Increasing investment in the information technology and telecommunication sector is expected to drive the global fiber optics market over the forecast period. New projects and developments in developing and developed countries are also expected to fuel market growth over the forecast period. Increased internet penetration and usage primarily due to increasing social media adoption is further expected to drive the fiber optics market growth. Advancements in communication technology and emergence of 3G/4G mobile network and the metropolitan area network are also expected to impel market demand in developing regions.
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Fiber optics supports remote sensing technique that does not require any physical medium to transmit data, and thereby helps to reduce wear & tear of fiber materials. This enables transmission of data over the regions not reachable using traditional technology. Increased efforts in developed countries, such as the U.S., Japan, and Germany to build Fiber To-The-Node (FTTN) and Fiber-To-The-Home (FTTH) networks are expected to drive the global fiber optics market over the next few years. Concerns and awareness regarding security and safety associated with the usage of new sophisticated technology are also expected to favorably impact the fiber optics market growth over the forecast period.
High manufacturing, installation, and operational costs pose threat to the fiber optics market. The complex installation process is one of the major challenges in this market. Further, the complex procedure involved in splicing of the ends, while connecting the optic fibers to one another and the installation of repeaters are also expected to hinder market growth.
Depleting raw material resources and rising prices are also expected to hamper the fiber optics market demand. However, usage of alternate and cost-efficient raw materials is expected to lower the operating costs, thereby driving the fiber optics market growth over the next few years. The installation of highly expensive machinery to manufacture fiber optics poses to be a major entry barrier for the new entrants
Key market participants include Fujikura Limited, Corning Inc., Cisco Systems Inc., Nortel Networks Corporation, Sterlite Technologies Limited, 3M Company, Redback Networks Inc., United Fiber Optic Communication Inc., Prysmian SpA, and Yangtze Optical Fiber and Cable Co. Ltd.
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