Continued Growth in the US and Global Fiber Optics Market
The growth of fiber optics in the US and global market place shows no sign of slowing. Telecommunications and data center enterprises are increasingly turning to fiber as the material of choice for cabling due to its superior performance, cost-effectiveness, durable construction, and scalability. As economies around the globe become digitized, fiber optics are leveraged to bring internet and wireless communications to consumers. Researchers estimate that by 2025 the US fiber market will top $3.56 billion, with the global fiber optics market experiencing annual growth of 5.2% by 2022. Driving this impressive growth is an expanding number of applications for using fiber optics.
While the use of fiber optics for telecommunications and internet connectivity is well known, those are just two applications for the versatile cabling material. Fiber is incredibly robust and has the ability to withstand high pressure and temperature changes making it ideal for use in the oil & gas industry. Militaries and satellites depend on fiber for remote sensing applications. It is also integrated in laser delivery systems, equipment interconnection, and light conductors utilized by operators in the medical space. Forecasters anticipate that between 2017 and 2021 the global distributed fiber optics sensing market will experience a compound annual growth rate of 8.55%.
Fiber Optic Security Systems Market
High value and sensitive physical sites have long been targets for theft and terrorism. To lower the risk of intrusion, a fiber optic perimeter security system is a way of augmenting securing and monitoring these sites. The system is suitable for both commercial and residential use, and reduces human labor requirements when compared to traditional perimeter security systems. Researchers predict North America will capture the largest share of the growing fiber optic perimeter security market.
The amount of applications using fiber is prompting fiber optics manufacturers to release industry-specific products capable of meeting the specific demands of enterprise customers. Experts predict that industrial usage will emerge as the fastest growing segment, while the cable installers segment will grab the highest market share with home and building connectivity dominating the fiber space. As residential homes become more connected and transform into smart homes, demand for fiber optics will only propel higher. Government initiatives to bring connectivity to underserved areas is also expected to contribute to fiber proliferation.
Institutional investors are finding that there are numerous opportunities to take part in the booming fiber optics market. At Fiberguide, we’re helping meet the growing demand by manufacturing efficient, cost-effective and customizable fiber optic solutions for OEM manufacturers. Take the time to learn about our cutting-edge innovations.
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