The global fiber optics market is growing with the rapid pace is mainly due to high bandwidth communication for long distance via optical fiber which is propelling the fiber optics market growth to the large extent. According to a recent study report published by the Market Research Future, The global market of fiber optics is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
The global fiber optics market is driven due to the increasing demand of latest technologies such as RFID, Fiber and NFC and others which is boosting the market growth fiber optics. The RFID tag which is integrated into the optical fiber cable, connectors, adapters and others is used to accomplish the tracking automatically in data centers. The growing opportunities in the healthcare sector such as endoscopic imaging applications, and biomedical sensing applications are boosting the market growth of fiber optics.
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Major Key Players
Some of the prominent players in the global fiber optic market: Optical Cable Corporation (U.S.), Sterlite Technologies (India), Fujikura Limited (Japan), Finolex Cable Limited (India), Ofs Fitel, Llc (U.S.), Prysmian Spa (Italy), Infinera Corporation (U.S.), Corning INC. (U.S.), Birla Furukawa Fibre Optics (India), AFC Group (Australia), Molex Incorporated (U.S.), Anixter International (U.S), Luna (U.S.), Avantes (U.S), Pepperl+Fuchs (Germany), Geokon, Incorporated (U.S.), L-com.com (U.S.), TE Connectivity (Switzerland), Extron Electronics (U.S.) and among others.
Avantes (the U.S), Birla Furukawa Fibre Optics (India), Finolex Cable Limited (India), Pepperl+Fuchs (Germany), Geokon, Incorporated (the U.S.), L-com.com (the U.S.), TE Connectivity (Switzerland), Extron Electronics (the U.S.), Sterlite Technologies (India), and others.
According to MRFR, The global Fiber Optic Market is expected to grow at USD 6 billion by 2023, at a CAGR of ~10% during the forecast period 2017-2023.
In September 2018, NASA and Made In Space have demonstrated the merits of manufacturing fiber optic filaments in microgravity. ZBLAN is the fiber optic material that is chosen for this demonstration.
In August 2018, Reliance Jio (India) has started the registration for optical fiber based fixed-line broadband service. It has claimed to offer download speed of one gigabit per second through this service.
The Market of fiber optics appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on latest technology and, most of all, in acquiring other firms. Prominent vendors of fiber optics targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to invent new fiber optics modules that match the changing trends and needs across the globe. These players possess a strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among fiber optics industry marketers on inbound lead generation over branding-oriented efforts.
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The global fiber optics market has been segmented on the basis of components, optical fiber type, application and end-users. Based on components, the fiber optic market is segmented into connectors, couplers, transmitters & receivers, amplifiers and others. Based on optical fiber type, the fiber optic market is segmented into single mode, multiple mode and plastic mode. Based on application, the fiber optic market is segmented into fiber optic lighting, CATV, security, sensors, and others. Based on end-users, the fiber optic market is segmented into telecom & broadband, military, aerospace, utilities and others.
Geographically, the global fiber optic market is segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America region is projecting to be one of the leading regions in the global fiber optic market owing to the rapid expansion of telecommunication industry and widespread application of optical fibers in the well-developed healthcare sector in this region. The Europe region is projecting high growth potential in the global fiber optic market owing to the huge demand for fiber optics for transmission over long distances in this region. The fiberoptic market in the Asia Pacific region is anticipated to grow significantly over the forecast period.
- Fiber optic companies
- Fiber optic providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
LIST OF TABLES
Table 1 Global Fiber Optics Market: By Region, 2017-2023
Table 2 North America Fiber Optics Market: By Country, 2017-2023
Table 3 Europe Fiber Optics Market: By Country, 2017-2023
Table 4 Asia-Pacific Fiber Optics Market: By Country, 2017-2023
Table 5 Middle East & Africa Fiber Optics Market: By Country, 2017-2023
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LIST OF FIGURES
FIGURE 1 Global Fiber Optics market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Fiber Optics Market
FIGURE 4 Value Chain of Global Fiber Optics Market
FIGURE 5 Share of Global Fiber Optics Market in 2017, by country (in %)