Fiber Optics Market to be Worth $7.9 Billion by 2030

 

 

" Fiber Optics Market to be Worth $7.9 Billion by 2030”

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Fiber Optics Market by Type (Single, Multi-mode), Material (Glass, Plastic), Deployment, Application (Internet & Computer Networking, Cable Television), End-user (IT & Telecommunications, Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research^®, the global fiber optics market is projected to reach $7.9 billion by 2030, at a CAGR of 8.1% from 2023 to 2030. The growth of this market is driven by the increasing demand for high-speed internet & data-intensive applications and the need to interconnect servers & data storage systems within data center facilities. Additionally, technological advancements in telecommunications & networking, including FTTX, growing initiatives towards smart cities, and increasing need for high transmission rates & low-latency connectivity are expected to create market growth opportunities.

However, the extrinsic and intrinsic attenuation may restrain the growth of this market. The high cost of installation and associated complexities is a major challenge for the players operating in this market. Deployment of fiber optic cables in rural areas, growth of 5G communication networks & data centers, and advancements in wavelength division multiplexing (WDM) technology are prominent trends in the fiber optics market.

The global fiber optics market is segmented by type, deployment mode, organization size, application, and end-user industry. The study also evaluates industry competitors and analyzes the market at the region/country level.

Based on type, the global fiber optics market is broadly segmented into single-mode and multi-mode. The multi-mode type segment is further divided into step-index multimode cables and graded index multimode cables. In 2023, the single-mode segment is expected to account for the largest share of the global fiber optics market. The large market share of this segment is attributed to the growing deployment of long-haul & metro city networks, increasing implementation of 5G networks, rising demand for low attenuation & dispersion, great data-transmitting capabilities, and increasing investments in the telecommunications sector. This segment is also projected to register the highest CAGR during the forecast period.

Based on material type, the global fiber optics market is broadly segmented into glass fiber optics and plastic fiber optics. In 2023, the glass fiber optics segment is expected to account for the largest share of the global fiber optics market. The large market share of this segment is attributed to the growing demand for higher information transmission with lower loss, rising demand for high-performance fiber optics in extreme temperatures & corrosive environments, and growing interconnected servers & data storage systems within data center facilities. This segment is also projected to register the highest CAGR during the forecast period.

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Based on deployment mode, the global fiber optics market is broadly segmented into underground, underwater, and aerial. In 2023, the aerial segment is expected to account for the largest share of the global fiber optics market. This segment's large market share is attributed to the increasing technological advancements in telecommunications & networking, including Fiber to the X, growing demand for high-speed internet services, increasing adoption of faster & cheaper installation methods, and the growing importance of over-the-top (OTT) media services. This segment is also projected to register the highest CAGR during the forecast period.

Based on application, the global fiber optics market is broadly segmented into internet & computer networking, cable television, telephone, lighting & decorations, and other applications. In 2023, the internet & computer networking segment is expected to account for the largest share of the global fiber optics market. This segment's large market share is attributed to the growing demand for network-connected devices across organizations to improve business communication and operation efficiency, the growing remote work culture, the rising penetration of the internet user base, the growing importance of networking, and the increasing need for more agile & efficient networking infrastructure. This segment is also projected to register the highest CAGR during the forecast period.

Based on end-user industry, the global fiber optics market is broadly segmented into IT & telecommunications, energy & power, aerospace & defense, healthcare & pharmaceuticals, manufacturing & industrial automation, building & construction, oil & gas industry, public sector, and others. In 2023, the IT & telecommunications segment is expected to account for the largest share of the global fiber optics market. The large market share of this segment is attributed to the increasing implementation of communication technologies such as 5G, IoT, and NB-IoT, rising demand for voice broadcasting, video streaming, & data sharing, growing need for greater bandwidth & faster speed connections, and rising penetration of mobile-phone & internet services.

However, the healthcare & pharmaceuticals segment is projected to register the highest CAGR during the forecast period due to the growing investment in medical equipment manufacturers & robots, increasing adoption of digital technology in healthcare, increasing demand for enhanced healthcare services, growing need to transmit healthcare data securely and efficiently, and increasing need for secure internet connections to ensure that patient data is transmitted quickly and securely.

Based on geography, the global fiber optics market is segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America. In 2023, Asia-Pacific is expected to account for the largest share of the global fiber optics market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large market share of Asia-Pacific is mainly attributed to the growing deployment of broadband network platforms in IT & telecommunications and administrative sectors, increasing implementation of fiber-integrated infrastructure, growing government initiatives to improve rural infrastructure and affordable high-speed internet, and growing need for Internet of Things (IoT) & connected devices across APAC region including China, India, & Japan. The region is also projected to register the highest CAGR during the forecast period.

Key Players:

The key players operating in the fiber optics market include Prysmian S.p.A. (Italy), Corning Incorporated (U.S.), Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), LEONI Kabel GmbH (Germany), LS Cable & System Ltd. (South Korea), Hengtong Group (China), Furukawa Electric Co., Ltd. (Japan), CommScope Holding Company, Inc. (U.S.), Finolex Cables Ltd. (India), Proterial Cable America, Inc. (U.S.), Sterlite Technologies (India), Yangtze Optical Fibre and Cable Joint Stock Limited Company (China), Optical Cable Corporation (U.S.), OFS Fitel, LLC (U.S.), Aksh Optifibre Limited (India), FiberHome Telecommunication Technologies Co., Ltd. (China), Belden Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Fibertronics, Inc. (U.S.), Infinera Corporation (U.S.), Nexans S.A. (France), Molex, LLC (U.S.), Extron (U.S.), Pepperl+Fuchs (India) Pvt. Ltd. (India), America Fujikura Ltd. (U.S.), Geokon, Inc. (U.S.), and Avantes B.V.(Netherlands).

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Key questions answered in the report:

·  Which high-growth market segments are based on type, material type, deployment mode, application, end-user, and geography?

·  What was the historical market for fiber optics?

·  What are the market forecasts and estimates for 2023–2030?

·  What are the major drivers, restraints, opportunities, challenges, and trends in the fiber optics market?

·  Who are the major players, and what shares do they hold in the fiber optics market?

·  How is the competitive analysis in the fiber optics market?

·  What are the recent developments in the fiber optics market?

·  What strategies are adopted by the major players in the fiber optics market?

·  What are the key geographic trends, and which are the high-growth countries?

·  Who are the local emerging players in the fiber optics market, and how do they compete with the other players?

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