmentation:

• By Type
  • LC
  • SC
  • ST
  • MTRJ
  • Others
• By Component
  • Ferrule
  • Connector Body
  • Coupling
• By Application
  • Security System
  • Public Utility Network
  • Industrial Networking
  • Lighting
  • Internet & LAN Connectivity
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others