The global fiber splice closure market is expected to witness a market value of US$ 2.67 Billion in 2023 and is expected to accumulate a market value of US$ 4.56 Billion by registering a CAGR of 5.5% in the forecast period 2023 to 2033. The market for Fiber Splice Closure market registered a CAGR of 2.7% in the historical period 2018 to 2022. A surge in the telecommunication industry across the globe, owing to the increase in internet penetration is expected to augment the market growth.
As per Future Market Insights - a market research and competitive intelligence provider, the global market value for Fiber Splice Closure has been augmented, owing to the factors such as the ability of fiber splice closures to branch the various optical fibers in various places including aerial, duct as well as direct buried fiber optic cable projects.
The increase in the number of data centers and telecom operators, the proliferation of FTTx networks, the surge in the demand for fiber optic communication, the rise in the emergence of 5G technology, and the increasing demand for cloud services, as well as data storage, are other factors that are anticipated to boost the growth of the fiber splice closures market over the analysis period. Also, another major factor driving the demand for fiber splice closures is the need for reliable and secure communication networks, that increase the sales of fiber optic cables.
Additionally, the manufacturers of fiber closure have been emphasizing the manufacturing of the fiber splice closure of excellent engineering plastics, which are suitable for protecting optical fiber cables. This in turn is expected to fuel the sales of the fiber splice closures in the forthcoming years.
On the regional ground, the North America fiber splice closures market is projected to dominate the global market, on the back of continually surging demand for fiber optic cables as well as associated products from various end-use industries, including IT & electronics, telecommunication, energy & utilities, and others. In addition, factors such as presence of large market players, and the high adoption of advanced technology in the region are expected to create lucrative avenues for the market growth.
On the other hand, Asia Pacific is expected to hold a significant share in the fiber splice closure market, attributed to growing advancements in 5G network technology, coupled with surge in construction projects of optical fiber line in the region. Further, the rise in technological development in the telecom industry in the region, specifically in India and ASEAN countries is another major factor that is expected to augment the regional market growth in the near future.
Various start-ups are entering the market and contributing to the fostering growth of the market. One such start-up is Lumenisity, which in October 2020, launched a new line of hollow-core fiber cables. The technology utilizes air as a medium of transmission within the fiber core, as opposed to glass. The cable targets DWDM applications with a reach exceeding 10 km.
Furthermore, established manufacturers are focusing on developing new products with technological advancements in the industry. For instance, in December 2020, AFL, launched the Apex™ family of fiber optic splice closures. The Apex splice closure is designed to lower overall installation time with easier-to-use sealing and cable retention methods, along with industry-leading density, especially when coupled with AFL’s LM-series MicroCore® cable or Wrapping Tube Cable powered by SpiderWeb Ribbon®. In May 2022, R&M launched fiber-to-the-home (FTTH) services in North America. This introduction will now provide end-to-end connectivity from the central office to premises.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 2.67 billion |
| Projected Market Value in 2033 | US$ 4.56 billion |
| Growth Rate (2023 to 2033) | CAGR of 5.5% |
Fiber splice closures is used to protecting the fiber optic splices and stripped fiber optic cable from the environment. The modern fiber splice closure are offered in shapes which can provide accommodations from 72 to 576 single fiber splices.
Many manufactures are developing the fiber splice closures with gel-sealed end caps, the all new gel port design allows for quicker installation compared to the traditional mechanical closures and it also prevents already installed/connected cables in the fiber splice closure
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The sales of the fiber splice closure is directly connected to the telecommunication industry, with increasing internet penetration worldwide is expected to drive the demand for fiber splice closure in the upcoming years.
The fiber splice closure helps to branching the various optical fibers in various places such, aerial, duct and direct buried fiber optic cable projects, these above mention factors are expected to drive the demand for the fiber splice closure market.
The increasing technological development in telecom industry such as increasing adoption of 4G network across the emerging countries such as India and ASEAN countries is likely to drive the demand for the fiber splice closure during the forecast period.
Various fiber splice closure manufacturers are emphasizing on the manufacturing the fiber splice closure of excellent engineering plastics and which are also suitable for protecting optical fiber cables.The fiber splice closure also used in data center for connection between two or more lines and also increasing data centers across the globe is expected to drive the demand for fiber splice closure market.
Europe is expected to have a prominent market share in the fiber splice closures market as most of the European countries are adopting the 5G technology in the upcoming year, which directly affect the demand for fiber splice closures.
Asia Pacific is projected to have a significant share in the fiber splice closures market, as increasing 4G and 5G network technology, moreover increased construction projects of the optical fiber line, which results in increasing sales of the fiber splice closures in the region.
North America is likely to have nominal growth in the fiber splice closures market. The Middle East & Africa is anticipated to moderate growth rate in the upcoming years, However South Africa and Turkey might record a portion of the opportunity due to increasing infrastructure development in the region.
Latin America is projected to witness decent growth during the forecast period because of positive development in the telecom industry of Mexico and Brazil in the region.
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List of some of the prominent market participants in a fiber splice closures market are
The research report on fiber splice closures market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The fiber splice closures market report also contains projections using a suitable set of assumptions and methodologies.
The research report on fiber splice closures market provides analysis and information according to market segments such as by type and application and cable type.
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The fiber splice closures market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The fiber splice closures market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The fiber splice closures market report also maps the qualitative impact of various market factors on market segments and geographies.
The fiber splice closures market can be segmented on the basis of by type and application and cable type.
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Fiber Splice Closure Market
