Hybrid Fiber Optic Connectors Market by Attenuation (0.1dB, 0.5dB, 0.75dB, and Others), by Length (Less Than 100mm and More Than 101mm), by Endurance (500 to 2,000 cycles, 2,000 to 20,000 cycles, and More Than 20,000 cycles), and by End-Use Industry (Telecom, Oil & Gas, Aerospace & Defense, Healthcare, Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024

Global hybrid fiber optic connectors market expected to reach USD 964 million globally by 2024, at a CAGR of around 7.3% between 2018 and 2024. The increasing transportation by airways is likely to fuel the hybrid fiber optic connectors market in the future.

18-Dec-2018 | Number of pages: 146 | Report Code: ZMR-3650 | Report Format : | Status : Published

Analysis

Hybrid fiber optic connectors market is anticipated to grow in the upcoming years, owing to the rising budget for aerospace and defense sector. These connectors are used for communication in extreme conditions, due to their reliability and durability. They are operated in varied temperature ranges. In 2018, the global aerospace and defense industry is projected to grow by about 4%, witnessing twice the growth in comparison to 2017. Furthermore, in 2016, the U.S. defense budget was USD 580.3 billion and in 2018 the estimated budget is nearly USD 639 billion. The additional funds are likely to be used for operating forces, logistics, maintenance, and training. This, in turn, is predicted to fuel the hybrid fiber optic connectors market over the forecast time period.

The rising demand for fiber optics in the oil and gas sector is anticipated to boost the hybrid fiber optic connector market in the future. The oil and gas companies are expanding their operations to cater to the escalating petroleum demand. They are installing fiber optics for communication and safety applications. Fiber optics provides large bandwidths that assist firms in providing data related to environmental conditions, oil reserve levels, and equipment performance. The key market players, such as BP Plc, Shell, and Chevron, are expanding their operations globally. In 2016, Shell acquired BG Group and its projects in Brazil and Australia. These expansions are projected to further drive the hybrid fiber optic connectors market in the upcoming years. However, the time-consuming installation process and excessive product cost might limit the hybrid fiber optic connectors market globally. Huge funding across the technology segment for promoting technological innovations in the Asia Pacific is likely to create market opportunities in the future.

Hybrid Fiber Optic Connectors Market

The hybrid fiber optic connectors market is divided based on attenuation, length, endurance, and end-use industry. By attenuation, the market is divided into 0.1dB, 0.5dB, 0.75dB, and others. The 0.1dB segment is likely to hold a substantial market share over the forecast time period. By length, the market is divided into less than 100mm and more than 101mm. The endurance segment of the hybrid fiber optic connectors market includes 500 to 2,000 cycles, 2,000 to 20,000 cycles, and more than 20,000 cycles. By end-use industry, the market is segmented into telecom, oil and gas, aerospace and defense, healthcare, transportation, and others. The transportation segment is anticipated to grow considerably owing to the increasing technology adoption.

Europe is likely to hold a major share in the global hybrid fiber optic connectors market over the projected timeframe, due to the technological developments witnessed in the healthcare sector. UK and Germany are anticipated to drive this regional market. The Asia Pacific is projected grow substantially over the forecast period, due to the continuously growing telecom sector. China and India are likely to be major contributors to this regional market in the upcoming years.

Some key players of the global hybrid fiber optic connectors market are Diamond SA, Amphenol Corporation, LEMO, Hirose Electric Company, Staubli International AG, QPC Fiber Optic, LLC, Smiths Interconnect, Inc., TE Connectivity Corporation, and Teledyne Technologies, Inc., among others.


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