The global fiber optics market is growing with the rapid pace is mainly due to high bandwidth communication for long distance via optical fiber which is propelling the fiber optics market growth to the large extent. 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 % during the forecast period.
The increasing demand in different applications such as fiber optic lighting, CATV, security, premises, sensors, and others which are appealing the market growth to a large extent. The fiber optic market is gaining momentum due to multimode cables are widely used among users as these are used for communication over short distances at a very high speed. The use of electronics products including light-emitting diodes and vertical-cavity surface-emitting lasers are propelling the fiber optics market growth. The light-emitting diodes along with fiber optics is used to emit electromagnetic radiation, which is used for detecting faults, LAN/WANs, breaks, and others.
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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.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Fiber optics Market.
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.
The skilled management in the companies functioning in the market are making business models which can bring about a fruitful phase of development. The market development by competitors encompasses strong risk management strategies which will positively influence the market. The contenders in the market are also leveraging their competitive advantages to secure their growth in the market. The competitors in the market are determinedly trying to launch leading market positions through new policies and strategies. The competitors in the market are trying to succeed commercially by ensuring demand and supply are in balance. The key trends and players have established a positive tone for development. The momentum of the market’s growth has altered the competitive background of the market.
The fiber optic market is segmented on the basis of optical fiber type, components, end-users, applications and region. The components segment of the market comprises of couplers, connectors, amplifiers, transmitters & receivers and others. The type of optical fiber is further segmented into multiple mode, single mode, and plastic mode. The applications segment consists of CATV, sensors, fiber optic lighting, security, and others. The end users are segmented into military, telecom & broadband, utilities, aerospace, and others. The market covers regions such as Asia Pacific, North America, Europe, and rest of the world.
Detailed Regional Analysis
The regional analysis of the market for fiber optics includes region such as Asia pacific (India, China, Japan), Europe (U.K, Germany), North America (Mexico, U.S, Canada) and Rest of the World. The North American region is among the prime regions in terms of market share across the world. The fiber optic market in this region is experiencing huge demand owing to use of optic fibers glass which is extensively used for transmitting light over long distances, which is driving the progress of fiber optics market. The fiber optic market in the European region is anticipated to witness swift development in the upcoming period. Whereas, the Asia Pacific nations such as Japan, China, and India are an evolving market for fiber optic market is anticipated to be the highest CAGR generators in the upcoming years.
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- 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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