Fiber Optics Market to Touch USD 15.3 Billion at 6.90% CAGR by 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Fiber Optic Market”.

Fiber Optics Market Highlights

The global fiber optics market will touch USD 15.3 billion at a 6.90% CAGR by 2030, as per the recent Market Research Future report.

Fiber Optics Drivers 

Increasing Application in Healthcare & Medical Sector to Boost Market Growth 

Ophthalmic lasers, X-ray imaging, surgical endoscopy & microscopy, laboratory and clinical diagnostics, surgical instruments, and light treatment are a few notable applications of fiber optic technology in the healthcare & medical sector. Because patients choose minimally invasive procedures, there is a rising need for fiber optic technologies in the medical sector. Additionally, patients are requesting advanced medical procedures, which are encouraging the development of sophisticated medical procedures. The market is expanding as fiber optics technology is being used in the healthcare industry.

Fiber Optics Opportunities 

Extensive Penetration of 5G Technology to offer Robust Opportunities 

The widespread use of 5G in established and developing economies would present advantageous business possibilities for vendors of fiber optics. The deployment of optical fibers is crucial to the development of 5G infrastructure. These optical fibers are capable of transmitting a significant quantity of data quickly between two locations. Telecom service providers in fact are placing a strong emphasis on installing more recent 5G base stations in order to acquire a competitive edge in the market as 5G services continue to be commercialized.

Restraints and Challenges 

Challenges to Install Fiber Optics may act as Market Restraints 

The challenges to install fiber optics owing to administrative and technical difficulties may act as market restraints over the forecast period.

Fiber Optics Market Segmentation 

The global fiber optics market is bifurcated based on industry vertical, cable type, and fiber type.

By fiber type, glass will lead the market over the forecast period.

By cable type, multi-mode will domineer the market over the forecast period.

By industry vertical, telecom sector will spearhead the market over the forecast period.

COVID-19 Analysis 

The worldwide supply chain & cable production were significantly interrupted by the COVID-19 outbreak. The epidemic led to the closure of companies and fiber optic cable production facilities as well as the suspension of international trade. The market saw a brief decrease as a result of the increasing attention on medical infrastructure. However, because of the remote work culture, the pandemic accelerated the digital transformation, 5G development, and need for high-speed network access.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Fiber Optic Market Research Report

Regional Analysis 

APAC to Head Fiber Optics Market Growth 

The region with the largest revenue share was Asia Pacific. The expansion of fiber-integrated infrastructure, increased technical breakthroughs, widespread usage in the information technology and telecommunications industries, and the administrative sectors are all factors in the rise. The positive expansion of fiber optics in this area is also driven by rising need for the IoT and connected devices as well as by the expanding deployment of broadband network platforms such as Fiber to Premise, Fiber to Building, Fiber to Home, and Fiber to Cabinet. Furthermore, the region's fiber optics sector is projected to expand as a result of the extensive installation of the 5G base stations within China, South Korea, & Japan.

North America to Have Admirable Growth in Fiber Optics Market 

Increased technical advancements, widespread adoption in IT & telecommunications, administrative, and development of fiber-integrated infrastructure may all be contributing factors to the market's growth in the North American region. The positive expansion of fiber optics in this area is mostly due to growing need for the IoT & connected devices as well as increased deployment of broadband network platforms including Fiber to the Premise, Fiber to the Building, Fiber to the Home, and Fiber to the Cabinet. Additionally, the demand for fiber optic networks has significantly increased in North America due to the increasing use of connected wearables, smartphones, and tablets.

Key Players 

Eminent industry players profiled in the global fiber optics market report include Optical Cable Corporation , Sterlite Technologies , Fujikura Limited , Finolex Cable Limited , Ofs Fitel LLC , Prysmian Spa, Infinera Corporation , Birla Furukawa Fibre Optics , AFC Group , Molex Incorporated , Anixter International , Luna , Avantes , Pepperl+Fuchs , Geokon , L-com.com , TE Connectivity , Extron Electronics and Others.