Fiber Optics Market Size, Share, Growth Report 2032

Fiber Optics Market

Fiber Optics Market Size by Application (Telecom & broadband, Healthcare, Defense, And Private data networks And Other Applications: Global Industry Perspective, Comprehensive Analysis and Globally Forecast, 2020 – 2028

Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-763 Published Date: Mar-2023 Status : Published

The Global fiber optics market size was valued at USD 3.1 Billion in 2020 and is projected to expand with a CAGR of 6% from 2021 to 2028

Global Fiber Optics Market Size

The Global Fiber Optics Market size accounted for USD 3.1 Billion in 2020 and is expected to reach USD 4.9 Billion by 2028, growing at a CAGR of around 6% between 2021 and 2028.

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Fiber Optics Market Overview

Fiber optics are microscopic threads of pure glass used to provide high-performance networking to long distance and is deployed to transfer light signals. Optical Fibers are mostly used in the telecommunication arena such as television, internet and telephone. It transmits data in form of photons by altering light particles into light pulse via an optical wire. Optical Fiber comprises of an inner core and outer cladding. They are of two types Sing-mode Fiber and Multi-mode Fiber, in terms of refractive index it is classified into Step index Fiber and Graded index Fiber. Cost-effective and economical, less power consumption, and non-flammability are the factors propelling the market.

Fiber optics are not only deployed in telecommunication industry but are also used in military, medical, oil and gas sectors. Ongoing technological advancement, demand for secure communication has led the keys players to focus vigorously upon product enhancement, mergers & acquisition and collaborations.

An optical fiber is a flexible and transparent fiber made by drawing glass or plastic and is used to transmit light between the two ends of the fiber.  There are wide usages in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. Instead of using metal wires, fiber optic cables are used in order to signals travel along them with lesser amounts of loss. Furthermore, fibers are also used for illumination and are wrapped in bundles so that they may be used to carry images and used in other applications also.

The major factors which are driving the fiber optics market growth are increasing demand of fiber optics in different avenues such as telecommunication sector, private data networks, and others. Growing demand for high-speed internet is also impelling the demand of fiber optics market. However, some restraining factors which hindering the growth of the fiber optics market are the high cost of raw material and complex manufacturing process. Nonetheless, rising demand for a remote sensing technique which allows data transmission without any physical medium will fuel the fiber optics market growth in the years to come.

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COVID-19 Impact Analysis

The lockdowns imposed by various countries to contain the spread of Covid-19 has impacted the global operations and supply chain which had a negative consequences on Fiber Optics market as the global sales declined. As a result of lockdown, the industry became stagnant as the production and retailing operations slowed down. Moreover, significant growth of internet users has upsurged the demand for Fiber optics. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Global Fiber Optics Market Size Growth Factors

The growth of the fiber optics market is majorly boosted by raising awareness about data security issues and employment of the optional raw material. Apart from this, increasing demand for the handset, which employs optical fiber for LED light is increasing the requirement for fiber optics market. The fiber can transfer light from the one place to a distance location.

In addition, Fiber Optics Market Size Report, it can be employed for taking the heat away from light, which permits a single huge light to be separated into small points of light tinnier than any source single-handedly. Hence, it can be employed in galleries, museums, and design/architecture. On the other hand, the high initial price is believed to the major challenge for the development of the fiber optics market. Rising demand for the internet across the globe and increasing importance of data transfer, cloud computing, and the Internet of Things are other major factors strengthening the market overall. Ongoing demand for enhancing 5G connectivity is playing a vital role in stimulating the Fiber optics market.

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Report Scope:

 

Application Segment Analysis Preview

The global Fiber Optics market is divided into two categories: application and region. The market is segmented into telecom & broadband, healthcare, defence, private data transfers and other. The telecom & broadband segment is anticipated to grow on account of heavy spending in ICT industry along with the increasing users in China and India. Growing demand for mobile phones, broadband services and secured data management are the factors driving the telecom industry.

Fiber optics is used in different applications such as telecom & broadband, cable television, private data networks, oil & gas, utilities and others. Among these applications, the telecom sector is dominating the fiber optics market and is estimated to persist over the forecast period. Other applications of fiber optics are industrial, healthcare, commercial and data storage. Fiber optics is used as an imaging tool, light guides and also as lasers for surgeries. Fiber optics is used as hydrophones for seismic and SONAR uses, submarines as wiring in aircraft and other vehicles and also for field networking. In telecommunication sector, the fiber optics help to receive and transmit data. Fiber optics play cog role in industrial and commercial sector owing to its uses in various fields. For instance, fiber optics is used for imaging in inaccessible areas and acts as sensory devices to measure temperature. In conventional wiring, there isEMI issue which is overcome using fiber optic cables. It is also used for wiring in the automobile industry.Fiber optic cables are also used for research and development and testing across all the above-mentioned industries.

North America and Europe are expected to grow steadily in coming years. Asia Pacific is estimated to show significant growth on account of increasing use of new telecommunication technologies such as FTTx applications and 4G mobile usages. Therefore, due to rise in usage of 3G/4G data, demand for fiber optics is expected to escalate by network operator in Asia Pacific region.

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Key Market Players & Competitive Landscape

Some of the major players of global Fiber Optics market includes Finolex Cable Limited, Australian Fiberoptic Communications, Yangtze Optical Fiber and Cable Co. Ltd., Ofs Fitel, Sterlite Technologies Limited, Corning Inc., Fujikura Limited, and Prysmian SpA, among others.

The Global Fiber Optics Market is segmented as follows:

By Application

  • Telecom & broadband
  • Healthcare
  • Defense
  • Private data networks
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global Fiber Optics Market was valued at USD 3.1 billion in 2020.

The global Fiber Optics Market is expected to reach USD 4.9 billion by 2028, growing at a CAGR of 6% between 2021 to 2028.

Rising demand for internet, mobile phones, long distance connectivity are the key factors propelling the Fiber optics market. The growth of the market is majorly boosted by raising awareness about data security issues and employment of the optional raw material. Apart from this, increasing demand for the handset, which employs optical fiber for LED light is increasing the requirement for fiber optics market

Area-wise, North America has the biggest share in the fiber optics market. The Asia Pacific is likely to show fascinating development for fiber optics market in years to come owing to technological enhancements in the telecom industry. Economically up-and-coming nations in the Asia Pacific such as Japan, India, and China are heavily spending in ICT industry which will augment the demand of fiber optics market.

Some of the major players of global Fiber Optics market includes Finolex Cable Limited, Australian Fiberoptic Communications, Yangtze Optical Fiber and Cable Co. Ltd., Ofs Fitel, Sterlite Technologies Limited, Corning Inc., Fujikura Limited, and Prysmian SpA, among others.

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