Fiber optics market value estimated to be $3.0 billion by 2019
15 December 2014 | Reading Time: < 1 minute
‘The Future of the Fiber Market is Bright’
According to the September 2014 fiber optics market by application report, the future of fiber is bright.
Detailing the current shifts in demand for fiber technology and predicting its growth over the next five years, it is estimated that the fiber optics market will likely be worth $3.0 billion by 2019.
How Fiber is Changing
Defining the layout of the global fiber market by application (for example; cable television, telecom & broadband, utilities, oil & gas, military etc) and by region (North America, Asia-Pacific, Europe and RoW), the report analysed submarket trends, revealing numerous statistics:
- In 2013, the North American, Asia-Pacific and European regions accounted for more that 90% of the value of the fiber optics market.
- The fiber market in Asia is growing, partly due to government directives encouraging broadband applications. As demand for 3G and 4G grows, this region is expected to see the fastest growth by 2019.
- China is the greatest global consumer of fiber optic products, however the USA is the largest fiber consumer in the world.
- Regarding fiber application, telecoms and broadband offer greatest value, of 55.3% in 2013. By 2019, fast growth is expected to come from applications such as oil and gas, telecom and broadband, utilities and private data networks.
- The overall value of the fiber optics market is expected to be $3.0 billion by 2019.
Information courtesy of WhaTech and the Fiber Optics Market by Application report 2014.