According to a new report published by Allied Market Research, titled, “Consumer Active Optical Cable Market By Technology, and Connector Type: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global consumer active optical cable market size was valued at $141.5 million in 2020, and is projected to reach $958.5 million by 2030, registering a CAGR of 22.1% from 2021 to 2030. Asia-Pacific region is expected to be the leading contributor to the global consumer active optical cable market during the forecast period, followed by North America and Europe.
An active optical cable (AOC) is a cabling technology that uses optical fiber between the connectors to improve the cable’s performance. In consumer applications, these cables are majorly used for audio-video connectivity, and network connectivity. With the help of terminals, these cables can be expanded from short length to long length, and eliminates the need for multiple connections.
The global consumer active optical cable industry is anticipated to witness significant growth over the period of forecast. The significant impacting factors in the consumer active optical cable market include rise in demand for higher bandwidth, increase in investments by governments to improve connectivity in China, growth in penetration of video on demand, video conferencing, gaming, and home surveillance services, and surge in demand for 4k and high definition display.
However, high initial investment associated with the active optical cable and threat of hacking in optical network security are expected to hinder the consumer active optical cable market growth. Conversely, advancements in fiber optics technology are projected to offer remunerative opportunities to the market growth. Each of these factors is anticipated to have a definite impact on the market during the forecast period.
The consumer active optical cable market is segmented on the basis of technology, connector type, and region. In terms of technology, the market is categorized into InfiniBand, Ethernet, HDMI, DisplayPort, and USB. On the basis of connector type, the market is divided into CFP, SFP, and others.
Region wise, the consumer active optical cable market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the global market in 2020 and is expected to dominate the market in terms of revenue during the forecast period, owing to rise in demand for high performance computing, personal computers, digital signage, and consumer electronics.
Moreover, high demand for bandwidth from cloud, video, and other applications in the region is contributes toward the growth of the consumer active optical cable market in North America, Europe holds the prominent share in the global market, and is expected to witness significant growth during the forecast period. The factors such as increase in adoption of next-generation smart-TVs and high-definition video content on the internet in the European region fuels the demand for AOCs in consumer applications.
COVID-19 Impact Analysis
The COVID-19 has impacted severely on the global electrical and electronics sector, due to which production facility as well as new projects have stalled which in turn have the significant demand in the industries. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the market in 2020.
Key Findings of the Study
The HDMI segment is projected to be the most lucrative segment during the forecast period.
APAC and North America collectively accounted for more than 59.75% of the consumer active optical cable market share in 2020.
CFP segment is anticipated to witness highest growth rate during the forecast period.
China was the major shareholder in the Asia-Pacific consumer active optical cable market, accounting for approximately 41.06% share in 2020.
The key players profiled in the report include Molex LLC, Finisar Corporation, Amphenol Corporation, Shenzhen Gigalight Technology, Sopto Technologies, Sumitomo Electric Industries, Ltd., Broadcom, 3M Corporation, IBM Corporation, and Siemon. These key players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to increase their market share and expand their foothold in the industry. Allied Market Research