This report on the Fiber Optics market gives a thorough analysis of the size, share, demand, growth, gross profits, earnings, and revenue of the industry.
This press release was orginally distributed by SBWire
New York, NY — (SBWIRE) — 08/09/2019 — It evaluates the data gathered to give an extensive view of the trends and predicts the possible developments in the forecast duration. For this study, historical data has been collected from the years 2016 and 2017 while taking 2018 as the base year to estimate the growth of the industry in the years 2019 to 2026.
Fiber Optics is the field of applied science and engineering that is responsible for the design and application of optical fibers. The global fiber optics was valued at over USD 5 billion in 2018 and is expected to cross a valuation of USD 9 billion by the end of 2025. The growth of the industry is due to the increasing number of fiber optics applications along with the continuous advancements made over the years.
An optical fiber is a transparent, flexible fiber made out of silica or glass. An optical fiber contains a core, which is surrounded by a cladding. Fiber optics cables are used widely for digital transmission of data and communication purposes. Fiber optic cables have various advantages over metal wires such as broader bandwidth completely independent of cable size, electrical insulation, resistance to electromagnetic interference, low noise and cross talks, and low loss of attenuation over long distances. Fiber optic cables also have applications in fiber optic sensors, medical use, and defense sector. The growing demand for internet and high bandwidth communication, the increasing applications of fiber optics in cloud computing, data storage, and IoT are the key driving factors of the fiber optics market. Advancements in technology and increasing integration of IoT are expected to open new opportunities in the market.
IT and Telecom sectors are the key sectors with a wide range of fiber optics application. Advancements in the telecom sector have raised the number of deployments of broadband network architectures such as Fiber to Home (FTTH), Fiber to Building (FTTB), Fiber to Cabinet (FTTC), and Fiber to Premise (FTTP) need a large-scale of fiber optic networks. The increase in the demand for such fiber-rich infrastructure is driving the demand for fiber optic cables.
Fiber optics is widely applied in the healthcare and medical industries for X-ray imaging, ophthalmic lasers, and light therapy, among others. The increasing number of technological advancement and medical treatments method is proving to add to the growth of the market.
An optical fiber system consists of various components such as an optical cable, transmitter, and receivers. The installation of the system is a labor-intensive task, especially in the case of underground and undersea installations. The high cost of acquisition, installation cost, and complex installation procedures are the major restraining factors of the market.
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