Sarasota, FL, Jan. 23, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fiber Optics Market for Telecom & Broadband, Healthcare, Defense, Private Data Networks, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”. According to the report, global fiber optics market was valued at around USD 2.75 billion in 2016 and is expected to reach approximately USD 3.72 billion in 2022, growing at a CAGR of slightly above 5.2% between 2017 and 2022.
Fiber optics is mainly used for digital transmission of data and is increasingly being used in place of metal wires due to its efficiency and high transmission capacity. Fiber optic cables provide an effective transmission as they are less affected by internal and external interferences. The transmission can be done by single and multi-mode fiber depending on the communication requirements. Fiber optics support remote sensing technique which allows data transmission without any physical medium. This technique helps to communicate with even remote and inaccessible regions.
Browse through 8 Market Tables and 17 Figures spread through 110 Pages and in-depth TOC on “Global Fiber Optics Market: Type, Application, Size, Share, Statistics, Outlook, Analysis, Segment and Forecast 2016 – 2022”.
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The growth of the fiber optics market is mainly driven by increasing awareness about data security concerns and use of the alternative raw material. In addition, growing demand for the smartphone which uses optical fiber for LED light is spurring demand of fiber optics market. The fiber can carry light from the one place to a remote place whereas it can be used for taking the heat away from light or allowing a single large light to be divided into tiny points of light smaller than any light source alone. Therefore it can be used in museums, galleries and architecture/design. However, the high initial cost is considered as the key hurdle for the growth of fiber optics market.
On the basis of application, the fiber optic market is segmented into telecom & broadband, healthcare, defense, cable television, private data networks, and others. Telecom sector is witnessing highest growth and expected to maintain healthy growth over the forecast period.
Browse the full "Fiber Optics Market for Telecom & Broadband, Healthcare, Defense, Private Data Networks, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022" report at https://www.zionmarketresearch.com/report/fiber-optics-market
By region, the fiber optic market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America and Europe are expected to exhibit significant growth due to high technological advancement in these regions. In North America, fiber optics lighting is used for a number of commercials, medical, and industrial applications such as metrology, web inspection, surgical, endoscopy, semiconductor and dental curing, electronic automation, power transmission, automotive data transmission utility lighting. Fiber optics is increasingly used by defense sector as U.S. manufacturers are developing ground tactical fiber optic cable and connectivity solutions for the U.S. military.
Asia Pacific is contributing to significant growth on account of increasing usage in many sectors. In Asia Pacific, China held the largest share in terms of revenue in 2016 of fiber optics market due to the implementation of the innovative strategy and also local production capacity of China is heavily boosted presently. The major players contributing major chunk in the market are YOFC, Pysmian, Corning, Shin-Etsu Chemical, and Hengtong Optic-electric. Global companies also have scaled up their investment in China for fiber optics market. At present most of the Chinese enterprises are engaged in developing new plants of fiber optics.
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Fiber optic market in Latin America is primarily driven by healthcare sector. In addition, fiber optic broadband technology is also propelling demand of fiber optic market. In the Middle East & Africa, growing penetration of smart devices and internet usage is expected to offer tremendous growth over the forecast period. Expansion of undersea fiber-optic networks has led considerable growth in terrestrial fiber-optic networks in many African and Middle Eastern countries. In addition, few Middle East & Africa households and businesses are connected to working landlines at present. Therefore where there are not already telephone landlines in place, it is easy for telecoms to skip landline deployment completely to support of fiber-optic networks.
Latin America also offers huge potential for the growth of this market. A recent survey shows that 3.65 million subscribers and 20.1 million homes passed with fiber optic networks in the 16 countries. At the same time, many countries in Latin America are taking efforts to develop backbone networks which are essential to support mobile and broadband services. Fiber-optic connections are expected to reach more than6 million in Latin America by 2017.
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The leading players in the fiber optics market are Sterlite Technologies Limited, Australian Fibreoptic Communications, Finolex Cable Limited, Ofs Fitel, Corning Inc., Fujikura Limited, Yangtze Optical Fiber and Cable Co. Ltd., Prysmian SpA, and others. However, high initial investment and maintenance cost may restrict entry of new players in the fiber optics market.
The report segments global fiber optics market as follows:
Global Fiber Optics Market: Application Segment Analysis
- Telecom & broadband
- Healthcare
- Defense
- Private data networks
Global Fiber Optics Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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