Fiber Optic Global Market – Overview
The Global Fiber Optic Market is growing rapidly mainly due to its augmented uses in some of the burgeoning industries that use technologies for example computer networking, broadcasting, medical scanning, and military equipment. Fiber Optic cables are predominantly used in Telecom and Data management (internet Service providing companies) to carry information over long distances quite superiorly as compared to copper cables with higher bandwidth and no signal loss or interference. The Fiber Optics offer high bandwidth allowing more data at the lighting speed. Besides the growing opportunities in the healthcare sector such as endoscopic imaging applications and biomedical sensing applications are boosting the market growth of Fiber Optics.
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.
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 Fiber 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), and Extron Electronics (U.S.) are some of the prominent players at the forefront of competition in the Global Fiber Optic Market and are profiled in MRFR Analysis.
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Industry/Innovation/Related News:
December 22, 2017 – Europe – Ripley Tools, LLC.( the global leader in the design and manufacture of cutting, stripping and cable preparation tools in the fiber optic and telecommunications industries) announced the acquisition of Optical Design Manufacturing (ODM) Inc., a design and manufacturer of quality fiber optic testing equipment. ODM’s electronics expertise will expand Ripley’s current product offering and provide additional solutions to customers of their Miller® brand fiber optic cable preparation tool line.
With the Miller® brand, Ripley Tools, united by a common goal of producing high quality, innovative solutions for the fiber optic professional, is confident that together these two leaders will increase the value to both Ripley and ODM customers while enhancing future growth and performance.
December 19, 2017 – (US) – Adelos, Inc. and the U.S. Navy announced their collaboration into a Cooperative Research and Development Agreement (CRADA) to develop new capabilities related to Phosonic™ 3.0+ fiber optic sensor system for border and perimeter security applications. The CRADA represents specific collaborative areas of research between the U.S. Navy and Adelos, and extends a long-term, valuable relationship between the research partners. These areas involve advanced materials design, acoustic signal processing applications, target classification algorithms, and other areas of interest to the US Government.
December 20, 2017 – (US) – The Greeneville Board of Mayor and Aldermen approved a fiber optic network for many of the town’s offices. The network will include service to the Greeneville Fire Department, the Roby Fitzgerald Adult Canter, EastView Recreation Centre and the Public Works Department. Town Hall will also be included, but the Greeneville Police Department, which is housed in the building, will remain on its own secure network. The project will require a one-time cost of approximately $61,000 and a monthly recurring cost of $3,340. Current monthly internet costs total $706.
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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