An optical Fiber refers to a flexible and transparent Fiber made up of glass or plastic. It has a diameter slightly thicker than a human hair and is arranged in bundles known as optical cables. Fiber optics cable is used to transmit information from one end to another end of cable using an optical (light-based) technology. It uses glass or plastic which makes it capable to transmit signal to long distance with minimum loss due to unaffected electromagnetic interference.
The major factors that are driving the growth of the Global Fiber Optics market include the increasing demand of internet across the globe and the growing need for FTTx (Fiber to the X). The growing number of internet user worldwide and the increasing need for high bandwidth communication to transmit heavy data such as videos and images, is further accelerating the growing demand of the market. Growing need for high speed internet in the telecommunications and IT sector will have a positive impact on the market in the upcoming years.
In addition, the continuous technological advancement in telecommunication sector, is expected to rise the deployment of broadband network architectures, thereby boosting the growth of the market. Moreover, telecommunication industry in Middle East & Africa is growing rapidly due to rising investment in infrastructure in this region. The increasing number of internet-based devices, growing data connectivity demand and rising number of subscribers will boost telecommunication industry in this region, which is further encouraging the market growth. However, rising wireless communication system is a major factor restraining the growth of the market.
Based on Fiber Type, the glass segment is expected to grow at a higher CAGR in the market during the forecast period owing to the growing demand from several applications and easy availability and better performance of the glass Fiber optics.
Based on the Application, the communication segment is expected to grow at a higher CAGR during the forecast period due to the growing number of internet user across the world coupled with the growth in utility, telecom, and industrial sector. Moreover, large base of population in China and India which is driving telecom industry in this region, that leads to rise the growth of the market.
Based on the region, Asia-Pacific is anticipated to lead the global Fiber Optics market during the forecast period owing to the increasing industrialization and infrastructural development that offer various growth opportunities for the use of Fiber optics in various applications. In addition to this, the presence of highly populated countries such as China and India in this region and growing number of internet user is further propelling market growth.
The major key players in the market include Corning Incorporated, LS Cable & System, Prysmian Group, Sterlite Technologies Limited, Ii-Vi Incorporated, Leoni AG, Sumitomo Electric Industries, Ltd (Sei), Optical Cable Corporation, Fujikura Limited, Yangtze Optical Fiber And Cable Co., Ltd. Furukawa Electric Co. Ltd. among others.
The Global Fiber Optics market has been segmented based on the Fiber Type, Type, Application, and Key region. Based on Fiber Type, the market is segmented into Glass and Plastic. Based on Cable Type, the market is segmented into Single Mode and Multi-Mode. Based on Application, the market is segmented into Communication and Non-communication. The Communication market is further segmented into Telecom, Premises, Utility, Cable Antenna, Television (CATV), Industrial, Military, and Others. The Non-communication market is further segmented into Sensors, and Fiber Optics Lighting.
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