A recent IndustryARC research projects the current interest in fiber deep architectures among cable operators to continue growing through 2025. And while the Asia-Pacific region generated a substantial chunk of revenue in the single-mode fiber segment in 2017, the North American region is anticipated for stronger growth rate in the near future. The report is titled “Fiber Optics Market: By Type, By Mode, By Cable, By Configurations, By Link Components, By Application & By Geography - Forecast (2018-2023).”
Fiber optic cables have revolutionized the world of network communication ever since its inception. These cables have almost obliterated traditional methods of networking which uses metallic wire. Fiber optics is the technology used to transmit information from one source to another. Information is transmitted either through glass or plastic optical fibers of different diameters. The major driving factor behind the use of these cables on a large scale is the high and rapidly increasing consumer and commercial demand for telecommunication and internet services. Fiber optics have advantages such as increased bandwidth, electromagnetic interference immunity, decreased cost, size, and weight, low attenuation rate, electrical isolation, and data security. Advancement of sensing application technology and communication in all kind of industries are fueling the growth of the global Fiber optics market.
The physical characteristics of the fiber, such as its flexibility and lightweight, makes it ideal for many different medical applications as well as microscopy and biomedical research. However, minimally invasive surgery is one of the main driving factors behind the success of the fiber optics market. A fiber optic sensor with distributed crack sensing capability is used in concrete models such as crack monitoring and is proved better than other monitoring technologies to identify the structural damage. Due to its greater bandwidth and speed, these cables are widely used for cable television, telephone, and internet. Rise in data storage networks is sparking up demand for fiber optic components. Several opportunities are also opening up in Middle East and Asia.
Browse 62 Market Tables, 177 Figures spread through 135 slides and an in-depth TOC on “Fiber Optics Market(2018 - 2023)”
Global Fiber Optics Market: Key Drivers
According to the IndustryARC report’ analysis, the fiber optics market has evolved rapidly over the past decade through an enormous innovation in optical technology. Fiber optical devices and cables have been proved successful across the globe offering a number of advantages to industries such as healthcare, military, and security industry. Regardless of the evolution of wireless technologies, fiber optics are essential to support the infrastructure of 5G networks. The 5G timeline includes the installation of additional macro cell sites and small cell sites, both requiring significant fiber backhaul. 5G, FTTH is expected to push single-mode fiber sales to $6.81 billion by 2025. Although 2019 to 2020 is a likely timeframe for the first commercial 5G network, some countries such as South Korea, China, Japan, and the US are looking to jump off the starting block early.
The major technology players have also come up with many solutions for the implementation of fiber optics technology in order to improve the processes of communication and sensing applications. Multiple technologies have arrived into the fiber optics market to make their products available for all kinds of sectors to expand wherever there is a need of uninterrupted communication. The National Optical Fiber Network (NOFN) is a project by the Indian Government to connect all the 250,000 Gram Panchayats in the country. This will be done by utilizing existing fibers of PSUs (BSNL, Railtel, and Power Grid) and laying incremental fiber to connect to Gram Panchayats wherever necessary. This project is estimated to attract investment of Rs20,000 Cr.
Some of the companies referred to in the fiber optics market research report include Alcatel-Lucent Sa Limited, BSNL, Reliance Jio, Furukawa Electric Co., Ltd., American insulated wire Corporation, Broadata Communications Pvt Ltd., California insulated wire & cable Ltd., Corning Inc., Diamond SA., Timbercon Inc., ROFIN, LEONI, Trumpf, Schott, Vitalcor Inc., Noma Corporation, Ofs Fitel, LLC, Optical Cable Corporation, and Precision Utilities Group.
Increased bandwidth, electromagnetic interference immunity, decreased cost, size, and weight, low attenuation rate, electrical isolation, and data security are some major factors driving fiber optics market. Rapidly increasing consumer base and commercial demand from telecommunication and internet services are some reasons key players are investing more on research and development sector and stroking the prosperity of the global fiber optics market.
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