Demand for optical fiber continues to grow and the market will expand further in the future
Subordinate Classification：News CenterRelease Time：2017-08-30
Analysts at Market Research Institute forecast that 2017-2021 years, the global optical fiber market will be compound annual growth rate of 11.45%. A major trend in the market is the emerging cloud computing. Cloud is a virtual remote data center, without any infrastructure costs, can store, manage and retrieve data or resources. Clouds can be divided into three categories: public, private, and mixed.
Another major driver of the market is the growing demand for enhanced network bandwidth. The growth of Internet bandwidth is affected by many factors, such as the increase in disruptive technology, which helps to change bandwidth usage according to the use of networks and mobile computing devices. The main driver of the smartphone industry is the deployment of next-generation wireless networks, such as 3G, 4G and 5G, because these technologies offer wireless connections that are equivalent to home broadband connections. In addition, the increasing popularity of smart phones, increasing network traffic, but also to promote market development.
An optical fiber is an elastic transparent fiber made of drawn glass or plastic, used for light transmission at both ends of an optical fiber. Products are widely used in optical fiber communications, allowing longer distances and higher bandwidth than wires and cables. Instead of using metal wires, the use of fiber optic cables enables signals to be transmitted with less loss.
According to a new report by market research firm Zion market research, the value of the global optical fiber market will increase from $2 billion 750 million in 2016 to $3 billion 720 million in 2022, with a CAGR of just over 5.2% during the year.
The main factors contributing to the growth of the optical fiber market are the growing demand for fiber in various fields, such as telecommunications, private data networks and others. Growth demand for high-speed Internet is also stimulating demand in the optical fiber market. However, the high cost of raw materials and complex manufacturing processes are inhibiting market growth. Over the next few years, the growth of remote sensing technology that allows data transfer without physical media will further boost the market.
By 2022, North America and Europe are expected to show steady growth. In view of the increasing use of new telecommunications technologies, such as fiber access applications and 4G mobility, the Asia Pacific region is expected to show significant growth. Therefore, due to the increased use of 3G/4G data, the Asia Pacific network operators will continue to grow in demand for fiber.
An important supplier of global fiber market including Prysmian, Australia, Finolex cable, optical fiber communication industry, Corelle, Street, optical fiber and cable Fujikura ltd.. High initial investment and maintenance costs will limit the entry of new participants into the market.