According to a report made available by Radiant Insights, Inc.; the global optical fiber markets projected to register momentous growth by 2022.Increasing end-use application including community access television (CATV) and telecom is expected to boost the market over the forecast period (2017 to 2022). Rising use of high speed internet and supportive government policies can further drive the market. In addition, technological advancements and demand for large bandwidths for communication in IT, defense, and private and government sectors is anticipated to impel the market growth.
Growing use of internet has increased the data traffic, thus, network operators are increasingly upgrading their network to provide improved bandwidth. The rising use of internet applications like internet of things (IoT) is one of the key trends expected to drive the market for optical fiber in the forthcoming years. Machine-to-machine (M2M) communication allows devices to exchange information with less or no human intervention. Rising adoption of M2M is expected to positively influence the global market over the forecast period.
Technological improvements in networking technologies have played major role in development and adoption of IoT-based applications. This will encourage network operators to build new data centers to support the heavy data traffic. This factor is anticipated to drive the market during the forecast period. Government efforts are also projected to play a crucial role in creating development opportunities for the market players.
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The worldwide optical fiber market can be segmented on the basis of application and region. As per application, the market can be categorized into industrial, telecom, and utility. Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is one of the largest markets due to the presence of established players and early adoption of technology.
Asia-Pacific, on the other hand, is expected to grow rapidly during the forecast period due to development of high-speed transmission network and supportive government policies. Growing demand for high speed internet in developing countries, rapid industrialization, and growing telecom industry can further impel the regional market. In addition, increasing infrastructure development in energy and transport sectors, residential and commercial sites, and academic institutes is expected to further fuel the optical fiber market growth. Economic improvement and large-scale investments are anticipated to support the regional infrastructure development in near future.
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Key players operating in the market for optical fiber include Hitachi, TongDing Group Co., Ltd., Sumitomo Electric Industries, Hengtong Optic-electric Co. LTD, and TKH Group NV. The market is extremely competitive due to presence of numerous regional and international companies. The competition is likely to increase due to technological advancements and products and services offered by the top market participants. Most market players are focusing on development of innovative technologies and adoption of latest trends to sustain the competition. They are also anticipated to engage in mergers &acquisitions (M&A) and partnerships with regional players for business expansions.
For instance, Spark New Zealand, a New Zealand based mobile telecommunications company recently launches its IoT network across the country. The network comprises gateways and antennas that are deployed on top of the company’s 4G cell sites. The company is also likely to allow local governments and businesses to deploy sensors across infrastructures like machinery, vehicles, car parks, garbage bins, and livestock. The company is also investing heavily nits fiber broadband and Optical Transport Network (OTN).
In another recent development in the optical fiber market, Nokia has announced a three-year partnership with Spark New Zealand to upgrade its mobile and fixed-line network infrastructure. This collaboration is expected to be able to support the increasing data traffic due to rising usage of 5G and IoT services. The latter is expected to gain advantage with Nokia’s 7250 IXR-R6 router which consists of connectivity options like Synchronous Optical Networking (SONET).
Read more related reports by Radiant Insights:
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