With a compound annual growth rate of 7.40% from 2015 through 2021 and an increasing demand for high bandwidth, fiber optical components will be rising in demand for the years to come. As the increase in demand for cloud based services increases as well, so will the amount of fiber components in data centers. The advances in medicinal technology have also led to a major increase in demand for fiber optics in the health sector.
The main fiber optic component markets types are LC, SC, ST, MPO/MTP and a few others. The main industries in demand for fiber optical components are the Telecom Industry, Datacom (Data Centers), DWDM systems, Lasers, and now Medicine Technologies.
Geographically, the fiber optic market has been established in North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. In 2014 it was North America that reigned supreme with revenue in the fiber market.
To take a look at results for 2015 and projections by the Transparency Mkt. Research group, request a sample study here.