Fiber Optics Market was estimated at USD 3,897 Million in 2019 and is expected to grow at a CAGR of 9.4% during forecast period.
GMI Research speculates the high demand for optical fibers in the telecommunication & IT industry. These require greater bandwidth and faster speed connections which augmented the fiber optics market.
Introduction of Fiber Optics Market
An optical fiber is a transparent and flexible fiber comprised of drawing glass or plastic. It usually comes in bundles called optical cables that have a diameter slightly thicker than human hair. With the help of optical (light-based) technology, fiber optics cables help transmit information from one end to another end of the cable. Therefore, it uses glass or plastic that makes it capable of transferring a signal to a long distance with minimum loss due to unaffected electromagnetic interference. The global market is segmented into single-mode and multi-mode.
Key Players of the Market
- 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.
Fiber Optics Market Dynamics
The significant factors augmenting the growth of the Global Fiber Optics market include the growing use of the internet around the globe and the rising need for FTTx (Fiber to the X). The increasing number of internet users globally and the growing requirement for high bandwidth communication to transfer heavy data like images and videos further propelling the global fiber optic market size. Therefore, the telecommunication and IT sector require high-speed internet will positively impact the fiber optic market size in the upcoming years.
In addition, the constant technological development in the telecommunication sector envisages the rising deployment of broadband network architectures, thereby fueling the fiber optic market growth. Moreover, the rapid growth of the telecommunication industry in the Middle East & Africa as these regions allocate high investment in infrastructure. However, as per the global fiber optic market report, a plethora of internet-based devices, high data connectivity demand, and the growing number of subscribers will bolster the telecommunication industry in this region, further accelerating market growth. However, the wireless communication system is growing continuously, which restrain the market growth.
Fiber Optics Market Segmentation
Fiber Type Segmentation Market Drivers
Based on Fiber Type, the glass segment is estimated to grow at a higher CAGR throughout the forecast period due to the increasing demand from multiple applications and easy availability and excellent performance of the glass Fiber optics.
Application Segmentation Market Drivers
Based on the Application, the communication segment is anticipated to surge at a higher CAGR during the forecast period. It is due to the rising number of internet users across the globe and the growth in the telecom, utility, and industrial sector. Moreover, in India and China, a large population is adopting fiber optics in the telecom industry, responsible for market growth.
Based on the region, Asia-Pacific is estimated to be at the top in the global Fiber Optics market during the forecast period. It is due to the high industrialization and infrastructural advancements that offer various growth opportunities for the use of Fiber optics in several applications. In addition, the rising number of internet users in highly populated countries such as India and China in this region is further bolstering the market growth.
Global Fiber Optics Market Segmentation
Segmentation By Fiber Type
Segmentation By Cable Type
- Single Mode
Segmentation By Application
- Cable Antenna
- Television (CATV)
- Fiber Optics Lighting
Segmentation by Region
- The United States of America
- The United Kingdom
- Rest of Europe
- Rest of APAC
- South Africa
- Saudi Arabia
- Rest of RoW
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