Market Highlights:
The Fiber Optic market is mainly driven by the demand for Fiber Optic Cables worldwide for the high speed internet as the traditional wires are not able to meet the expectation. Growing countries which are adopting the new technology for high speed internet is creating huge demand for the Fiber Optic. Major opportunities in the market are the advances in technologies leading to an increase in the data transmission rate and factors & trends defining the telecommunications industry across the globe. Additionally, Fiber Optic empowers data transmission, attributing to which; augmented adoption of cloud computing, data transfer & storage, and IoT is fuelling the extended use of Internet, eventually fostering the market growth of Fiber Optics market. Additionally, advanced Fiber Optic components such as optical connectors, adapters, optical assemblies, optical backplanes, optical circuitry, termination kits and tooling are fostering the market growth of Fiber Optics globally.
Accrediting its heightened uses due to which Fiber Optics market is vibrating with the substantial prominence and the growth prospects the market is demonstrating currently; the Market Research Future, recently published a meticulous study report giving out the complete market prognosis accentuating the growth opportunities. In its Analysis, MRFR asserts that the global Fiber Optic market will ascend up to USD ~6 billion by 2023, registering a significant double digit CAGR of ~10% during the forecast period 2017-2023.
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Major Key Players
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.
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.
Industry News
November 2, 2017 – Fujikura Ltd had launched high performance silica core fiber which is specially designed for next-generation long-haul terrestrial networks and optical transmission system with high-speed digital signal processing.
In August 2016- Infinera Corporation paired with Lumentum Holdings Inc. for Intelligent Transport Network DWDM platforms incorporated with white box optical line system. With this pairing, the companies are operating in an open optical networking environment. These companies have build a simulated point-to-point metro fiber network with the aim of bringing the open networking concepts in the market.
June 2, 2016 – Sterlite Technologies Ltd has announced its new high-quality optical communication products and services. Their product portfolio includes innovative optical fiber, optical fiber cable and data cable technologies. With this technologies, the company is planning to deliver smarter and long-lasting networks.
Regional Analysis
The regional analysis of Fiber Optic market is being studied for region such as Asia pacific (China, Japan, India), North America (U.S, Mexico, Canada), Europe (U.K, Germany) and Rest of the World. North America is one of the leading regions across the world in terms of market share. The Fiber Optic market in this region has a huge demand due to optic fibers use glass which is widely used for transmitting light over long distances, which is propelling the growth of fiber optics market. The Fiber Optic market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for Fiber Optic market is expected to be the highest CAGR in the coming years.
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Competitive Analysis
The Market of fiber optics appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on latest technology and, most of all, in acquiring other firms. Prominent vendors of fiber optics targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to invent new fiber optics modules that match the changing trends and needs across the globe. These players possess a strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among fiber optics industry marketers on inbound lead generation over branding-oriented efforts.
Intended Audience
- 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
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