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 from 2018-2025. North America is one of the leading regions across the world in terms of market share as the fiber optic market in this region has a high demand as they are used in production of glass which is mainly used for transmitting light over long distances, thus, pushing the growth of fiber optics market.
Global Fiber Optics Market by Cable Type (Single Mode, Multi-Mode), Optical Fiber Type (Glass, Plastics), Application (Communication, Non Communication), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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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
The cable type segment is classified into single mode and multi-mode. The single mode fibre optics segment is growing with the highest CAGR of 14.5% in the forecast period. The next generation of high bandwidth which offers various benefits, along with the use of connected devices, is expected to require speedier and higher bandwidth networks that in turn will channelize the use of multi-mode cable for data transfer, thus, leading to growth of the segment. Optical fiber type segment includes glass and plastics. Glass optic fibre segment is dominating the market. It offers 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 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 with the highest share of 66.90% in 2017 as it is observed that the telecom industry has recorded highest development in fiber optics market.
Preference over bandwidth-intensive, high-speed and high-data rate applications has raised the demand for 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 another factors driving the growth of the market. In addition, to meet the increasing demand for the handset, the optical fiber is deployed for LED light which is also fuelling the growth of market. For putting up the entire system in proper place, high amount of cost labor and investments is required which makes it a tedious job may hamper the growth of market. However, use of new, improved and advanced technology boost the market in coming years.
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