Global Fiber Optics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
The Fiber Optics Market Report offers in-depth insights, revenue details, and other vital information regarding the global fiber optics market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027.
The report offers insightful and detailed information regarding the various key players operating in the global fiber optics market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global fiber optics market report has been segmented on the basis of type, application, and region.
Fiber Optic Market Overview:
The Fiber Optics Market was valued at $7.5 billion in 2021 & is projected to reach $9.3 billion by 2027. It is expected to grow at a 10.4% CAGR between 2021 and 2027.
Fiber optics, or optical fiber, refers to the medium and technology related to the transmission of information as light pulses along with a glass, plastic strand, or fiber. Fiber optic cables can contain a varying number of such glass fibers, and the core is encased in another glass layer called cladding.
A layer known as a buffer tube protects the cladding, and a jacket layer acts as the final protective layer for an individual strand. Fiber optics technology enables data to be transmitted at high speed in the form of light, which is then converted into binary data at the receiver end. In addition, fiber optics is less prone to interference as compared to metal cables.
The growth of the global fiber optics market is driven significantly by increasing Internet usage globally, owing to high speed and transfer with large bandwidth. Also, digital transmission of data using optic fibers is increasing more as compared to copper wires due to the higher reliability, speed, security, and transfer capacity of fiber optics.
This is resulting in increasing adoption in the telecommunication sector and computer networking, which is another factor driving overall market growth, and this trend is expected to continue over the forecast period. In addition, increasing use in sectors such as residential, commercial, and the government is further expected to drive market growth.
Some major factor restraining the growth 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 growth of wireless communication technology is another factor expected to hamper the growth of the overall fiber optics market.
However, players in the global fiber optics market can capitalize on opportunities arising from the rapid and rising adoption of this technology in the IT and healthcare sectors, owing to increasing investment by various companies and upgraded infrastructure, especially in developed and developing countries across the globe.
The Asia Pacific is projected to witness relatively fast growth in the global fiber optics market due to advancements in the telecommunication sector, wherein china will have highest market share in this region.
North America holds the highest market currently and Europe will be showing significant growth during the forecast period in the global fiber optics market. Among other regions, an increase in the use of broadband technology and increasing awareness in Latin America are likely to cause a rise in the demand for the fiber optic market.
Global Fiber Optics Market Segmentation:
Global fiber optics market segmentation by type:
- Single-mode fiber optics
- Multimode fiber optics
- Plastic optical fiber
Global fiber optics market segmentation by application:
- Electronics and communication.
- Oil and Gas.
- Defense and Aerospace.
- Medical and healthcare.
Global fiber optics market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Corning Inc.
- Prysmian group
- AFL global
- Belden Inc.
- Finisar Corporation
- Finolex Cable Limited
- Sumitomo Electric Industries Ltd.
- Furukawa Electric Co. Ltd.
- Yangtze Optical Fiber
- Cable Joint Stock Limited Company
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