The demand for PM components is continuously increasing, especially in the telecom and mobile industry. According to a report published at Mordor Intelligence, the market for fiber optic components is projected to grow at a compound annual growth rate (CAGR) of 10.7% during 2021–2026. The report attributes the fast growth of this market to the:
- Increasing deployment of data centers
- Growing internet penetration
- Increasing data traffic
- Rising demand for bandwidth and reliability
- Advancements in the fiber optic component ecosystem
Factors that Propel Demand for PM Fiber Optic Components
- Data transmission is becoming more prevalent due to the popular trend of IoT and more connected things. It is projected that the total installed base of IoT-connected devices will increase by up to 75.44 billion worldwide by 2025. It clearly indicates a fivefold increase over a decade.
- The ongoing improvements and advancements in the telecommunication sector are increasing the rate of deployment of broadband network architectures. Fiber to the Home (FTTH) and Fiber to the Building (FTTB) are significant broadband networking architectures that require the deployment of fiber optic networks on a large scale.
- Another factor that is contributing to the growth of PM components is the introduction and increasing adoption of new applications such as wearable devices, IoT, and cloud computing. The Cisco Visual Networking Index reported that the number of connected wearable devices worldwide has increased more than two times over the last three years. In fact, the number of such devices was forecasted to reach more than one billion by this year. As a result, the fiber optic component market is seeing significant growth during the forecast period.
- Internet penetration and data traffic are increasing rapidly around the world, and this, in turn, increases the growth of data centers and the need for high-speed transmission networks. All of this is ultimately fueling the fiber optic component market, including PM components. For instance, Cisco Systems forecasted that there will be 7.2 million data centers in the world, generating an even-greater amount of data by 2021 and boosting the demand for fiber optics components.
- Amidst all this, the fiber laser market is registering positive growth at a CAGR of 11.1 between 2021 and 2031. Since fiber laser systems use various PM components, they are also propelling the growth of the fiber optic component market.
At DK Photonics, we offer a wider range of optical passive components, including 1.0μm PM components, 2.0μm PM components, 80μm PM Fiber Components, and more. Whether you need optical isolators, optical couplers, optical splitters, pump combiners, optical circulators, fused products, WDM & Filter products, or high-power PM components, we have got you covered. If you need any PM components with standard or custom specifications, please get in touch.