The global hybrid fiber optic connector market is expected to reach USD 1.13 Billion by 2027, according to a new report by Reports and Data. Hybrid fiber optic connectors offer both electrical and optical fiber contacts in a single durable connecting solution, enabling both data and power signals to be transmitted smoothly and seamlessly via one connector. Hybrid fiber optic connector helps in saving money, space, design installation time and provides excellent optical performance in indoor/outdoor locations.
The escalating demand for optical fibers from the oil and gas sector is driving the growth of the market. A growing inclination is witnessed among the firms in the oil gas sector towards the expansion of their operation to meet the increasing demand of petroleum around the world. As a result of this expansion, the oil gas firms are investing in the installation of optical fibers, which offers large bandwidths for assistance in fetching data about levels of oil reserve, the performance of machinery/equipment performance, and environmental conditions.
Increasing the global defense budget is playing a vital role in driving the growth of the market. The expenditure on defense is likely to rise between 3.0% and 4.0% in 2020 to reach a projected USD 1.90 trillion, as governments across the globe continue to recapitalize and modernize their militaries. Most of the growth is expected to be driven by augmented defense spending in the US, along with other regions, such as India China.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Keyword market:
Diamond SA, LEMO, Stabuli International AG, Smiths Interconnect Inc., TE Connectivity, Teledyne Reynolds Inc., Hirose Electric Company, QPC Fiber Optic, Amphenol Corporation, and Toshiba, among others.
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The global market is further segmented into type and application:
Attenuation Outlook (Revenue, USD Million; 2017-2027)
- 1 dB
- 5 dB
- 75 dB
Fiber Optic Mode Outlook (Revenue, USD Million; 2017-2027)
- Single-Mode
- Multi-Mode
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
- Telecom
- Oil Gas
- Military Aerospace
- Railway
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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