Witnessing Growth At A CAGR Of Over 10%, Fiber Optic Components Market Is Expected To Reach USD 27.73 Billion By 2024 | TechSci Research
Global Fiber Optic Components Market is expected to reach USD 27.73 Billion by 2024, witnessing growth at a CAGR of over 10%, in value terms, owing to rising technological advancements in cloud computing and increasing use of high-speed broadband networks in telecom, virtualization and big data applications. Moreover, growing security concerns of the large data generated and the rising internet traffic will propel the Global Fiber Optic Components Market further. Based on type of the Fiber Optic Components market , the transceiver segment is expected to lead the market due to its applications like high-speed data transmission and better interconnect capability. Based on the applications, communication segment holds the largest share and is expected to maintain its position in the next five years due to growing trends in broadband and big data management. Asia-Pacific is projected to grow at the fastest rate during the forecast period, due to rising industrial and infrastructural...