Optical Fiber Preform Market Revenue, Top Players, Business Opportunities and Industry Forecast till 2023
“The market is driven by the increase in demand for higher bandwidth and comparatively faster speed connections for multiple residential and industrial applications. Hence, fiber optic transmission is gaining attraction by several industries at a good pace.�
Global optical fiber preform market is expected to grow significantly in the forecast period owing to the increasing and developing telecommunication industry. Optical fibers are a medium for networking and telecommunication. It is transparent and flexible light pipe that transmits light between the ends of the fiber. A fiber optic system comprises three major components; fiber optic cable, optical transmitter, and optical receiver. Optical fiber preform is an essential element in cable and optical fiber industry. PRC claims the highest mobile phone penetration rate on the global scale, with extensive number of internet connections established through mobile devices. Hence, such strong dependence on smartphone connections is anticipated to drive optical fiber preform market. Also, along with the large deployment scale of gigabyte network, global demand for optical cable and fiber is accelerating the demand, which ultimately boosts the market growth. The market is also driven by the increase in demand for higher bandwidth and comparatively faster speed connections for multiple residential and industrial applications. Hence, fiber optic transmission is gaining attraction by several industries at a good pace. However, high cost of optical fibers are restraining the market growth. The prevalent market participants are focusing on exquisite competition and speedy innovations in devices. These trends are expected to affect the growth of the market in the near future. Most market players are focusing on acquisition strategy for expanding their reach by offering quality products worldwide. Moreover, advent of new products is expected to intensify the market competition. Hence, strategic alliances are being adopted by leading players for (NPD) new product development and creating strong market presence.