Fiber optic connectivity is a communication exchange technology in which information from one place to another is transferred with the help of light through an optical fiber. Fiber optic connectivity offers high-speed data transmission. Fiber optic connectivity finds application in various industries such as telecommunication, energy & utilities, smart cities, power stations, as well as residential applications. These solutions make use of a number of fiber optical components.

Majority of these components include optical cables, fiber optic cable assemblies, hybrid cables, optical couplers, patch cords and pigtails, optical connectors, enclosures/ fiber boxes, manufacturing and cleaning tools, optical transceivers, cabling systems (cable dividers, distributors, junctions), wavelength division multiplexers/de-multiplexers, and optical circulators. These components are widely used in FTTx applications and during deployment of fiber optic networks. These components also find use in applications such as fiber in the loop (FITL), interoffice, loop feeder, synchronous digital hierarchy (SDH) systems, hybrid fiber-coaxial cable (HFC), and synchronous optical network (SONET).

Optical components help in saving the total cost of ownership by a huge margin, as the cost of installation of fiber optic equipment and components is low. In a fiber optic network, the closet and switches can be mounted on the smallest of spaces available, in turn saving 45% of the capital expenditure. In a fiber optic network, upgrades are much easier, as it uses the existing optical cable and only the electronics need to be replaced, rather than replacing the whole infrastructure, which helps to save 75% of the cost.

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In addition, the highly-efficient equipment promises high return on investment. This low cost of ownership is achieved with fiber optic components by using a highly-centralized distribution network, which is passive in nature. With savings in both capital and operating expenditure, fiber optics leads to considerable savings in the total cost of ownership. Additionally, increasing deployment of fiber optic networks across multiple industries is expected to supplement the growth of the fiber optic connectivity market during the forecast period.

The fiber optic connectivity market is segmented based on component, industry, and geography. According to the research study, the hardware component of the fiber optic connectivity market is anticipated to experience flourishing growth during the forecast period. This is mainly due to the strong demand for fiber optic components such as cable assemblies, connectors, switches, and others such as enclosures/ fiber boxes.

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By 2026, the hardware component of fiber optic connectivity is projected to cover more than 75% of the global market. In terms of industry segment, smart cities segment is projected to dominate the global fiber optic connectivity market. Smart cities mainly include building automation and street furniture.