Newark, NJ, Jan. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global fiber optics market is expected to grow from USD 3.25 Billion in 2017 to USD 7.89 Billion by 2025 at a CAGR of 11.7% during the forecast period 2018-2025. Rising awareness about data security issues, employment of the optional raw material, increasing demand for the handset, increasing use of the internet, mounting demand of FTTX and switching over to bandwidth-intensive, high-speed, high-data rate applications are the factors driving the Fiber optics market.
Fiber optics is defined as a type of optics that uses glass threads to disseminate data. This technology consists of a bundle of glass threads each of which is capable of transmitting messages modulated onto light waves. In order to transmit data from one cable to another cable, there are several benefits such as it uses thinner and lighter bandwidth as compared to metal cables and data can also be communicated digitally rather than analogically. There are three important elements of Fiber optics transmission system namely transmitter, Fiber optic cable and receiver The optical fiber has wide applications in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. The fiber optic cables are highly adopted over metal cables to send signals with less amount of loss thus driving the growth of the market. According to the article published by Kizhakedath Media Services, more than71 percent of respondents expected to transition the mainstream of their networks to FTTH (fiber-to-the-home) by 2025. Due to the importance of Fiber optics in India and its various features such as greater bandwidth and others, the growth of its market will increased in future.
Preference over bandwidth-intensive, high-speed and high-data-rate applications has raised the demand for the global fiber optics market. Also, increasing awareness about data security issues and employment of the optional raw material and rise in use of the internet are other factors driving the growth of the market. Besides, to meet the increasing demand for the handset, the optical fiber is deployed for the LED light which is also fuelling the growth of the market. For putting up the entire system in the proper place, a high amount of cost labor and investments is required which makes it a tedious job that may hamper the growth of the market. However, the use of new, improved and advanced technology boost the market in the coming years.
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Key players operating in the global Fiber optics market include Optical Cable Corporation Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel, Llc, Prysmian Spa, Infinera Corporation, Corning INC., Birla Furukawa Fiber Optics, AFC Group, Molex Incorporated, Anixter International, Luna, Avantes, Pepperl+Fuchs, Geokon, Incorporated, L-com.com, TE Connectivity, Extron Electronics and among others.
- Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector. For instance, In June 2016, Corning Inc. acquired Alliance Fiber Optic Optical Fiber Types Inc. (U.S.) so that it could support its growth in data centers and FTTH applications.
- Prominent companies in the industry include Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel Llc, among others. Various nations like U.S, Germany, U.K, China and Japan are offering greater opportunities for new product developments and venture capital investments to obtain a highest market share. In March 2016, Sumitomo Electric Industries (SEI) introduced a multi-core.
Single mode Fiber optics segment is growing with the highest CAGR of 14.5% in the forecast period
The cable type segment is classified into single-mode and multi-mode. The single-mode Fiber optics segment is growing with the highest CAGR in the forecast period. The next generation of high bandwidth offers various benefits. The progression in the FTTX networks leads to increase in demand of the segment.
Glass optic Fiber segment is dominating the market with the highest share of 64.50% in 2017
Optical fiber type segment includes glass and plastics. Glass optic Fiber segment is dominating the market as it provides for larger and better bandwidth, protection to interference from vibrations & electricity and its light weight properties are expected to drive its demand in the market
The communication segment is dominating the market and valued around USD 2.17 Billion 2017
The application segment includes communication and non-communication. The communication segment is further bifurcated into telecom, premises, utility, CATV, industrial, military and others. The non-communication segment is divided into sensors and fiber optic lighting. The communication sector is dominating the market in 2017 as the telecom industry has recorded highest development in the fiber optics market because it provides various benefits such as point-to-point communication, entertainment, delivery, and access to Internet-enabled services, critical communication, news & infotainment, among others.
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Regional Segment Analysis of the Fiber Optics Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global fiber optics market with USD 1.19 Billion in 2017 where as the Asia Pacific region has shown substantial growth over the years in the market. North America is one of the leading regions across the world in terms of market share. The fiber optic market in this region has a high demand as optic fibers are used in glass which is mainly used for transmitting light over long distances, which is pushing the growth of fiber optics market. The Asia Pacific is showing a substantial amount of growth rate and is likely to show fascinating development for fiber optics market in years to come due to use of improved and enhanced technology in the telecom industry.
About the report:
The global Fiber optics market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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