(IT-NEWSWIRE.COM, May 14, 2019 ) The report "Fiber Optics Market by Cable Type (Single mode, and Multi-mode), Optical Fiber Type (Glass and Plastics), Application (Telecom, Premises, Utility, CATV, Military, Industrial, Sensors, Fiber Optic Lighting, Security, Metropolitan) - Global Forecast to 2021", published by MarketsandMarkets, the global market was estimated to be valued at USD 3.13 Billion in 2016 and is projected to reach USD 5.00 Billion by 2021, at a CAGR of 9.8%.
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Rising end-use applications such as telecom, CATV, premises, and sensors are driving the market for fiber optics. Along with these, increasing demand from Internet applications such the Internet of Things, over-the-top content, and video streaming are also driving the market.
Cable Antenna Television (CATV) segment to be the fastest growing market for fiber optics
The CATV segment is projected to be the fastest growing application from 2016 to 2021, owing to its rapid growth in the Asia-Pacific. Factors such as rising disposable incomes; changing consumer preferences towards the use of high definition content; flexible government taxation policies; rapid technological advancements in products & product offerings, by major international and domestic players, at competitive prices; are a few of the major factors driving the market for the CATV application.
Single mode cable type projected to account for the largest market share
Single mode optical fiber is estimated to have accounted for the largest market share in 2016 and is projected to continue to lead throughout the forecast period. Efforts to increase the penetration of telecom services in the emerging nations of the Asia-Pacific are attributed to the increasing demand for single mode cable in the region.
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Browse in-depth TOC on "Fiber Optics Market"
69 - Market Data Tables
36 - Figures
137 - Pages
Glass optical fiber type to be the fastest growing optical fiber type in fiber optics market
Glass optical fiber type is projected to exhibit the fastest growth from 2016 to 2021. Factors such as rapidly expanding telecom applications in emerging economies, efforts being taken by governments of various economies to increase network connectivity, and changing consumer preferences are expected to drive the fiber optics market.
Asia-Pacific to be the largest market for fiber optics
The Asia-Pacific is projected to be the largest market for fiber optics from 2016 to 2021. Factors contributing to the market growth in this region are the rise in demand for the Internet from emerging countries, growing industrialization, and the growing telecom industry. These factors, along with the upcoming infrastructure projects in energy, transport networks, institutional sites, and residential projects are expected to drive the fiber optics market across various applications in the region. Large-scale investments along with the increasing standards of living provide opportunities for infrastructure development and are thus expected to lead to the high growth of the fiber optics market.
The global Fiber Optics Market has a large number of players; however the market is led by some of the major players, such as Corning Inc. (U.S.), Prysmian Group (Italy), AFL Global (U.S.), Finisar Corporation (U.S.), Leoni AG (Germany), YOFC (Shanghai) Co. Ltd. (China), Sumitomo Electric Industries Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Optical Cable Corporation (U.S.), and Hitachi Cable Ltd. (Japan), among others.
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