Industry Outlook and Trend Analysis
The Fiber Optics Market was worth USD 2.67 billion in 2014 and is expected to reach approximately USD 6.16 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.73% during the forecast period. The fiber optics industry presents promising development prospects all through the estimate time frame in perspective of a mix of components in particular expanding speculations. Moreover, the developing attention to the advantages of receiving the innovation is further driving business sector development. Fiber optics innovation has picked up conspicuousness in the course of recent years, inferable from tenacious research and advancement exercises and the raising interest for high transfer speed fiber optic link for correspondence and information administrations. The worldwide market for the general fiber optics section, which incorporates fiber optic connectors, fiber optic sensors, fiber optic broadband and fiber optic links, is expected to show considerable growth over the forecast period.
Type Outlook and Trend Analysis
On the basis of Type, the market is segmented into Single Mode, Multimode and Plastic Optical Fiber (POF). The multimode segment is expected to show highest growth in terms of revenue in the upcoming years. However, factors, for example, capital venture made for the advancement of new manufacture innovations may represent a test to showcase request over the figure period. The single-mode fiber optics section is foreseen to have impressive development over the anticipated period. Single mode fiber is utilized for long separation establishments going from 2 meters to 10,000 meters. It offers bring down power misfortune in contrast with its multimode and plastic optic partners. However, it is costlier than multimode and plastic optical strands.
Application Outlook and Trend Analysis
Based on Application, the market is segmented into Telecom, Oil & Gas, Military & Aerospace, BFSI, Medical, Railway and Other Applications. The telecom segment is expected to show highest development over the forecast period. Medical and military & aerospace applications are ready to witness a critical development rate which is ascribed to the expanding selection of optic innovation gadgets over these fragments. Stringent directions and benchmarks being forced by the administration controlling specialists and medicinal affiliations are further helping the fiber optics market to prosper in the therapeutic area, in the long run driving the worldwide fiber optics market to develop at a remarkable pace over the assessed time.
Regional Outlook and Trend Analysis
North American region ruled the worldwide fibre optics market over the forecast period. The Asia Pacific region market is leading income development inferable from expanded mechanical progressions because of their huge scale appropriation in IT and media transmission and regulatory area.
The leading players in the market are AFL, Birla Furukawa Fiber Optics Private Limited, Finolex Cables Ltd., Yangtze Optical Fiber, and Cable Joint Stock Limited Company. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Fiber Optics Market is segmented as follows-
Plastic Optical Fiber (POF)
Oil & Gas
Military & Aerospace
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?