Fiber Converter Market Size, Share, Growth, and Industry Analysis by Type (10/100 Mbps Type and 1000Mbps Type), By Application (IP Security, Factory Automation, Transportation Systems, Electric Utility, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Fiber Converter Market Report Overview

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The global fiber converter market size was USD 1388.5 million in 2021 and is projected to touch USD 2021.37 million by 2031, exhibiting a CAGR of 3.8% during the forecast period.

A fiber converter is a basic networking device that converts and connects signals between fiber optic cables and twisted pair or coaxial cables. Organizations can use these devices to connect cable systems and fiber-optic networks to pre-existing copper-based cable systems. The majority of significant data transmission protocols are intended to be maintained by it. In order to link and distribute local area networks across a wide area network, fiber converters are helpful. Fiber media converters have a number of benefits, including less electromagnetic interference, blazing-fast internet, secure networks, and increased optical fiber bandwidth.

The fiber converter market is expanding because there is a rising need for fiber converters in various locations for efficient data transfer over long distances. The market is seeing an increase in demand as more people transition from local area networks to fiber optic networks. The market is expanding due to factors such as rising organisation investment in networking infrastructure upgrades and rising bandwidth demand in challenging conditions. Contrarily, the worldwide market for media converters is anticipated to benefit from growing demand and ongoing development in industrial goods.

COVID-19 Impact: Data Demands to Increase Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the fiber converter market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over. 

The COVID-19 pandemic had a poor impact on the world economy. The majority of the industry was inactive. The only method to interact with others while everyone was confined behind four walls was through a virtual environment. Companies maintained their presence online while being unable to actively participate in the actual world. With employees increasingly using platforms like Zoom, Skype, and GlobalMeet to connect and collaborate rather than physically attending meetings, the abrupt change to remote work had dramatically raised data consumption, which fueled the rise of the fiber converter market. In general, the pandemic had a favorable effect on the world market for it.

LATEST TRENDS

"Rising Needs of Data Connection to Support Market Development"

The growing need for data connections caused a sharp shift in the growth of the fiber converter industry. In this digital age, businesses want to conduct and document all labor, communications, and transactions online. And a faultless data connection is a need for the ideal working environment. Every second we miss in the business sector due to a poor internet connection has a significant financial impact, thus it is no longer an option but rather a need. Fiber cable has complete electrical interference resistance and offers superior protection than copper cabling when there is no electromagnetic emission. It makes it easier for companies, utilities, the government, and the financial industry to transmit customer information securely from one location to another. As a result, there is now more demand in major businesses for fiber converter market.

Fiber Converter Market Segmentation

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By Type

Based on type; the market is divided into 10/100 Mbps Type and 1000Mbps Type

10/100 Mbps are the leading part of the type segment.

By Application

Based on application; the market is divided into IP security, factory automation, transportation systems, electrical utility, and others

IP security is the leading part of the application segment.

DRIVING FACTORS

"Easy Installation to Increase the Market Demand"

The ease of installation in existing cable connections and infrastructure, as well as the rising utilisation of fiber optics in industrial communication systems, are expected to drive development in the worldwide converter market. There are several more characteristics that are the qualities of fiber converters that interest the market. It enables individual network users to complete activities in the shortest period of time feasible. Fiber-based media converters are adaptable and offer high functionality at a low cost.

"Penetration of Internet Usage to Inflate Market Growth"

Product demand is projected to be driven by internet penetration. It is expected to boost market expansion. LANs and WANs are merging, and networks are expanding in size. New network services are increasing demand for bandwidth. As a result, speed is required. Every industry operates online. They have a distinct virtual market space in addition to the real work setup. To sustain their presence, they require an error-free internet connection, which propels the fiber converter market growth

RESTRAINING FACTORS

"High Installation Costs to Hamper Product Demand"

The expense of installing fiber optic networks limits the expansion of the fiber converter industry. Although the long-term cost is cheaper, the cost of constructing fiber optic cabling is still more than that of copper lines. To lay fiber optic networks, specific test equipment and installers with specialised skills are typically required. Special equipment and settings are also required for optical fiber end points and connecting nodes. If the cable is destroyed, the repair charges would be greater.

Fiber Converter Market Regional Insights

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"North America to Lead Market Owing to Urbanization "

Because of increased digitalization, North America has the highest fiber converter market share. The internet is being used more often to drive market demand. Technological developments and digitalisation in developing countries are expected to boost sales. The presence of large market participants in the region is expected to boost market share. The presence of a high number of production facilities in regions is likely to drive market share. Countries are expected to provide the most to enable market share. Companies in the region are adopting online platforms to reach and supply to customers, which is expected to boost product demand.

KEY INDUSTRY PLAYERS

"Industry Players to Support the Market Expansion"

The study provides information on the industry's market participants and their activities. With proper research, technical advances, acquisitions, mergers, expanding manufacturing lines, and partnerships, information is gathered and reported. Other factors considered for this market include organisations creating and releasing new goods, locations in which they operate, automation, technology adoption, generating the greatest income, and making a difference with their products.

List of Market Players Profiled

• Siemens (Germany)
• Red Lion Controls (U.S.)
• Weidmüller (Germany)
• Hirschmann (Germany)
• Phoenix (Germany)
• Advantech (Taiwan)
• Moxa (Taiwan)
• Kyland (China)
• Oring (Taiwan)
• EtherWAN (U.S.)
• Korenix (Taiwan)
• FiberPlex  (U.S.)
• Meinberg (Germany)
• Huahuan (China)
• Raisecom (China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.