Increasing demand for high speed internet services is expected to be the key growth factor for the fiber optics market. Fiber optics is used for digital transmission of data and is increasingly being used in place of metal wires owing to its efficiency and high transmission capacity. Fiber optic cables provide an effective transmission as they are less affected by external and internal interferences. The transmission can be done by single and multi mode fiber depending on the communication requirements. Fiber optics support remote sensing technique, which enables data transmission without any physical medium. This technique helps to communicate with even remote and inaccessible regions.
Increasing data security concerns and use of alternative raw materials is expected to drive the fiber optics market. High manufacturing and installation cost involved may hinder market growth over the forecast period. Complex manufacturing process and depleting raw material used for the process is also expected to restrict market growth over the next six years.
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Fiber optics are used in various applications including telecommunication, oil & gas, utilities, military & aerospace, private data networks, biomedical and cable television etc. Telecommunication is expected to be the key application segment over the forecast period owing to its use in desktop computers to global networks.
North America and Europe are expected to grow steadily over the forecast period. Asia Pacific is estimated to grow at a considerable rate on account of increasing market demand in application segments. Increasing use of new telecommunication technologies such as FTTx applications and 4G mobile usages is expected to be the key growth factor for the region.
Some key players in the fiber optics market include Corning Inc., Optical Cable Corporation, Fujikura Limited, Sterlite Technologies Limited, Finolex Cable Limited, Birla Furukawa Fibre Optics Limited, Australian Fibreoptic Communications (AFC), Ofs Fitel, Prysmian Spa and Yangtze Optical Fiber & Cable Co. Ltd. High initial investment and maintenance cost is expected to restrict entry of new players in the fiber optics market.
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