FIBER OPTIC CIRCULATORS MARKET ANALYSIS
Fiber Optic Circulators Market, by Type (3 – Ports, 4 – Ports, and More than 4 – Ports), by Application (Telecommunications, Private Data Networks, Cable TV, Military or Aerospace, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Source : Fiber Optic Circulators Market
Fiber optic circulator is a high performance three or four-port optical device that is used to transmit light from one port to another port. This means if the light is traveling from port 1, then it should be emitted from port 2 and if some of the emitted light is reflected back, then it is emitted from port 3 instead of port 1. Fiber optical circulators are used to separate optical signals that travel in opposite directions in an optic fiber in order to complete bidirectional transmission. Optical circulators are also known as non-reciprocal optics, which means when the light travels in the opposite direction, changes in the light properties are not reversed. Fiber optic circulators majorly find application in the healthcare and medical industry, which is expected to drive the market growth over the forecast period.
Factors Driving Growth of the Fiber Optic Circulators Market
Increasing demand from the telecommunication sector is expected to drive the market growth over the forecast period. Fiber optic circulators are highly used in the telecom industry, as optical fiber circulators are the medium for the transmission of a signal from one point to another. This is attributed to the increasing use of mobile devices and high bandwidth connectivity. The number of connected devices is increasing, which is expected to drive the market growth over the forecast period. Moreover, growing internet penetration that has increased data traffic and rising adoption of internet of things (IoT) are also expected to drive the fiber optic circulators market growth over the forecast period. For instance, according to International Energy Agency (IEA), the number of internet users is expected to increase from 3,600 million in 2018 to 5,000 million by 2025. Moreover, the number of internet of things (IoT) connections is expected to increase from 7,500 million in 2018 to over 25,000 million by 2025.
The rapid increase in the deployment of data center solutions is expected to drive the market growth over the forecast period. This is owing to the rising deployment of data centers by major IT companies to manage large amounts of data and integration of cloud services. As most countries are shifting towards on-soil data requirements where customer PII (Personal Identifier Information) data should remain in the country, to meet this requirement, all the IT companies across the globe are setting data centers in every country. Companies are now focusing on developing new methods or techniques to cater to the increasing demand from IT sectors. For instance, Amazon Web Service, Inc. invested US$ 1,500 million to set up two data centers in Hyderabad due to increased demand for cloud services in India. Thus, increasing demand from cloud-based solutions within enterprises increases demand for fiber optic circulators, thereby driving the market growth over the forecast period.
Furthermore, the major factor hindering growth of the fiber optic circulators market is high installation cost. The installation of the entire network is one of the costliest and tedious procedures.
Regional Analysis of Fiber Optic Circulators Market
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to account for the largest market share during the forecast period, owing to the presence of key players in the region such as Ascentta, Inc., Aviation Magneto Optical Sensor Corp., and Boston Applied Technologies Incorporated. Moreover, rising demand for smartphones and internet facilities in the region contributes to increasing adoption of optical fiber circulators for telecommunication applications. For instance, according to Coherent Market Insights’ analysis, the penetration of smartphones reached 73.2% in 2019 from 57.8% in 2015.
Asia Pacific is also expected to witness significant market growth due to the technological advancements and large-scale adoption of IoT technology in IT and telecommunication as well as administrative sector. For instance, according to GSMA (Global System for Mobile Communication), 5G connections are expected to reach US$ 670 million in Asia Pacific by 2025.
Key Development:
In June 2019, Lightel launched its DI-2000 to expand its product series with autofocus features and optional Wi-Fi connectivity. The DI-2000 package consists four UPC tips, free ConnectorView software for image display, auto-centering, image capture, and digital zoom.
Fiber Optic Circulators Market - Impact of Coronavirus (Covid-19) Pandemic
Due to the Covid-19 pandemic, several industries have witnessed a significant shift in terms of security in their business. There has been a positive impact on growth of the fiber optic circulators market. Globally, most of the countries are affected by COVID-19 and most of the countries have announced lockdown. Most of the private companies have announced work from home till the situation gets under control. Due to in-home isolation worldwide, smart devices such as laptop, tablets, smart phones, and others are being used for communication and live virtual events for minimizing the social and economic impact of the outbreak. The demand for Netflix online streaming has increased worldwide, as most of the users use Netflix for entertainment. For instance, according to Coherent Market Insights’ analysis, live streaming is expected to be a US$ 73,500 million industry by 2021 from 31,100 million in 2016, owing to penetration of internet worldwide. Audiences or people have been viewing 82% more live videos in 2016 than in 2015. Such factors result in increasing demand for optical fiber circulators in the telecom sector.
Key Players in the Fiber Optic Circulators Market
Key players operating in the fiber optic circulators market include Ascentta, Inc., Aviation Magneto Optical Sensor Corp., Boston Applied Technologies Incorporated, Crowntech Photonics, DK Photonics Technology, FiberLake, Intepon, KOC Group, KINSOM Technology Limited, and Lightel.
Segmentation of the Fiber Optic Circulators Market
The fiber optic circulators market is segmented on the basis of type, application, and region.
- On the basis of type, the fiber optic circulators market is segmented into:
- 3 – Ports
- 4 – Ports
- More than 4 - Ports
- On the basis of application, the fiber optic circulators market is segmented into:
- Telecommunications
- Private Data Networks
- Cable TV
- Military or Aerospace
- Others
- On the basis of region, the fiber optic circulators market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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