According to a new report by market research firm Zion, the value of the global fiber market will increase from $ 2.75 billion in 2016 to $ 3.72 billion in 2022, with annual compound growth rates slightly above 5.2%.
The optical fiber is a flexible transparent fiber made of towed glass or plastic for optical transmission at both ends of the fiber. Products are widely used in optical fiber communication, allowing longer transmission distance and higher bandwidth than the wire and cable . Instead of using metal wires, the use of fiber optic cables can make the signal transmit with less loss.
The main driver of the growth of the fiber market is the growing demand for fiber in various fields, such as telecommunications, private data networks and others. The demand for high-speed Internet growth is also stimulating the demand for the fiber market. However, the high cost of raw materials and complex manufacturing processes are curbing market growth. Over the next few years, the growing demand for remote sensing technology that allows non-physical media data transmission will drive further market growth.
By 2022, North America and Europe are expected to show steady growth. Taking into account the new use of telecommunications technologies, such as fiber access applications and 4G mobile use, the Asia-Pacific region is expected to show significant growth. Therefore, due to the increased use of 3G / 4G data, Asia-Pacific network operators demand for fiber will continue to grow.
Important suppliers of the global optical fiber market include Prysmian, Australia Optical Fiber Communication, Finolex Cable, Streete Industry, Corning Corporation, Fly Fly Fiber Cable, Japan Fujikura Company and so on. The high initial investment and maintenance costs will limit the participation of new entrants into the market.