Global Fiber Optics Market Size to Reach USD 15630 Million by 2027 at a CAGR of 7.8% | Valuates Reports

APAC market took up about 52% the global market in 2019, while Americas and Europe were about 26%, 16%.

BANGALORE, KARNATAKA, INDIA, February 4, 2022 /EINPresswire.com/ -- Fiber Optics Market¹

The global Fiber Optics market size is projected to reach US$ 15630 million by 2027, from US$ 9247 million in 2020, at a CAGR of 7.8% during 2021-2027. Key factors driving the growth of the fiber optics market are the rising demand for the internet across the globe, coupled with the rising need for FTTx, increasing demand for high-bandwidth connectivity, technological advances, and high uptake across smart cities. Optical fiber technology has completely changed data, voice, and video transmission. Fiber-powered internet offers higher bandwidth to users for seamless and heavy data transfer to support various applications including TV show or movie streaming, video conferencing, and online gaming providing a massive push to the fiber optics market.

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Trends Influencing the Fiber Optics Industry:

Rising demand for fiber-powered internet across the globe will drive the growth of the market.

The increase in demand for the internet across the globe and the rising focus for fiber to the x technology (FTTx) will drive the growth of the market during the forecast period. With increasing advancements in technology where electronic devices are capable of communicating via the internet and the rise in demand for the telecom industry, and connected devices the growth of the fiber optics market will rise exponentially in the coming years.

Widespread demand and implementation of 5G technology will provide lucrative opportunities for the growth of the market

5G is the 5th generation of wireless technology that will change the global internet landscape completely. The demand for more data and better coverage across the world is on a rise among consumers. With 5G providing a more steady and reliable connection the demand for optical fibers will soar rapidly in the coming years as high-speed data transmission and formidable network performance goals are dependent heavily on mass optical fiber connectivity. Thus, 5G provides an excellent opportunity for the growth of the fiber optics market during the forecast period.

Increasing investments in the optical fiber cable network infrastructure will boost the growth of the fiber optics industry

As internet coverage increases and with growing interest in 5G technology investments in fiber infrastructure are going to rise significantly. Due to an explosion in the market for Internet of things(IoT) devices, numerous countries have already started shoring up investments in fiber optical network infrastructure which will further create opportunities for the growth of the fiber optics market during the forecast period.

IT and telecom sector will significantly drive the growth of the fiber optics market during the forecast period.

Fiber optics cable is a fundamental building block for the telecommunication infrastructure. Over the last few years, fiber optics have seen a rising demand owing to aggressive bandwidth speed handling capacity resulting in telecommunication companies preferring fiber optic cable over any other cable. Also, the explosion of traffic from various data sources such as eCommerce, internet, multimedia, etc has given a huge rise in the usage of fiber optic cables. Thus telecom sector will contribute immensely towards the growth of the fiber optics market during the forecast period.

Fiber Optics Market Share

Based on region, APAC is the largest region of Fiber Optics in the world in the past few years and it will keep increasing in the next few years. APAC market took up about 52% the global market in 2019, while Americas and Europe were about 26%, 16%. Rising industrialization and significant infrastructural development have created immense potential for the usage of fiber optics across a variety of applications in Asia-pacific countries. China has emerged as the dominant market due to being the most populous country and having a huge number of internet users.

Based on application, IT and Telecoms was the most widely used area which took up about 83% of the global total in 2019 due to the rising usage of technology in communication and data transfer services in both short-range and long-range telecommunications and growing demand for cloud-based apps and audio video services etc.

Based on type, Single-Mode Optical Fiber and Multi-Mode Optical Fiber. Single-Mode Optical Fiber is the most widely used type which took up about 98 % of the total in 2019.

Prysmian, Hentong, Furukawa, Corning, YOFC, Futong, Sumitomo, Tongding Optic-Electronic, CommScope, etc. are the key suppliers in the global Fiber Optics market. Top 5 took up more than 40% of the global market in 2019.

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The following manufacturers are covered in this report:

• Prysmian
• Hentong
• Furukawa
• Corning
• YOFC
• Futong
• Sumitomo
• Tongding Optic-Electronic
• CommScope
• STL
• FiberHome
• Jiangsu Etern
• ZTT
• Fasten
• Nexans
• LS Cable and System

Fiber Optics Industry Breakdown Data by Type

• Multi-Mode Fiber Optics
• Single-Mode Fiber Optics

Fiber Optics Industry Breakdown Data by Application

• IT and Telecoms
• Medical
• Robotics
• Other

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