Fiber Optic Components Market Revenue $37.5 Billion by 2027

Northbrook, IL -- (SBWIRE) -- 01/21/2022 -- According to the new research report the "Fiber Optic Components Market with Covid-19 impact by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Fiber Optic Components Market is expected to grow from USD 24.5 billion in 2022 to USD 37.5 billion by 2027; it is expected to grow at a CAGR of 8.9% during 2022–2027. Key factors fueling this markets growth include increasing deployment of data centers; growing internet penetration and data traffic; and rising demand for bandwidth. Increase in adoption of fiber optic components in digital signage market; rise in demand for fiber optics due to reliability; and expansion of telecommunication infrastructure in developing economies create a strong demand for fiber optic components for efficient operations in the midst of COVID-19.