11 September 2018
The U.S. fiber optic market size is expected to reach USD 3.56 billion by 2025. This growth is attributed to increasing demand from widespread applications owing to its high quality, cost-effectiveness, durability, and scalability over the past few years. This has introduced potential opportunities in passive telecommunication infrastructures, such as fixed line cabling, data centers and communication towers.
Institutional investors are lured by reliable returns and long-term contracts with telecom operators, thus, aiding the U.S. fiber optic market. Key factors affecting the future competitiveness of the U.S. fiber optics industry include access to foreign markets and ability of the industry to develop new technologies.
The emergence of a digital economy has driven the market over the past decade. High penetration of the Internet and wireless communication has led to a rise in demand for broadband transmission capacity in recent years. This, in turn, has boosted demand for optic fiber. Constant developments in Internet connectivity has simplified day-to-day lives; big data technology is one such development contributing to market expansion. The adoption rate of fiber optic connection in various end-use applications in North America is approximately 8.4% and is expected to increase over the forecast period. This growth is attributed to government initiatives to connect to underserved areas.
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Fiber optics are also used in military and satellite remote sensing operations, which is also likely to boost their demand. Moreover, increasing scope of application in the medical sector, such as in laser delivery system, equipment interconnects, and light conductors, is also slated to drive the market over the next few years. Traditionally, these materials were commonly used for light therapy, clinical diagnostics, ophthalmic laser, x-ray imaging, endoscopy, microscopy, and others.
Fiber sensing technology is widely used in the oil and gas sector and is expected to grow at a significant rate during the next few years. Safety and efficient production has become an essential part of offshore and onshore oil and gas operations. Optical fibers, which can withstand high temperature/pressure and harsh environments, are suitable for such applications. Thus, manufacturers are launching efficient and durable products targeting specific industries. For instance, Furukawa Company provides a fully distributed sensor with fibers such as graded and single mode. Increasing deployment of optical fibers as sensing elements in non-transmission applications in various industries is expected to drive the market in the coming years.
Industrial use is expected to be the fastest-growing segment over the forecast period. The cable installers segment held the largest market share owing to high adoption of optic fibers in offices and house/building connectivity. The innovative and popular concept of smart homes is also expected to drive the fiber optic market in the coming years.
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