Fiber optics uses the fibers of glass or such other materials in order to transmit data, messages or sound from one place to the other. The use and demand for these fibers has grown since the past few years, mainly because of the progress of the global telecommunication sector. Rapid rise in applications is attributed to the rising demand in the fiber optics market in the coming years. Technological advancements are expected to play essential role in the overall growth of the industry. Apart from that, strong demand from Asia Pacific and other emerging markets is also expected to create potential growth opportunities for the key players it the market. Hefty investments of potential investors in this market are also considered to be vital for the progress of the market in near future.
In order to understand the basic trends, drivers, restraints and opportunities in the market, researchers segment it on the basis of the vital components. These components in the fiber optics market include the applications and geographic regions. The types of applications in the market are categorized into telecommunication and broadband, private data networks, oil and gas, cable television and such other applications. On the basis of the geographic regions of the world, the global industry is categorized into Europe, Asia Pacific, North America and rest of the world. The market is further divided on the basis of the vital countries in the industry. Analysis of all these segments provides details about the growth trends and investment opportunities for the existing and potential players in the market.
According to the experts, the fiber optics market is mainly driven by the strong rise in demand from around the world. This demand is triggered by different elements like technological advancements, overall growth in the telecommunication sector and growing applications of fiber optics. Strong growth opportunities from the regions like Asia Pacific and other such emerging regions are also set to drive the market in the years to come. Growth in the end-user industries in this region are set to drive the demand for the market in this part of the world. As a result, experts are anticipating steady growth for the market.
From 2014 to 2019, the fiber optics market is expected to grow at a steady CAGR of over 5% to become worth more than $3 billion by 2019. Telecommunication and broadband segment contributed to an estimated 55% of the global market in terms of value. Aspiring opportunities for 3G and 4G technologies in the emerging market are expected to play vital role in the development of this market.