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For instance, fiber connections are used by more than 130 million homes. It is the most advanced technology for building the next generation of communication networks. The technology connects homes to the operator through optic fiber wires. Increase in adoption of fiber to the home (FTTH) connectivityįTTH is a popular integrated communication technology that uses fiber optic technology to enable faster and more effective communication. 5G is currently being tested in several markets and is expected to begin widespread implementation in 2020. Moreover, formidable network performance goals of 5G are heavily predicated on a massive availability of fiber connectivity.
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The characteristics of 5G, such as high data speeds and throughputs, are greatly influenced by these heavy-duty optical fiber networks that affect both the wireless side and wireline side of the infrastructure. The 5th generation wireless connection is expected to be the next leap in technology, as it can transmit more data while providing a more steady and reliable connection. The demand for more data and better coverage across the world is on the rise among consumers. Furthermore, technological advancements in the fiber optic cable technology and rise in investments in optical fiber cable (OFC) network infrastructure are expected to provide lucrative opportunities for the market. However, high installation cost & growth in the wireless communication systems are expected to hamper the global optical fiber market growth during the forecast period.
#Driver toolkit 8.3.5 key drivers
Widespread implementation of 5G, increase in adoption of fiber to the home (FTTH) connectivity, and emergence of internet of things (IoT) act as major drivers of the market. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA. Based on industry vertical, it is categorized into telecom & IT, public sector, healthcare, energy & utilities, aerospace & defense, manufacturing, and others. By type, it comprises glass optical fiber and plastic optical fiber. Based on mode, the market is bifurcated into single mode and multi-mode. The global optical fiber market is segmented by mode, type, industry vertical, and region. The study provides Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market. The report focuses on the growth prospects and restraints of the market based on the analysis of the global optical fiber market trends. However, North America is expected to witness the highest growth rate during the forecast period. The Asia-Pacific region dominated the overall market in 2017 primarily due to increase in penetration of optical fiber technologies in developing economies owing to numerous upcoming projects, such as smart cities. These factors have increased the demand for optical fiber cable and connectors in the telecom sector. The telecom & IT segment dominated the overall market in 2017 and is expected to continue this trend during the forecast period owing to the growth in need for greater bandwidth and faster speed connections. Global Optical Fiber Market, By Industry Vertical
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The single mode segment dominated the overall market in 2017 and is expected to continue this trend during the forecast period, as it offers numerous advantages that include high attenuation and dispersion, great data-transmitting capabilities, and others. Get more information on this report: Request Sample Pages The global optical fiber market was valued at $3,477 million in 2017, and is projected to reach $8,153 million by 2025, growing at a CAGR of 11.6% from 2018 to 2025. The adoption of fiber optic cables to send signals with less amount of loss has increased over the period, which drives the growth of the market. The optical fiber has wide usages in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. An optical fiber is a transparent and flexible fiber made by drawing glass or plastic, which is used to transmit light.