Fiber Optic Market Analysis
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. The inclination towards high bandwidth speeds, communication networking technologies, and opportunities in industries gravitating towards IIoT are major drivers of the market. Government funding for telecommunication infrastructure, auction of new frequency spectrums, and new areas of investment can bode well for the market. Constant developments in research and development, potential of remote work and online learning, and the efficiency of low-cost applications can pave the way for the market.
There are many organizations like Optical Cable Corporation (U.S.), Sterlite Technologies (India), Fujikura Limited (Japan), etc. which are the major providers of fiber optics; these companies take a maximum share of the Fiber Optic Market Share in the global market. In the year 2016 (August), an MNC named Infinera Corporation collaborated with Lumentum Holdings Inc. to develop together an Intelligent Transport Network DWDM platform that integrated with an advanced white box optical line system. With this pairing, the major enterprises are operating in a large and open optical networking modern environment. These companies have constructed a simulated point-to-point modern and advanced metro fiber network with the ambition of bringing together the concept of open networking in the public market.
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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.
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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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