Global Fiber Optics Market: Industry Analysis and Forecast (2019-2027)March 20, 2021
Global Fiber Optics Market was valued US$ 3.56Bn in 2019 and is expected to reach US$ 7.98 Bn by 2027, at CAGR of 10.62% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The growing importance of cloud computing, data transfer & storage, and IoT is driving the use of Internet, which is driving the global fiber optics market, as it acts as the backbone for data transmission. The request for the Internet is also driven by several other factors like increase in the number of connected devices in homes, increase in the request for Over-The-Top (OTT) video content, and the increasing Internet ac10.62cess. All these factors have led to an growth in Internet users, which in turn has led to the higher usage of optical fiber cable to transfer information over the Internet, thus driving the global fiber optics market.
Fiber optics is the technology used to transmit information from one source to another. Information is transmitted either through glass or plastics optical fibersfibres of different diameters. The superior properties of fiber optics, like higher bandwidth, higher speed, and a lesser degree of attenuation than copper cable, make it a preferred material for use in various applications. Fiber optics is used in various communications and non-communications applications like telecom, premises, CATV, and sensors.
Major factors restraining the development of the global fiber optics market is the high initial costs for deployment. Also, fiber optics are more fragile than metal wires and are difficult to connect. The development of wireless communication technology is another factor expected to hamper the development of the overall fiber optics market.
On the basis of the Cable Type segment, the global fiber optics market for the single cable type is estimated to grow at a high growth. The next generation of high bandwidth requiring applications, along with the proliferation of connected devices, is estimated to require faster and higher bandwidth networks which will require the use of multi-mode cable for data transfer. Global fiber optics market this development in the FTTX networks will in turn is estimated to drive its market.
Based on the Optical Fiber Type, glass optical fiber is estimated to hold largest share during forecast period. Advantages like greater bandwidth immunity to interference from vibrations & electricity and the light weight are estimated to drive its market in applications like as telecom and CATV which require mechanical protection against stress.
In terms of region, The Middle Eastern & African region is expected to hold largest market share during forecast period. The factors contributing to the market development in the Middle East & Africa are the rise in request for the Internet from emerging countries, increased industrialization, and the increasing telecom industry. The global fiber optics market in Europe and North America is consolidated, whereas the market in the Asia-Pacific has a fragmented structure, where China, Japan, India and Australia have high potential in the global fiber optics market.
The objective of the report is to present a comprehensive assessment of the market and contains thought full insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global Fiber Optics Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by Cable Type, price, financial position, Cable Type portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global Fiber Optics Market.
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Scope of Global Fiber Optics Market:
Global Fiber Optics Market, By Cable Type
• Single Mode
Global Fiber Optics Market, By Optical Fiber Type
Global Fiber Optics Market, By Application
Global Fiber Optics Market, By Region
• North America
• South America
• Middle East & Africa
Key Players Operated in Market Include:
- Corning Inc.
• Prysmian Group
• AFL Global
• Sumitomo Electronics Industries (SEI)
• Ls Cable & System
• Leoni AG
• Furukawa Electric
• General Cable Corporation
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