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Fiber Optics Market Growing Steadily at 11.45% CAGR by 2021
July 12, 2017 | PRNewswireEstimated reading time: 2 minutes
Fibre optics market analyst says one trend in the market is emerging cloud computing. Cloud is a virtual and remote data center that stores, manages, and retrieves data or resources without requiring any infrastructure costs. Cloud is categorized into three divisions: public, private, and hybrid.
The global fiber optics market for telecommunication accounted for more than 73% of the market share in 2016. Telecommunication gets inputs from various sources, which may be voice calls or internet data or any other information. Previously, the communication channel was made of copper wires, which used to transmit electrical signals.
According to the 2017 fiber optics market report, one driver in the market is growing demand for increased network bandwidth. Growth in internet bandwidth is affected due to factors like the rise in disruptive technologies, which help in shifting of bandwidth usage according to the usage of network and mobile computing devices such as tablets, wearable, and smartphones having new capabilities. The major drivers of the smartphone industry are the deployment of next-generation wireless networks like 3G,4G, and 5G, as these technologies offer wireless connection equivalent to home broadband connections, and increased popularity of smartphones, which is increasing the network traffic.
The following companies as the key players in the global fiber optics market: Corning, Furukawa Electric, Optical Cable, Prysmian, Sterlite Technologies, and YOFC. Other prominent vendors in the market are: Fujikura, FUTONG Group, and General Cable.
Fiber Optics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global fiber optics market for 2017-2021. To calculate the market size, the report considers the sales of fiber optic and fiber optic cables to various application segments including cable TV, data center, military, oil and gas, and telecommunication.
Data centers are a large group of networked computers used by the organization for remote storage, processing, or distribution of a large amount of data. With growing market of cloud computing, there is a high increase in demand for data centers. With the increase in internet penetration worldwide, there is a tremendous amount of data flow from users to data centers and again back.
Further, the report states that one challenge in the fiber optics market is lack of skilled technicians. As the market is growing at a rapid pace, with increase in number of installations, investments, and R&D, it is necessary to have a skilled technician that is expertise in this market. These technicians have to be thoroughly well versed with the technologies as the technology keeps on changing. Earlier, there was more use of copper wire rather than optical fiber. So, these technicians should be educated before going on these projects. Lack of knowledge and number of technician is increasing the work time, leading to increase in the time-to-market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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