Fiber optic technology is embraced all around the globe because of its innate benefits over conventionally used copper. Growth in the worldwide marketplace is ready to get hold of a prime stimulus from the growing demand for excessive-bandwidth connectivity to help excessive-pace statistics transmission, technological advances, rising applications, and high uptake throughout smart cities.
The global Fiber Optics market worth USD 11.1 billion by 2030, growing at a CAGR of 4.6%
Covid-19 Impact:
As the effect of COVID-19 spreads, the overall market has been impacted by COVID-19 and the growth rate has also been impacted in 2019-2020. Our latest research, perspectives, and insights on the management issues that matter most to the companies and organization about the market, which is leading through the COVID-19 crisis to managing risk and digitizing operations to deliver trusted information and experiences to the decision makers.
This report has a detailed outlook of the many changes that have emerged in the fiber optics industry chain depending on upstream and downstream market conditions. A deep analysis of the Covid-19 pandemic inflicted changes in the businesses and the best industrial practices to restore growth trends across regions and countries have been documented in thorough detail to encourage progressive investment decisions by players and aspirants in the global fiber optics market.
Based on Fiber Type,
The glass segment is expected to grow at a higher CAGR in the market during the forecast period owing to the growing demand from several applications and easy availability and better performance of the glass Fiber optics.
Based on the Application,
The communication segment is expected to grow at a higher CAGR during the forecast period due to the growing number of internet user across the world coupled with the growth in utility, telecom, and industrial sector. Moreover, large base of population in China and India which is driving telecom industry in this region, that leads to rise the growth of the market.
Based on the region,
Asia-Pacific is anticipated to lead the global Fiber Optics market during the forecast period owing to the increasing industrialization and infrastructural development that offer various growth opportunities for the use of Fiber optics in various applications. In addition to this, the presence of highly populated countries such as China and India in this region and growing number of internet user is further propelling market growth.
Further in countries like India, increasing government are boosting the fiber demand in telecommunication sector. For instance, in November 2017, to support and boost the Bharat Net program that was built to bridge the gap between the rural and the urban, the government of India announced a $550 million in subsidies to private players joining the programme. Players such as Reliance Jio, Bharti Airtel and Idea cellular are thus expected to make large-scale developments in fiber networks owing to the backing by the government. These government initiatives are projected to boost the demand for fiber optics in the Asia Pacific market.
Optical fibres have emerged as a compelling technology in the modern era characterized by robust demand for high bandwidth and high-speed data transfer. The technology has radically transformed data, video and voice transmission.
Demand for the internet is increasing, growing need for FTTX and technological improvements are the elements driving the growth of the Fiber optics marketplace. Wireless conversation structures are restraining the fiber optics marketplace. Growth in the industries of telecommunication acts as an opportunity in the fiber optics marketplace. Intense competition is one of the demanding situations confronted through the fiber optics marketplace. This Fiber optics marketplace report offers info on recent developments, trade regulations, import-export analysis, manufacturing analysis, value chain optimization, marketplace share, the impact of domestic and localized marketplace players, analyses opportunities in terms of raising revenue pockets, modifications in marketplace regulations, strategic marketplace growth analysis, marketplace size, category marketplace growths, software niches, and dominance, product approvals, product launches, geographic expansions, technological improvements in the marketplace.
This section presently accounts for a 24.1% percentage of the worldwide Fiber Optics marketplace. The single-mode product variant, probably to witness a huge increase, is utilized for long-distance installations that range from 2 meters – 10,000 meters. Despite being more priced compared to plastic and multimode optical fibers, the single-mode segment gives a lesser loss of power as compared to plastic and multimode optical fibers.
.png "Global Fiber Optics Market 2018-2028 (USD Billion)")
The fiber optic cable market is highly fragmented, globally, comprising market incumbents, such as Corning Inc., Leoni AG, Fujikura Ltd, and Hitachi Cable America Inc. (Hitachi Cable), accompanied by several regional firms. Since barriers to entry for new players are moderate, regional companies are witnessing value in foraying, especially into the fiber optic cable industry.
March 2020 - The company announced the acquisition of Thunderbolt 3 certification for its new active optical cables (AOCs) from Intel Corporation, the company that established the Thunderbolt 3 standard. Sumitomo Electric developed 40 Gbps Thunderbolt 3 AOCs for high-speed transmission to meet the demand for long-distance transmission.
March 2020 - The company announced the introduction of the industry’s first pluggable optical line subsystem (POLS) platform to enable the emerging 400ZR coherent transceiver ecosystem for next-generation data centre interconnects (DCIs).
Fiber Optics Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2022-2030 |
| Study Period | 2020-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 11.1 billion |
| Growth Rate | CAGR of 4.6% during 2021-2030 |
| Segment Covered | Product Type, By Material Type, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Optical Cable Corporation (OCC),Corning Incorporated,OFS Fitel, LLC,Sterlite Technologies Limited,AFL,Prysmian Group,Finolex Cables Limited,Birla Furukawa Fiber Optics Limited,Yangtze Optical Fiber and Cable Co., Ltd. (YOFC) |
Key Segments of the Global Fiber Optics Market
Global Fiber Optics Market by Fiber Type
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- Glass
- Plastic
Global Fiber Optics Market by Cable Type
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- Single Mode
- Multi-Mode
Global Fiber Optics Market by Application
Communication
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- Telecom
- Premises
- Utility
- Cable Antenna
- Television (CATV)
- Industrial
- Military
- Others
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Non-Communication
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- Sensors
- Fiber Optics Lighting
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Regional Overview, 2018-2028 (USD Billion)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The Fiber Optic Market is growing at a CAGR of 9.3% over the next 5 years.
Asia Pacific is growing at the highest CAGR over 2021- 2028.
Corning Inc., Leoni AG, Fujikura Ltd, and Hitachi Cable America Inc. (Hitachi Cable)