Fiber Optics Market

Global Fiber Optics Market generated a revenue of USD 3,897 Million in 2019 and is forecast to expand at a CAGR of 9.4% during forecast period. The emerging need for a safe, high speed and scalable communication infrastructure network has bolstered the demand for optical fiber.

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Major Fiber Optics Market Drivers

The increasing application of fiber optics across military and defense industries for environmental sensing and monitoring, vehicle navigation, and transmitting radio signals, stands to be one of the major factors fueling the fiber optics market growth. In addition, the increasing demand for high bandwidth communication has bolstered the market growth. Growing research and development in fiber optics technology has resulted in various innovations, allowing a variety of applications in the oil and gas, utilities, medical, and defense sectors, which has opened avenue for the market. Moreover, the growing deployment of fiber optics in the medical industry including ophthalmic lasers, X-ray imaging, laboratory, and clinical diagnostics, surgical endoscopy and microscopy, surgical instrumentation, and light therapy has bolstered the fiber optics market share.

Further, the inclination towards optical fibers from copper cables owing to the remarkable advantages of fiber optic cables, which include cost-efficiency, data carrying capacities at faster rates, flexibility, and durability. The Fiber Optics market is propelled by several factors which include accelerating penetration of internet, increasing government allowances for the development of broadband infrastructure, and rising research investments by the companies to innovative new technology in the fiber optic to enable cost-savings. The advent of IoT and cloud computing has driven the need for higher bandwidth and better connectivity in workplaces and commercial office buildings. Fiber optics is considered the ideal solution as it provides a reliable, and secure connection among IoT devices.

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Fiber Type Segment Analysis

Glass optical fiber is forecast to witness a promising growth over the upcoming years, owing to their growing deployment in different industries. The enhanced performance and easy availability of glass fiber optics has driven the segment growth. The ability of glass fibers to withstand and adapt to more extreme temperatures will further strengthen the segment’s growth. Thus, the growing demand for glass fiber across different applications, easy availability, and high transmission capacity are some other factors proliferating the segment’s growth over the upcoming years.

Cable Type Segment Analysis

Multi-mode fiber optics are expected to witness a promising growth over the forecast period, owing to the higher-speed and bandwidth offered by fiber optics over short distances. Besides, the higher core diameter of multi-mode fiber optic cables offers several pathways and several wavelengths to be transmitted. The ability of multi-mode optical fiber to support the distances needed for enterprise and data centre networks at a reduced cost than single-mode fiber, which is predicted to expand the fiber optics market share.

Application Segment Analysis

Communication segment is anticipated to witness a faster CAGR over the upcoming years, owing to the expansion of utility, telecom, and industrial sector. Increasing adoption of technology in communication and data transmission services, is forecast to propel the market growth. Fiber optics offer a faster data transfer services across small and long-range communications, which is another factor fueling the market growth

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Regional Analysis

Asia Pacific is expected to dominate the fiber optics market over the upcoming years, owing to the increasing investment in research and development. Rapid industrialization and increasing infrastructural development has augmented the application of fiber optics across several applications in the region which include roads, electric power grid, pipelines, airports, and data centers, driving the market growth. Moreover, the fifth industrial revolution will propel the market growth.

North America is anticipated to witness a faster CAGR over the forecast period, because of the technological expansion and growing adoption of fiber optical across the government and telecommunication industry. The emerging need for a higher capacity network has persuaded companies to opt for fixed telephony and mobile services, propelling the market growth. According to the study conducted by Fiber Broadband Association and RVA in 2018, fiber is deployed across 41 million homes in the U.S. and connects 18.6 million homes.

Top Market Players

The major key players in the market include Corning Incorporated, LS Cable & System, Prysmian Group, Sterlite Technologies Limited, Ii-Vi Incorporated, Leoni AG, Sumitomo Electric Industries, Ltd (Sei), Optical Cable Corporation, Fujikura Limited, Yangtze Optical Fiber And Cable Co., Ltd. Furukawa Electric Co. Ltd. among others.

KEY INDUSTRY DEVELOPMENTS:

• • In 2021, Corning launched Corning SMF-28 Contour optical fiber, to help telecommunications operators deal with the rising number of connected devices, the use of 5G networks, and advances in cloud computing.
  • In 2021, Corning declared plans to build an optical fiber manufacturing facility in Mszczonów, Poland. The site is anticipated to be the largest optical fiber manufacturers in the EU and is set to open in 2022, to cater the growing demand for optical fiber.
  • In 2020 – CommScope incorporated over 1.5 million feet of copper cabling and 227 miles of fiber cables in Allegiant Stadium at Las Vegas, Nevada, the U.S. These fiber optic cabling will deliver high-bandwidth connectivity, thereby providing interactive experience to Raiders fans.
  • In 2019 – Microsoft Corporation entered into a partnership with Facebook, Inc. introduced Co-Packaged Optics (CPO) collaboration with an intent to guide technology vendors in the manufacturing and design of CPO approaches.

Segments covered in the Report:

The Global Fiber Optics market has been segmented based on the Fiber Type, Type, Application, and Key region. Based on Fiber Type, the market is segmented into Glass and Plastic. Based on Cable Type, the market is segmented into Single Mode and Multi-Mode. Based on Application, the market is segmented into Communication and Non-communication. The Communication market is further segmented into Telecom, Premises, Utility, Cable Antenna, Television (CATV), Industrial, Military, and Others. The Non-communication market is further segmented into Sensors, and Fiber Optics Lighting.

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Key questions answered in this research report:

• • At what pace is the Global Fiber Optics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Global Fiber Optics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Fiber Optics market?
  • What are the various application of the Global Fiber Optics market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • Which Fiber type generated maximum revenues in 2019 and identify the most promising Fiber type during the forecast period?

Market Segmentation

Global Fiber Optics Market by Fiber Type

• • Glass
  • Plastic

Global Fiber Optics Market by Cable Type

• • Single Mode
  • Multi-Mode

Global Fiber Optics Market by Application

• • Communication
    • Telecom
    • Premises
    • Utility
    • Cable Antenna
    • Television (CATV)
    • Industrial
    • Military
    • Others
  • Non-Communication
    • Sensors
    • Fiber Optics Lighting

Global Fiber Optics Market by Region

• • North America Fiber Optics Market (Option 1: As a part of the free 25% customization)

    • By Fiber Type
    • By Cable Type
    • By Application
    • United States of America (US) Market All-Up
    • Canada Market All-Up

  • Europe Fiber Optics Market (Option 2: As a part of the free 25% Customization)

    • By Fiber Type
    • By Cable Type
    • By Application
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • Spain Market All-Up
    • France Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Fiber Optics Market (Option 3: As a part of the free 25% Customization)

    • By Fiber Type
    • By Cable Type
    • By Application
    • China Market All-Up
    • Japan Market All-Up
    • India Market All-Up
    • Rest of APAC Market All-Up

• • ROW Fiber Optics Market (Option 4: As a part of the free 25% Customization) 

• • • By Fiber Type
    • By Cable Type
    • By Application
    • Brazil Market All-Up
    • Saudi Arabia Market All-Up
    • South Africa Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Corning Incorporated
  • LS Cable & System
  • Prysmian Group
  • Sterlite Technologies Limited
  • Ii-Vi Incorporated
  • Leoni AG
  • Sumitomo Electric Industries, Ltd (Sei)
  • Optical Cable Corporation
  • Fujikura Limited
  • Yangtze Optical Fiber And Cable Co., Ltd.
  • Furukawa Electric Co. Ltd.