5G Network Installations Set to Skyrocket Fiber Optics Market

The Fiber Optic Components Market was valued in 2019 at $16.54 billion and is projected to reach $39.15 billion by 2027, growing at a compound annual growth rate (CAGR) of 11.27% for the 2020 to 2027 period. The market is expected to widen owing to the development of edge technology and the internet of things (IoT), an increased number of data centers, and the upcoming 5G network infrastructure installations.

The Market Across Regions

The fiber optic components market in 2019 was dominated by Asia-Pacific (APAC). This region has seen growth fueled mainly by development in communication applications, the expectation of 5G technologies, and the SJC2 project.

5G Technology

5G technology installations rely on low latency and edge computer solutions and are expected to offer new market opportunities for high-speed connectivity products such as fiber optic cables.

The Impact of COVID-19

The COVID-19 pandemic is affecting industries across the world, with reports from the World Health Organization (WHO) listing the US, France, Spain, Italy, Germany, the UK, Russia, Turkey, Brazil, Iran, and China as the most impacted.

Investment Opportunities

Companies are adopting inorganic market strategies across the world to meet the growing demand. The focus is placed on acquisitions and expansion of business in order to maintain brand names globally.

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