Fiber Optic Market Growth
The Future of Fiber Optic Looks Good
The fiber optic market is expected to continue to grow through the coming years. In fact, by 2026, Acumen Research and Consulting predicts fiber optic market growth to appreciate to 9.2 billion USD. With the increasing demand for better speeds throughout the U.S., the market is expected to see a 19.1% compound annual growth rate through 2026. The overall technology market’s growth helps the fiber optic market meet the needs of a growing demand for reliable internet and data speed.
Top Fiber Benefits
Coaxial cables and copper cables currently meet the technology needs of most businesses and homeowners. However, those cables degrade over time, are affected by electromagnetic pulses, conduct electricity, and pose a fire hazard. Fiber optic cables download videos, files, and images much faster than broadband. Businesses have less downtime and homeowners can stream more data at a faster rate. Fiber optic market growth relies on companies installing multiple types of fiber cables to meet the needs of their customers. The panels the cables connect to create multiple connections, which allow for easy growth for businesses and homeowners as the network continues to grow.
Meeting Technology Demands
As people move away from cable, the need for reliable, fast internet is becoming increasingly necessary. Providers such as Netflix and Hulu are helping grow the future of the fiber optic market by relying on the internet to deliver content to consumers. Businesses are changing their work models to allow employees to work from home and they are also hiring freelance and contract workers to fill in their employee gaps. Not only do businesses need faster speeds, but so do their employees in their homes or workspaces.
Information Traffic Growth
More and more people are now operating multiple devices that rely on the internet. Computers are not the only devices downloading data from the internet. Tablets, smartphones, and e-readers depend on the network to deliver content whether individuals are at home, at work, or at other locations. The growth in the reliance on devices sparks fiber optic market growth. The number of devices regularly used in classrooms, businesses, and homes is not expected to slow down any time soon. That demand necessitates increased use of fiber optic cables. The speed reliability and connectivity help those devices perform as designed.
Information Technology Companies
Software, hardware, and service providers in the information technology market account for some of the fiber optic market growth. These companies rely on the vast infrastructure of fiber optic cables being built to quickly expand and build their companies. The technology market currently sees a lot of internal competition around the world. These companies merge, acquire, and expand into other markets. Expanding their portfolios means taking advantage of the new technology available in fiber optics. Creating innovative products often means requiring improved download speeds and a reliable network infrastructure to deliver the performance the products tout.
Fiber Optic Companies
Fiber optic companies tend to work with a specific type of preform fiber such as MCVD, VAD, OVD or PCVD. Each of these companies focuses on a specific application for their plastic optical fiber optic, single-mode fiber optic or multi-mode fiber optic. The global marketplace segregates into different industries such as medical; military and aerospace; railway; oil and gas; banking, financial services and insurance (BFSI); and telecom. There is a need for these companies to step in and meet the growing demands for a solid fiber optic network infrastructure and manufacturing of the necessary cables and components that make it all possible. The supply and demand for fiber optics may end up with a gap due to the increased demand and current limited supply.
The future of the fiber optic market growth looks good. Fiber optic companies can bring businesses and homeowners up-to-date with fast, reliable data speeds. The changes in the technology market mean more opportunities for fiber optics to step in and deliver what copper cables and coaxial cables cannot.
See our last blog post: Fiber Optics And Telecom Solutions
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