The fiber-optic components market will rise at a compound annual growth rate (CAGR) of 10% from $17.15bn in 2018 to $27.6bn in 2023, according to a report from MarketsandMarkets. Factors that are driving growth are the increasing deployment of data centers, growing Internet penetration and data traffic, and rising demand for bandwidth and reliability.

Market for AOCs to grow at highest rate

Cloud technology has developed rapidly with the beginning of the Big Data age. To satisfy the demands of higher bandwidth and more applications in a variety of cloud computing environments, active optical cables (AOCs) have been developed. The AOC market is hence expected to grow at the highest CAGR.

100G to lead market by 2023

The market for 100G is growing as it offers high-speed, increased data rate, pre-defined user configuration, and complete automation capabilities. 100G is hence expected to hold the largest share of the fiber-optic components market by 2023.

Communications to be largest application

Among various applications, communications is expected to have the largest share of the market between 2018 and 2023. Growth is attributed to the mass utilization of digital technologies and applications in telecoms, data centers and enterprises, as well as positive trends in broadband and Big Data management.

APAC to be biggest region

The largest market by geographic region during the forecast period is expected to be the Asia Pacific (APAC), where rising industrialization and infrastructure development offer enormous opportunities for the use of fiber-optic components across various applications.

Major players in the fiber-optic components market are cited as Finisar (USA), Lumentum (USA), Broadcom (USA), Sumitomo Electric (Japan), and Accelink Technologies (China), Acacia Communications (USA), Emcore (USA), Fujitsu Optical Components (Japan), Furukawa Electric (Japan), and II-VI (USA).

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