The global fiber optics market should reach $5.0 billion by 2022 from $3.2 billion in 2017 at a compound annual growth rate (CAGR) of 9.4%, from 2017 to 2022.
The global fiber optics market is expected to grow at a CAGR of over 9% and reach nearly US$ 5 billion in revenues by the end of 2022, according to a new research report added to the repository of Market Research Hub (MRH). The report titled “The Fiber Optics Market: Glass, Plastic, and Alternatives” offers in-depth analysis and insights on the key developments that are likely to impact market growth during the assessment period.
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According to the report, demand for glass, plastics and other fiber optics is growing at a steady pace owing to pervasiveness of digitalization around the globe. Numerous industries around the world have completely shunned their offline models and are now serving their end-users through an online medium.
The need for high-speed internet has witnessed a spike, and this has fuelled the sales of fiber optics. Advancements in high speed internet and need of end-users to handle high volume data are likely to fuel demand during the assessment period.
In addition to demand from traditional industries, sales are also growing in new industries such as healthcare and automotive. In the healthcare industry, fiber optic sensors are witnessing demand owing to their application in surgical instrumentation and therapeutic procedures.
In addition to the above factors, the report also discusses the key drivers, restraints, opportunities, and threats that are likely to impact market growth during the assessment period.
In a bid to give readers detailed insights on the fiber optics market, the report has segmented the market on the basis of glass optical fiber and plastic optical fiber. By material, the key segments include glass and plastic.
An in-depth analysis on the key application segments of fiber optics has also been offered in the report. The key application segments include telecom, healthcare, manufacturing, BFSI, and surveillance & security.
The key regions covered in the report include North America, Asia Pacific, Europe, and Rest of the World. All the major patents pertaining to fiber optics in these key regions have been discussed in the report.
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The report also offers detailed analysis on the competitive landscape in the global fiber optics market. The product and business strategies of key players have been discussed in detail in the report.
Some of the key companies profiled in the report include ABB, General Cable Corp., Asahi Glass, Leoni AG, Amphenol, Finisar Corp., Corning, Molex, Nexans, Yazaki Corp., and Mitsubishi Rayon.
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