Fundamentally speaking, the fiber optic cables with optical connectors are mainly used in telecom communication fields, from small or middle-sized offices to hyper-scale data centers. As the following figure shows telecom accounted for the largest market share in terms of revenue. Furthermore, increasing demands of 5G networks, 100/200/400G high-speed transmission, and cloud-based applications will also stimulate demand. There is still a continued rise in global demand from the burgeoning IT industry regarding the availability of power-efficient, cost-effective, and high-level network infrastructure.
Besides, the oil & gas, military & aerospace, and medical application segments are poised to witness significant growth rates, owing to the increasing adoption of multimode and Plastic Optical Fiber (POF) across these application segments. For instance, military forces use the optical connector technology for a wide variety of ground, sea, air, and space solicitations, such as in avionics testing equipment modules and ground support systems in fighter planes.