The global Fiber Optic Market is predicted to touch USD
6 billion at a 10% CAGR between 2017- 2023 states the recent Market Research
Future (MRFR) analysis. A fiber optic, simply put, is a transparent, flexible
fiber that is made of plastic or extruded glass (silica) that can work as a
light pipe or waveguide for transmitting light between the fibers’ both ends.
Fiber optics provides high bandwidth that allows more data to be offered at the
earliest. Amplifiers, transmitters and receivers, couplers, connectors, and
others are some of its components. Owing to its alluring characteristics and
endless benefits, fiber optic is mostly used in utilities, aerospace, military,
and telecom and broadband.
Various factors are propelling the global fiber
optic market share. As per the current MRFR report, such factors include
burgeoning demand for communication having high bandwidth, development of
network infrastructure, and growing opportunities, especially in the healthcare
industry like biomedical sensing applications & endoscopic imaging applications.
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On the flip side, the initial high investment for
deployment, fragile nature, and demand for wireless communication technology
are factors that may impede the global fiber optic market growth over the
forecast period. Besides, the temporary shutdown of manufacturing facilities
resulting in a slowdown in the production due to the ongoing COVID-19 pandemic
is also impacting the market growth.
Market Segmentation
The MRFR report provides an inclusive segmental
analysis of the global fiber optic market based on end users, applications,
optical fiber type, and components.
By components, the global fiber optic market is
segmented into amplifiers, transmitters and receivers, couplers, connectors,
and others.
By optical fiber type, the global fiber optic market
is segmented into plastics mode, multiple mode, and single-mode. Of these, the
multiple mode segment will lead the market over the forecast period.
By applications, the global fiber optic market is
segmented into sensors, premises, security, CATV, fiber optic lighting, and
others.
By end users, the global fiber optic market is
segmented into utilities, aerospace, military, and telecom and broadband. Of
these, telecom and broadband segment will dominate the market over the forecast
period.
Regional Analysis
Based on the region, the global fiber optic market
report covers the growth opportunities and recent trends across the Asia
Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of
these, North America will spearhead the market over the forecast period. Use of
latest technologies such as NFC and RFID, increasing use as a tag for optical
fiber cables, presence of prominent companies, and its burgeoning demand from
different sectors like utilities, aerospace, military, telecom and broadband,
and others are adding to the global fiber optic market growth in the region.
The global fiber optic market in the APAC region is
predicted to grow at a fast pace over the forecast period. Advances in the
telecommunication sector and enhanced technology are adding to the global fiber
optic market growth in the region.
The global fiber optic market in Europe is predicted
to have sound growth over the forecast period.
The global fiber optic market in the RoW is
predicted to have steady growth over the forecast period. Increasing awareness,
the growing use of broadband technology, and surging demand for fiber optic are
adding to the fiber optic market growth in the region.
Key Players
Eminent contenders profiled in the global fiber
optic market report include Extron Electronics (U.S.), TE Connectivity
(Switzerland), L-com.com (U.S.), Geokon, Incorporated (U.S.), Pepperl+Fuchs
(Germany), Avantes (U.S), Luna (U.S.), Anixter International (U.S), Molex
Incorporated (U.S.), AFC Group (Australia), Birla Furukawa Fibre Optics
(India), Corning INC. (U.S.), Infinera Corporation (U.S.), Prysmian Spa
(Italy), Ofs Fitel, Llc (U.S.), Finolex Cable Limited (India), Fujikura Limited
(Japan), Sterlite Technologies (India), and Optical Cable Corporation (U.S.),
among others.
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