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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Some of the players profiled in the report are 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.
The Global Hybrid Fiber Optic Connector Market is segmented as follows:
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
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Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered by the Report:
- Which market segment or sub-segment is expected to grow at the highest CAGR during the forecast timeline?
- What is the forecast valuation of the Hybrid Fiber Optic Connector market?
- Who are the leading players in the industry? What are the weaknesses and strengths of these players?
- What are the strategic business steps and initiatives taken by the key competitors in the industry?
- What region is expected to dominate the market in the forecast period?
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