Fiber Optics Market is expected to grow from USD 1.30 billion in 2021 to USD 2.18 billion by 2029 : GreyViews
Fiber Optics Market Size By Type (Glass and Plastic), By Cable Type (Single-mode and Multi-mode), By Deployment (Underground, Underwater and Aerial), By Application (Communication (Telecom, Premises, Utility, CATV, Military, Industrial and Others) and Non-communication (Sensors and Fiber Optic Lighting)), Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Fiber optics market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Fiber optics market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, cable type, deployment, application and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Fiber optics market are Adtell Integration, Adtran, Inc., ADVA Optical Networking, Broadcom, Inc., Ciena Corporation, Cisco Systems, Inc., CommScope, Corning, Inc., Finisar Corporation, Fujitsu Optical Components Ltd. among others. To achieve a substantial market share in the worldwide Fiber optics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A technology known as fiber optics focuses on the transmission of data using light as the carrier through optical fibres. Thinner than a human hair, glass or plastic threads are used to transmit data. Despite having many similarities to the standard copper wire technique, this technology is nevertheless regarded revolutionary since it offers advantages like high bandwidth, long distance communication, high safety, and security along with cables that are lighter and thinner than metal wires. A glass or plastic core plus one or more layers of cladding material make up a fibre optic cable. The coating reflects light back into the core, preventing it from escaping. Signals can be transmitted across long distances without losing their strength as a result. Fiber optics make computer networking, video-on-demand, and the transfer of digital content over very vast distances at incredibly fast speeds possible. The technology can be used in two ways: In terms of long-distance phone, data, and video traffic delivery, fibre optics have essentially replaced copper wire in the telecommunications industry. Cable television (CATV) uses fibre optics to deliver digital television and other services to homes and businesses. Since fibre optics are being utilised more frequently in data and telecommunications, the market for them is growing. Fiber optics are used to carry light signals across long distances because they attenuate less than metal wires.
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Scope of Fiber optics market report
|Market Share Unit||USD Billion|
|Segments Covered||Type, Cable Type, Deployment , Application and Regions|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Adtell Integration, Adtran, Inc., ADVA Optical Networking, Broadcom, Inc., Ciena Corporation, Cisco Systems, Inc., CommScope, Corning, Inc., Finisar Corporation, Fujitsu Optical Components Ltd. among others|
The glass segment is expected to be the fastest-growing segment in 2021.
The type segment includes Glass and Plastic. The glass segment is expected to witness the highest growth rate during the forecast period. During the forecast period, the industry is anticipated to expand more quickly. Glass optical fibers have a numerical aperture that is higher than plastic optical fibres', allowing more light to enter the system. They vary from 200 to 2200 nm, which is a much broader range. The outstanding performance of glass fibre optics in corrosive, high-temperature conditions as well as their ability to transmit both visible and infrared light are key factors driving the growth of this industry.
The single-mode segment is expected to be the fastest-growing segment in 2021.
The Cable Type segment includes Single-mode and Multi-mode. The single-mode segment is expected to witness the highest growth rate during the forecast period. Single-mode fibre optic cables have a core diameter of about 9 m, while multi-mode fibre optic cables have core sizes of 50 m or more. In comparison to multi-mode fibres, single-mode fibre optic cables can transmit signals a lot faster and farther. The demand for long-distance transmission applications is on the rise, which is mostly to blame for single-mode fibre optic cable's supremacy. The telecom sector typically uses single-mode fibres for long-distance and high-bandwidth requirements. They are used by cable television companies in addition to schools and colleges.
The aerial segment is expected to be the fastest-growing segment in 2021.
The Deployment segment includes Underground, Underwater and Aerial. The aerial segment is expected to witness the highest growth rate during the forecast period. Aerial fibre deployments are expected to rise as more people use Fiber to the Home (FTTH) services. Fiber optics installation is quicker with aerial deployment than with subsurface deployment. Low maintenance and repair expenses are also provided, which will support the market's continuous expansion. Aerial fibre optic deployment is used by telecom operators all over the world due to benefits including low cost, quick implementation, and flexibility. For instance, Orange S.A. (France), a French telecom provider, reported in January 2022 that it had installed optical fibre in about 63% of France's 29 million FTTH-eligible premises.
The communication segment is expected to be the fastest-growing segment in 2021.
The Application segment includes Communication (Telecom, Premises, Utility, CATV, Military, Industrial and Others) and Non-communication (Sensors and Fiber Optic Lighting). The communication segment is expected to witness the highest growth rate during the forecast period. The significant market share is in part due to the telecom industry's increased use of fibre optics. A few applications for fibre optics in the telecom industry include point-to-point communication, entertainment, content delivery networks, access to Internet-enabled services, critical communication, and news & infotainment. Its expansion can be attributed to a number of factors, such as an increase in Internet users, lower-cost services provided by service providers, the availability of low-cost communication equipment, and an increase in subscribers for various wireless and fixed-point communication devices.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the fiber optics include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. A number of the factors promoting the market's growth include supporting governmental initiatives, upgrading the area's healthcare system, and raising people's standards of living. Additionally, it is projected that growing medical tourism from countries like South Korea, Thailand, and Singapore will promote the development of fibre optics in the region. Investing by big companies in emerging markets like China and India is another factor that is expected to support market progress.
Germany Fiber optics market size was valued at USD 0.06 billion in 2021 and is expected to reach USD 0.18 billion by 2029, at a CAGR of 15% from 2022 to 2029. Germany has a large population of semiconductor and electronics manufacturers in addition to end users. Additionally, there have been more cases of COVID-19 infection recorded, and the battle to stop the spread is still underway. Governments have loosened the lockdown rules and allowed the factories to run, but this has had a severe effect on the fibre optic sensors sector, which is already in decline. The recovery phase is expected to be over by the end of 2021 due to the devastating impact on the whole electronics and semiconductor manufacturing sector.
Chinas Fiber optics market size was valued at USD 0.054 billion in 2021 and is expected to reach USD 0.13 billion by 2029, at a CAGR of 12% from 2022 to 2029. The long-term increases in industrial output, import and export, consumer spending, and capital investment have contributed to China's economy's continued rapid growth. China's economic trends, investment environment, industry development, supply and demand, industry capacity, industry structure, marketing channels, and significant industry participants were all analysed in a recent study.
India's Fiber optics market size was valued at USD 0.049 billion in 2021 and is expected to reach USD 0.11 billion by 2029, at a CAGR of 11% from 2022 to 2029. A flexible, transparent fibre called an optical fibre is used to carry light that has been drawn through glass or plastic. The optical fibre is commonly employed in fiber-optic communications because it allows transmission over longer distances and at higher bandwidths than wire lines. The utilisation of fibre optic cables to transfer communications with less signal loss is what is causing the market to grow.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by increasing research and development to leverage capabilities of the technology, prevalence of chronic and lifestyle-related diseases.
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