Market Size And Development
Market research valued the global fiber optical market at $7578 million back in 2019 and is now predicted to grow as much as $16390.6 million by 2025 with a CAGR of 14.5% in the forecast period of 2020-2025. The increased growth in the market is mainly due to the demand for FTTX. The optical fibers are getting smaller thanks to the technological developments in the telecommunication industry.
Earlier, the submarine cables were also predicted to grow by 50% in 2019 compared to the previous year. Currently, there are 350 submarine cables covering 1.2 million kilometres connecting approximately 10 countries.
The COVID-19 virus has made its presence in industries worldwide, and the optical fiber industry is also not immune to its devastating effects. Also, Wuhan is home to the biggest fiber optics companies, which amount to 25% of the production may not be favourable to the industry.
The key growth drivers are technological developments when it comes to fiber optics. And the most crucial advancement that is driving the industry currently is the loT, which facilitates the electronic devices to communicate via the Internet. loT is spreading rapidly worldwide, and pretty much the only way to make this happen is through Data Integration. It also requires clutter-free internet, which is obtained only via fiber optics.
Another advancement that is growing by leaps and bounds is cloud computing. Recent studies claim that one in three enterprises have moved to the cloud due to its security features and its accessibility. This has increased the need for uninterrupted, reliable internet accessibility, which is achieved by fiber optics.
Also, the change in working conditions due to COVID-19 has driven up the need for faster internet connections and higher bandwidth.
Fiber Optic Market Drivers
North America currently dominated the single-mode optical fiber market due to it adopting the advanced technology quite early in its conception. Meanwhile, the Asia-Pacific market is quite behind and is forecasted to pick up in the forecast period of 2020-2025. This is mostly due to the small cities and urban areas catching up to the latest technologies.
The market is predicted to grow more on account of the introduction of 5G networks across the globe. The growing demand for single-demand optical fiber may also create a deficit of fiber, which can cause an increase in cost.
Structure And Operation Of Fiber Optic Systems
For the transfer of data in enormous amounts, say gigabytes, and beyond, the only answer is fiber optics. With optical fiber, you can transmit data, audio, video, telemetry, and more. It uses lightwave technology to relay data by converting the electrical signals to light. There are three essential components in a fiber-optic system.
- Compact Light Source
- Optical Fiber
- Photo Detector
The light source can be a LED or a laser diode. The former is used for short distances due to its low bandwidth. For long distances, laser diodes are the better option because of their high power and high speed.
Fiber Optic Market Segmentation
The global optical fiber market is segmented based on the end-user, type, and component. Segregation based on the type has been further differentiated into intrinsic and extrinsic optical fibers. The segmentation based on the element is further segregated into transmitters, receivers, amplifiers, optical fiber cables, and more. Finally, the end-user can be consumers such as defence, medical, transportation, industrial, energy, power, and more.
Applications Of Fiber Optics
Optical fiber has its application in many industries since the transmission speed is very high. And also since it is free from electrical and magnetic interference. The cost is too low, in fact, lower than aluminum cables. One of the most critical applications is data transmission. Here the data is converted to an electronic signal and then into a light signal, which is then transmitted through the cables.
The data transfer also plays a vital role in the telecommunication system due to its high speed, lightweight, high bandwidth, and high accuracy. Apart from that, it also finds its space in military communication, networking, broadcasting, medical and light distribution.
Strategic Planning For The Creation Of Fiber Optic Systems
Planning of a fiber optic system takes place in various stages, starting with determining the kind of communication, the layout, the required equipment, and also the fiber network to which the entire infrastructure will be connected. The fiber-optic network will also interface with other networks, which may be connected via copper cables or sometimes wireless. Hence, they should also be taken into account.
In the planning stage, you also need to consider the permits, inspections, and permissions. The design stage is also quite important since it is where you finalize the costs, the technical aspects, and even the business part.