Press Release / Technology / Fiber Optic Market is Growing Phenomenally By 2023 With A Whooping CAGR

Fiber Optic Market is Growing Phenomenally By 2023 With A Whooping CAGR

Fiber Optic Market - Overview:

Fiber Optic is the cable that uses the glass thread inside an insulated framework and this cable has the ability to send data using lighted lenses released by small lasers over the long distances. The fiber optics market has huge demand in network and telecommunication industry. The ordinary cables are not able to deliver data over the long distances. Therefore services like local area network, internet technology, landline phones, and television are using this fiber optics cable as they travel long distance with the great speed.

Accrediting the accruals and the traction the Fiber Optic Market is gaining currently, the Market Research Future, has recently published a meticulous study report accentuating the market insights up till the year 2023 and letting out the potential strategies of industry players after a careful consideration of their past strategic moves. According to the MRFR’s analysis; the global fiber optic market is expected to grow at USD $6 billion and grow at CAGR of 10% during the forecast period 2017-2023.

Key Players

Some of the prominent players in the global fiber optic market: Optical Cable Corporation (U.S.), Sterlite Technologies (India), Fujikura Limited (Japan), Finolex Cable Limited (India), Ofs Fitel, Llc (U.S.), Prysmian Spa (Italy), Infinera Corporation (U.S.), Corning INC. (U.S.), Birla Furukawa Fibre Optics (India), AFC Group (Australia), Molex Incorporated (U.S.), Anixter International (U.S), Luna (U.S.), Avantes (U.S), Pepperl+Fuchs (Germany), Geokon, Incorporated (U.S.), L-com.com (U.S.), TE Connectivity (Switzerland), Extron Electronics (U.S.) and among others.

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Long-distance high bandwidth communication by optical fiber which is gaining demand in the fiber optic market. Fiber Optic offers high bandwidth which allows more data to be delivered as soon as possible. Other factor is due to the development of network infrastructure, the growth of the fiber optic market has increased rapidly.

Now a days the healthcare sector are using the fiber optic product such as endoscopic imaging applications and biomedical sensing applications. This is various factors boosting the growth of fiber optics market.

Fiber Optic Market Competitive analysis

The key players are focusing on improving their Fiber Optic Market performance and are expanding by acquiring promising companies in the fast-growing markets. Heavy investments are transpired in R&D sector from the major players which is in turn helping the market to grow. Apart from this, the world is transforming into the digital era. Different countries across the globe want to be part of this transformation. The government also talking major initiative for more installation of Fiber Optic cable.

Global Fiber optic market Regional Analysis

The regional analysis of fiber optic market is being studied for region such as Asia pacific (China, Japan, India), North America (U.S, Mexico, Canada), Europe (U.K, Germany) and Rest of the World. North America is one of the leading regions across the world in terms of market share. The fiber optic market in this region has a huge demand due to optic fibers use glass which is widely used for transmitting light over long distances, which is propelling the growth of fiber optics market. The fiber optic market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for fiber optic market is expected to be the highest CAGR in the coming years.

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Industry/ Innovation/Related News

5 December 2017- The city of Leesburg has announced the agreement with a broadband company to sell its fiber optics utility for $7.25 million, according to city spokesman Derek Hudson. City officials expect to close on the deal with Summit Broadband in January. Summit Broadband provides voice, video, data, high-speed internet phone and TV services to business and residential customers in central and southwest Florida, as well as ethernet.

4 December 2017 - The Santa Rosa-based Sonic are planning to expand its high-speed, fiber-optic internet service to East Bay homes and businesses, the internet provider announced Monday. The company, which previously placed fiber-optic cable in Sebastopol, Brentwood and parts of San Francisco, now is taking orders in such communities as Berkeley and Albany. The news also say there are chances that East Bay residents can sign up to request the service, which starts at $40 a month.

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