Growth in IT & Telecommunication industry in the Global Optical Fiber Preform Market during the forecast period

Growing demand for high-bandwidth Internet connectivity and growing opportunities in the telecommunications sector are the major factors driving the Global Optical Fiber Preform Market during the forecast period.

Fiber optic preforms are flexible, and transparent fiber tows used in the manufacturing of optical fibers. This is the backbone of fiber optic cable. Optical fibers are made of high-quality glass, plastic, and silicon dioxide and work on the principle of total internal reflection of light.

The prevalence of tablets, smart gadgets, personal computers, smartphones, and other small consumer electronics has boosted information traffic and market revenue. This technological advancement is expected to be facilitated by the introduction of 5th generation optical fiber based on the conceptual optical solution of Dense Wavelength Division Multiplexing (DWDM), opening up new avenues for the optical fiber preform business. Leading manufacturers in the fiber optic preform market are taking steps to improve the overall energy efficiency and performance of their fiber optic preforms to meet the growing demand for this component in teleconferencing and mobile computing devices. To address electronic bottlenecks at the network edge, metropolitan area networks are increasingly being built using optical technology. For the automotive, industrial and defense industries, the fiber optic preform market offers some attractive options. Fiber optic preforms are used for vehicle connectivity and interconnectivity, autonomous driving, and sensor integration.

Increasing demand for high-bandwidth communications and rapid upgrades and installations of fiber-rich network infrastructure are the main drivers of fiber optics and drive the preform market. Moreover, the demand for fiber optic cables is increasing as a significant increase in data traffic is expected to further stimulate the demand for optical fiber preform market. The rising popularity of high-speed internet bandwidth connections is driving the growth of the optical fiber preform market.

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The Global Optical Fiber Preform Market is segmented into Type, Technology, Application, Regional Distribution and Competitive Landscape. Based on Application, the market is segmented into IT and Telecommunication, Oil and Gas, Military and Aerospace, BFSI, Healthcare & Others. IT and Telecommunication segment is expected to dominate the market in the forecast period. This can be attributed to the invention of 5G along with devices such as smart phones, tabs, desktops or laptops. Moreover, every job whether field or desk job has the use of these devices, giving rise to the number of internet users. With the rise in population, increase in urbanization, and rise in disposable income, the number of internet users is expected to increase with time. Post covid, consumer behavior has changed drastically, which has made consumers shift to online platforms, thus giving rise to internet users. Technology has been a major reason as why governments all over the world are trying to provide fast internet speed in almost every area of their jurisdiction.

Based on region, the market is segmented into APAC, North America, Europe, South America, MEA. APAC region is expected to dominate the market in the forecast period. APAC has a significant amount of the population. Countries such as India, China, Japan, and Australia have many MNC’s with large job opportunities. This region also has the tendency to build infrastructure for a technology whenever it is rolled out, thus giving feedback to others as to why that technology can work or not. This growth is underpinned by factors such as increased investment in information and communication technology (ICT) infrastructure, increased adoption of advanced network solutions, and increased interest in product innovation. APAC region is also home to many branches of MNC’s as it holds a fair amount of the population of the world. APAC also has several optical fiber manufacturing hubs.

Key market players in the Global Optical Fiber Preform Market include: -

• Hengtong Group Co Ltd
• Fujikura Ltd
• Furukawa Electric Co Ltd
• Sterlite Technologies Limited
• Yangtze Optical Fibre and Cable Joint Stock Limited Company
• Sumitomo Electric Industries, Ltd
• Prysmian Group
• Heraeus Holding
• Corning Incorporated
• OFS Fitel, LLC
  
  

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"APAC holds the key to the growth of Global Optical Fiber Preform market. Rise in population and disposable income has a major reason as to why APAC region dominated the market. Increasing number of IT hubs has made this region important. IT & Telecommunication sector is expected to dominate the market due to rising demand of computer, laptop and mobile phones, especially after 2020.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Optical Fiber Preform Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type, (Single Mode Fiber Optic, Multi-Mode Fiber Optic, Plastic Optical Fiber Optic), By Technology (OVD, VAD, PCVD, MCVD), By Application (IT and Telecommunication, Oil and Gas, Military and Aerospace, BFSI, Healthcare & Others), By Region,” has evaluated the future growth potential of Global Optical Fiber Preform Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Optical Fiber Preform Market.

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