Energy & Power / Fiber Optics Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Prysmian, Hentong, Furukawa, Corning, YOFC, Futong
Fiber Optics Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Prysmian, Hentong, Furukawa, Corning, YOFC, Futong
Registering a CAGR of 10.6% over the forecast period of 2022-2027, the global Fiber Optics Market is anticipated to reach the market value of USD 9.73 billion by 2027 from SD 4.48 billion in 2019.
Fiber Optics Market Overview
The increasing number of internet users is a major factor driving the development of the fiber optics market in the communication segment. Moreover, the development in telecom, premises, utility, and industrial sectors is driving development of fiber optic market. Moreover, the massive population base of China and India is one of the major drivers for development in the telecom market in the region, which in-turn is predictable to drive the fiber optics market during the forecast period.
The internet is a global system of connected devices. Fiber optics act as the backbone of the internet; optical fiber cables are used as the medium for transmitting information from one point to another. According to the International Telecommunication Union (ITU), 51.2% of the global population was using internet in 2018. The growth rate of the number of internet users was around 45% in 2018. The growing importance of cloud computing, data transfer and storage, and IoT is driving the use of internet. The rising cognizance of fiber optic including higher bandwidth speed capabilities, superior performance, and enhanced security will bode well for the market in the forthcoming years.
In the packaging of medical and food products, moisture control is the main concern, and thermoform plastic acts as barrier films to bring the product in good condition. Thin walling used in various packaging applications has been an additional development factor for the market.
Recent Developments:
June 03, 2021: Corning Introduces Revolutionary Fiber Designed to Accelerate Network Transformation to 5G, Cloud, and Beyond--
Corning Incorporated (NYSE:GLW) today introduced its latest innovation, Corning SMF-28® Contour optical fiber, to help telecommunications operators address the ever-expanding number of connected devices, build-out of 5G networks, and advances in cloud computing.
What are the major Applications, Types and Regions for Fiber Optics Market?
Fiber Optics Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
Multi-Mode Fiber Optics
Single-Mode Fiber Optics
By Applications it is segmented into
IT and Telecoms
Medical
Robotics
Other
Market Segments Analysis
Telecommunication is expected to dominate the market during the forecast period. The smart cities segment is expected to exhibit the highest CAGR in the near future.
Multimode segment dominated with nearly half of the market revenue share and is expected to retain the leading position over the forecast period.
Fiber Optics Market Regional Analysis
The Asia Pacific market was worth USD 1.66 billion in 2019 and is likely to dominate the industry throughout the forecast period. The increased deployment of optical fibre in the telecom industry is credited with the region's progress. The demand for optical fibre cables was strongest in China. The introduction of 5G is projected to be a major element in the market's expansion in the region. Fiber optical systems' increasing use in the electric power grid, pipelines, motorways, railways, airports, and data centres will boost market potential in the future years. Because of the growing demand for higher bandwidth in communication and data services, North America is expected to grow at a rapid pace during the projection period. According to a 2018 survey done by Fiber Broadband Association and RVA, fiber has been installed in approximately 41 million houses in the United States and connects 18.6 million residences. Because of the growing need for fibre optics in Europe, the market is likely to grow dramatically throughout the forecast period.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
What is our Fiber Optics Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 10.6% over the forecast period (2022-2027)
Yes, the report can be customized as per your needs
Key Takeaways from this Fiber Optics Report
Evaluate Fiber Optics market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Fiber Optics market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the growth rate of Fiber Opticss Market?
The Fiber Opticss Market is growing at a CAGR of 10.6% over the next 5 years.
What are the significant types of Fiber Opticss Market?
Multi-Mode Fiber Optics, Single-Mode Fiber Optics
What are the major end-use applications of Fiber Opticss Market?
IT and Telecoms, Medical, Robotics, Other
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
