DALLAS, USA: According to the new research report "Fiber Optics Market by Application (Telecom & Broadband, Oil & Gas, Utilities, Private Data Networks, Cable Television, Military/Aerospace, and Others) - Global Trends & Forecasts to 2019", defines and segments the global fiber optics market with an analysis and forecast by region and application by value.
Asia-Pacific, North America, and Europe dominated the fiber optics market in 2013, and accounted for over 90 percent of the market size in terms of value. The Asia-Pacific fiber optic market is currently at a growing stage. Government directives intended to increase and encourage national broadband applications which are among the main drivers of the market.
Country-wise, China is the top most consumer of fiber optics product, globally and is also the largest market for fiber optics products growing at a CAGR higher than the global average till 2019.
The US is the largest fiber optics consumer in the world. Asia-Pacific is expected to witness the fastest growth rate by 2019. The market in Asia-Pacific region is experiencing increasing growth because of fiber optics demand arising from the use of 3G and 4G and growth in the information technology and telecommunication industry.