Some of the major players operating in the optical fiber market are Fujikura Ltd., Prysmian Group, Tata Communications, Nexans S.A., Corning Inc., General Cable Corporation, Sumitomo Electric Industries, Ltd., Commonscope, Inc., Furukawa Electric Co., Ltd., and Furukawa Electric Co. Ltd. among others.
With the advancement of the semiconductor industry, there has been a tremendous increase in demand for more efficient production of communication devices to meet the requirement. In the recent years, copper wires has been replaced by the fiber optics, as one of the appropriate communication link for the transmission of data and signal. Optical fiber or the fiber optics transmits the data in the form of photons or the light particles. In other words, optical fiber is a technology that utilizes light to carry data communication over a long distance. Optical fiber is a transparent, flexible strand of pure glass transmits light between two ends of the fiber. The optical fiber consists of the core that is surrounded by the cladding layer, which is made up of the dielectric material. Optical fibers are mostly used for the long distance communications however; sometimes they are also used for short distances.
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A huge amount of data is easily transmitted through the fiber optics that is not interfered by the electric and magnetic fields. Optical fibers are mostly used in the communication and networking industry. Military and space industries also use the optical fiber for means of communication, due to its ability to offer the temperature sensing. Also on of the major application of fiber optics is in medical instruments to provide precise illumination. It enables biomedical sensors to assist in the minimization of invasive medical procedures. Other medical applications for fiber optics include X-ray imaging, endoscopy, light therapy and surgical microscopy.
The major driver that drives the Optical fiber market is the increasing adoption of FTTX (fiber topologies from telecom service to the customer), rising use of internet of things (IoT). The other benefits offered by optical fiber includes reliability, high bandwidth, low power loss and preferable to long distance communication. One of the major restraints that restricts the growth of the optical fiber market is the high cost of installation and the increasing adoption of wireless communication. However, the future opportunities such as advancement in the technologies in the optical fiber technology and the increasing expenditure in the optical fiber technology is expected to contribute to the growth of the optical fiber market.
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Optical fiber market is segmented into type, material type, industry and geography. Optical fiber market based on type can be segmented into multimode fiber and single mode fiber. Further, the multimode fiber is segmented into step index multimode fiber and graded index multimode fiber. Based on material type, the optical fiber market is segmented into plastic optical fiber and glass optical fiber. Based on industry, the Optical fiber is segmented into telecommunication, aerospace & defense, healthcare, energy & utilities, and others. Optical fiber market is also segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America market is expected to have a significant market share due to the already developed technologies, followed by the Europe. Asia Pacific market is expected to grow with the significant growth rate, due to the emerging economies such as China, India and Japan.