In the application segment, Telecom sector is witnessing highest growth and is expected to maintain healthy growth rate over the forecast period. And among all the types in the fiber optic components, the market for the transceiver is expected to hold the largest share by 2023. Major factors driving the fiber optic components market for transceivers include the greater interconnect capability and high-speed data transmission. In 2016 North America held the largest share in fiber optics market. APAC is forecasted to experience the highest growth in fiber optics market in the telecom sector.