FIBER OPTIC CIRCULATORS MARKET ANALYSIS
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.
Geographies covered
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