Optic Fiber Components Market to be Worth $31.3 Billion by 2015

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Optic Fiber cables production to go up to 204 million kilometers by 2017

Optic-Fiber-cables-MarketA slightly thicker material than human hair, fiber element made of plastic or silica (extruded glass) which is transparent and elastic is commonly famous as Optical Fiber Cables. Optical fibers are vastly used for optical fiber communication which performs better in transmission for longer distance at a higher bandwidth rates than what is possible using wires. In order to understand the present market, one needs to go back to its origins which started in 1970. This is the year when scientists from Coming Inc. invented the world’s first commercial fiber optic; later in 1976 AT&T entered into a cross licensing agreement with the company in order to jointly use the invention and its surrounding technology.

Today the global optical fiber industry has expanded and is ready to grow at a CAGR of 7% annually in the Asian Pacific regions alone. Moreover, the technology is faster and much simpler which has surely changed the data transmission methods globally. The industry is sorted to grow to a value $31.3 billion by 2015. Experts from the industry are estimating a higher increase as there is a growing shift towards the fiber optics data transmission from the traditional copper wires communication system.

Growing demands for technologies such as 3G and beyond is becoming popular and the competition is increasing constantly and in turn there are several attractive packages from the service providers entering the market. Developments in the telecommunication industry is directly connected to optical fiber sales as most of the telecommunication companies are completing making use of these cables and its other components.

According to a market research for the industry, developed nations such as US and regions of Europe and Asia Pacific represent the big markets driving growths for the sector. The optical fiber industry is projected to go through a “V shaped” recovery and maintain an overall upsurge after the downslide period up to 2011 which was the global economic depression.

Countries in the Western European region, US and Asia Pacific will continue the growth their respective markets. North America, Japan and Western Europe, China along India from the Asian region will make up the largest markets for the sector in the years to come.