The global fiber optics market size is expected to reach USD 2472.9 Million in 2028 and register a steady CAGR of 10.5%, according to the latest report by Reports and Data. Key factors driving global market revenue growth are high adoption of Fiber to the Home (FTTH), Fiber to the Building (FTTB) and 5G network, increasing investments in optical fiber cable network and increasing demand for fiber optics in the medical sector for various applications such as x-ray imaging, remote spectrophotometry and surgical endoscopy.
Fiber optics are transparent, flexible cables made up of glass or plastic that transmit light between two ends of the fiber and are widely used in fiber optic communications. These are preferred over copper electronic cables due to higher bandwidths and transmission over long distances. Factors such as rapid growth in the IT and telecommunication sector, increasing penetration of smartphones, high usage of fiber optics in various sectors such as oil and gas, military, utilities, and increasing investments in fiber optics technology are boosting segment revenue growth. In addition, increasing adoption of Over the Top (OTT) platforms, video streaming, and CATV are supporting the growth of fiber optics market. However, high installation prices and high demand for wireless communication services and products are expected to hamper growth of the global fiber optics market throughout the forecast period.
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Some key highlights in the report:
- Based on cable type, the single-mode cable segment is expected to account for largest revenue share over the forecast period. Single-mode cables offer higher bandwidth and data transmission and are widely used in various telecommunication applications, CATV, and internet networks.
- Based on optical fiber type, the plastic segment is expected to register fastest revenue growth between 2021 and 2028. Plastic optical fibers are preferred over glass optical fibers as these are less expensive, highly flexible, and lighter in weight. In addition, these can withstand extreme temperatures and can absorb shocks and vibrations.
- Among the end use segments, the IT and telecom segment is expected to register rapid revenue growth during the forecast period owing to increasing demand for faster speed connectivity, increasing penetration of smartphones and internet, and technological advancements in the IT and telecom sector.
- Asia Pacific is expected to register robust revenue CAGR throughout the forecast period owing to rapid developments in the IT and telecom industry, high penetration of internet and OTT platforms, rising trend of 4K streaming and video conferencing, and increasing demand for fiber optics across various industrial sectors and medical industry. India, China and Japan are key contributors in Asia Pacific.
- North America is expected to account for largest revenue share over the forecast period. Factors such as increasing penetration of internet, high adoption of 5G network, Internet of Things (IoT), and FTTH and increasing adoption of fiber optics in healthcare, telecommunication, and defense sector and emergence of companies are key factors boosting market growth in North America.
- Major companies in the fiber optics market include Prysmian Group, HTGD, Furukawa, Corning Incorporated, Yangtze Optical Fiber, and Cable Co., Ltd. (YOFC)., Futong, Fujikura, Sumitomo, Tongding, CommScope, Sterlite Technologies Limited, FiberHome, Jiangsu Etern, ZTT, General Cable, Belden, Fasten, Nexans, Kaile, LS, Optical Cable Corporation (OCC) and Finolex Cables Limited.
Segments covered in the report:
Market segment based on Optical Fiber Type:
- Plastics Optical Fiber
- Glass Optical Fiber
Market segment based on End-user:
- IT and Telecom
- Defense and Aerospace
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
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Beneficial Aspects of the Report:
- Global and region forecast of the Fiber Optics market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals.The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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