DUBLIN - April 21, 2017 - PRNewswire – Research and Markets has announced the addition of the "Fiber Optics Market by Cable - Global Forecast to 2021" report to their offering.
The fiber optics market is projected to reach USD 5.00 Billion by 2021, at a CAGR of 9.8% from 2016 to 2021.
The growing importance of cloud computing, data transfer & storage, and IoT is driving the use of Internet, which is driving the fiber optics market, as it acts as the backbone for data transmission. The demand for the Internet is also driven by several other factors such as increase in the number of connected devices in homes, increase in the demand for Over-The-Top (OTT) video content, and the increasing Internet access. All these factors have led to an increase in Internet users, which in turn has led to the higher usage of optical fiber cable to transfer information over the Internet, thus driving the fiber optics market.
The fiber optics market is segmented by cable type, optical fiber type, application, and region. Cable type is further subsegmented into two types, namely, single mode and multi-mode. Optical fiber type is further subsegmented into two types, namely, glass optical fiber and plastic optics fiber.
The market for the single cable type is expected to grow at a high rate from 2016 to 2021. The next generation of high bandwidth applications, along with the proliferation of connected devices, is expected to require faster and higher bandwidth networks which will require the use of multi-mode cable for data transfer. This growth in the FTTx networks in turn is expected to drive the fiber optics market.
The market for glass optical fiber is expected to grow at a high rate from 2016 to 2021. Advantages such as greater bandwidth; immunity to interference from vibrations & electricity; and the light weight are expected to drive its market in applications such as telecom and CATV which require mechanical protection against stress.
The major restraint in the fiber optics market is the growing use of wireless communications systems in remote areas. Mergers & acquisitions and new product launches are the most preferred strategies adopted by the key players to sustain in this highly competitive market. Major opportunities in the market are the advances in technologies leading to an increase in the data transmission rate and factors & trends defining the telecommunications industry in the Middle East & Africa. The fiber optics market is projected to growth at a high rate from 2016 to 2021.
