The global fiber optic components market will reach $2018.171 billion in 5

According to a report by international market research firm Markets and Markets, the global fiber optic components market is expected to grow from $17.
15 billion in 2018 to $27.
6 billion in 2023, with a CAGR of 10%
during the period.
Factors driving the growth of this market include increasing data center deployments, increasing internet penetration and data traffic, and growing demand
for bandwidth and reliability.

The global fiber optic components market will reach $17.
15 billion in 2018

The market for fiber optic components for active optical cables will grow at the highest rate

From 2018 to 2023, the market for active optical fiber optic fiber components is expected to grow
at the highest compound annual growth rate.
With the beginning of the era of big data, cloud technology is developing rapidly
.
In order to meet the demand for higher bandwidth and more applications in various cloud computing environments, active optical cables were developed
.

The field of 100G fiber optic components will lead the global market

By 2023, the field of 100G fiber optic components will occupy the largest market share
.
The market for 100G data rates is growing because it offers high-speed enhanced data rates, predefined user configurations, and complete automation capabilities
.

Communication applications will lead the fiber optic components market

Among the various applications, communication applications are expected to account for the largest share
of the overall fiber optic components market by 2023.
The growth of this market can be attributed to the large number of applications of digital technologies and applications
in telecommunications, data centers, and enterprises.
In addition, positive trends in broadband and big data management are also driving the growth of
communication applications.
As communication applications develop, so will the demand for fiber optic components
.

Asia Pacific is poised to become a leading global market

Asia Pacific will become the largest fiber optic components market during
the forecast period.
Rising industrialization and infrastructure development offer tremendous opportunities
for the use of fiber optic components for various applications in the Asia-Pacific region.

Key players in the fiber optic components market include Finisa (US), Lumentum (US), Broadcom (US), Sumitomo Electric (Japan), Optics Technology (China), Acacia Communications (US), Fujitsu Optical Components (Japan), Furukawa Electric, and II-VI (US).

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