The diverse purposes of fiber optics have increased the scope of development of the market. Market concentrated reports associated with the semiconductors and electronics industry amid others recently have been made available by Market Research Future which issues reports on this industry. The fiber optic market is anticipated to earn revenues worth USD 6 billion approximately by 2023 while developing with a CAGR of 10 percent during the forecast period.
Fiber optics have increased their importance in the past few years due to growing penetration of services that require fiber optic cables. Applications such as biomedical sensing and endoscopic imaging applications in the healthcare sector are among the chief factors proving to be beneficial to the expansion of the market. High bandwidth communication for long distance through the use of optical cables is adding to the development of the market in the forecast period. The rise in information communication levels has further incentivized growth which is expected to motivate the market’s growth by 2023.
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– Market share assessments for the regional and country level segments
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– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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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.
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.
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.
Market Drivers and Restraints:
The extensive use of fiber optics in various services such as local area network, landline communications, television cable networks, and others are propelling the growth of the global fiber optic market. High demand for fiber optics in network and telecommunication industry is majorly driving the expansion of the global fiber optic market.
Persistent research and development activities have aided the fiber optic technology to gain prominence over the past few years. The use of optical fiber in the healthcare sector in various applications such as endoscopic imaging, biomedical sensing and others are some other factors that are fueling the growth of the global fiber optic market. However, the extensive labor required for installation of the network with fiber optic requires high expenditure and is a time taking process, which is likely to create hindrance in the growth of the global fiber optic market during the forecast period.
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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 %)
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