The growing demand for increased network bandwidth is the primary growth driver for fiber optics market. With the proliferation of mobile computing devices, such as smartphones, tablets, and wearables with new capabilities, and the emergence of disruptive technologies that shift the bandwidth usage, the need for fiber optics is envisaged to increase rapidly during the forecast period. The analysts forecast global fiber optics market to grow at a CAGR of 9.49% during the period 2016-2020.
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The global fiber optics market analysts have observed that in countries like the US, the optical telecom network has been able to provide an average internet connection speed of over 4Mbps. Due to the availability of such a fast connection, many vendors have been able to develop business models that are based on the availability of higher bandwidth and lesser latency. For instance, in August 2014, Samsung acquired SmartThings for $200 million to enter the US market for home automation.
Geographical Segmentation of the Fiber Optics Market
The APAC region currently dominates this market and is envisaged to grow at a steady CAGR of around 11% by 2020. The presence of leading companies, such as Furukawa Electric, Fujikura, and Yangtze optical fiber & cable, in this region, is a significant factor that will impel the prospects for fiber optics market growth in this region during the estimated period.
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Competitive Landscape and Key Vendors
The global fiber optics market is highly competitive owing to the strong position of the existing vendors. These companies have economies of scale and a huge geographical presence. The vendors that have access to extensive technical and financial resources will gain a competitive edge over their rivals as they have the capacity to cater to the world market.
The top vendors analyzed in fiber optics market are: AFC, Corning, Furukawa Electric, Fujikura, Optical Cable, Prysmian, Sterlite, and Yangtze Optical Fiber & Cable.
Further, the fiber optics market report states that one of the major challenges faced by vendors in the market is the high initial investment required to deploy optical networks.
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