Fiber Optics Market worth 5.00 Billion USD by 2021 | Key Players include Corning Inc., Prysmian Group, AFL Global, Finisar Corporation, Leoni AG, YOFC Co. Ltd., Sumitomo Electric Industries Ltd., Furukawa Electric Co., Ltd., Optical Cable Corporation, and

According to recent research "Fiber Optics Market by Cable Type (Single mode, and Multi-mode), Optical Fiber Type (Glass and Plastics), Application (Telecom, Premises, Utility, CATV, Military, Industrial, Sensors, Fiber Optic Lighting, Security, Metropolitan) - Global Forecast to 2021", published by MarketsandMarkets™, The global fiber optics market was estimated to be valued at USD 3.13 Billion in 2016 and is projected to reach USD 5.00 Billion by 2021, at a CAGR of 9.8%.

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The global fiber optics market was estimated to be valued at USD 3.13 billion in 2016 and is projected to reach USD 5.00 billion by 2021 at a CAGR of 9.8%. The market is expected to be mostly driven by the increasing Internet applications of fiber optics such as video streaming, Over-The-Top Content (OTT), and the Internet of Things (IoT). Rising quality standards in optical fiber cable manufacture and advances in technologies are also supporting the growth of the fiber optics market.

The fiber optics market has been classified into two key segments, namely, single mode and multi-mode, on the basis of cable type. The market for the single mode cable type is expected to account for the largest and fastest growing cable type from 2016 to 2021. The single mode cable has a higher transmission rate that can cover longer distances, due to which, it is used in applications such as CATV and telecom, which requires transmission over long distances along with high speed and a low attenuation rate.

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New product developments, expansions, and mergers & acquisitions are the key strategies that have been adopted by the major fiber optics manufacturers in the recent past. The top players in the fiber optics market are adopting these strategies for better penetration and expansions of their businesses into the untapped and emerging regions. These new ventures are expected to help the companies to satiate the growing demand for fiber optics in several applications. Corning Inc. (U.S.) and AFL Global (U.S.) are among the market players who adopted the new product launches strategy in order to acquire a greater market share by supplying products for various end-use applications.

The global fiber optics market has a large number of market players; however the market is led by some of the major players, such as Corning Incorporated (U.S.), Prysmian Group (Italy), AFL Global (U.S.), Finisar Corporation (U.S.), Leoni AG (Germany), YOFC (Shanghai) Co. Ltd. (China), Sumitomo Electric Industries Ltd. (Japan), Furukawa Electric Co., Ltd. (Japan), Optical Cable Corporation (U.S.), and Hitachi Cable, Ltd (Japan), among others.

Most of these companies are leaders in the manufacture of fiber optics and its equipment. These companies are focused on the new product launches and mergers & acquisitions strategies to achieve economies of scale, product innovations, and expansions in order to capture and strengthen their market shares.

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Corning Inc. (U.S.) is amongst the leading suppliers of fiber optics equipment. The company adopted strategies such as new product launches and mergers & acquisitions to maintain its premium position in the market. For instance, it completed the acquisition of Samsung Electronics (South Korea) to expand its market in the Asia-Pacific, in November 2015.

Similarly AFL Global (U.S.), a subsidiary of Fujikura Global (Japan) is also amongst the leading players in the fiber optics market. It has sustained its market position by launching new and innovative fiber optics solutions across various locations. For instance, it launched a series of new fiber optics based products under the brand name, Micro-Tactical Cables which are designed to withstand high tensile loads, crushing forces, repeated impacts, and extreme temperatures.

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