The global optical fiber market is growing strongly with one recent study published by Allied Market Research, suggesting a CAGR of 11.6% between 2018 and 2025. This would take the value from $3,477 million to $8,153 million. Chief among the factors underpinning this growth are the: widespread implementation of 5G, from 2020; an increase in the adoption of fiber to the home (FTTH) connectivity; and the emergence of internet of things (IoT). The International Telecommunications Union (ITU) estimates the market for IoT devices generating over $1.7 trillion by 2019.