The Global Fiber Optics Market is Projected to Grow at a CAGR of 6.10% During 2022-2030: MRFR

MRFR Press Release/- Market Research Future has published a Cooked Research Report Research Report on the Global Fiber Optics Market.

The global fiber optics market is estimated to reach USD 3.3 Billion by 2030, registering a CAGR of 6.10% during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years.

The global fiber optics market is anticipated to witness favorable growth during the forecast period. Factors such as the rising demand for high-speed internet services and the increasing use of FTTX networksare expected to drive the market during the study period. The rising demand for fiber optic cables in the aerospace and automotive industries has created a growth opportunity for the fiber optics market. However, high installation costsare likely to restrain the growth of the global market.

Segmental Analysis

The global fiber optics market has been segmented based on mode type, application, end-user, and region.

Based on mode type, the fiber optics market has been divided into single mode and multi-mode. The single mode segment accounted for the larger market value in 2019, reaching a value of USD 5,108.3 million; it is expected to register a higher CAGR of 8.9% during the forecast period. The multi-mode segment was valued at USD 3,021.7 million; it is projected to register a CAGR of 7.7%. Compared to the multi-mode fiber, the single mode fibers carry a higher bandwidth and gives a higher transmission rate. Single mode fiber is a vital part of broadband networks and is designed to transmit data over long distances. Thus, it is widely used in long-distance communication, higher bandwidth areas such as telecommunication, cable television companies and the education sector. On the other hand, Multi-mode fibers offer high bandwidths at high speed over medium distances. Therefore, multi-mode fibers are considered to be domestic fibers as they are widely used for local-area networks, for example, the fiber-to-the-home (FTTH) networks.

Based on application, the fiber optics market has been segmented into long-distance communication, submarine cable, FFTX, local mobile metro network, CATV, and other LAN. The long-distance communications segment held thel argest market share in 2019, with a market value of USD 1,933.4 million; it is expected to register a CAGR of 9% during the forecast period. The submarine cable segment was the second-largest market in 2019, valued at USD 1,904 million; it is projected to register a 9.3% CAGR. However, the FTTX segment is expected to register the highest CAGR of 9.9% during the forecast period. The adoption of fiber optics for long-distance communication has increased in various industries. The IT & telecommunication industry is the largest end user of fiber optic cables to provide local and long-distance telephone, internet services to the end user. Submarine cables are heavily used in global networking, with various governments adopting submarine cables due to their high carrying capacities and secure ways to interlink countries, promoting global economic growth. However, there has been a rapid growth in the adoption of FTTX in European countries as fiber optic technology has become the medium of choice for various automotive applications.

Based on end user, the fiber optics market has been segmented into telecom & broadband, industrial, military, utilities, aerospace, and other uses. The telecom & broadband segment held the largest market share in 2019, with a market value of USD 3,735 million; it is expected to register a CAGR of 8.7% during the forecast period. The industrial segment was the second-largest market in 2019, valued at USD 1,359.7 million; it is projected to register an 8.8% CAGR. The rising demand for high-speed internet services has increased the use of fiber optics in the telecommunications & broadband market. The advantages of fiber optic cables in telecommunications include less energy consumption than other conventional wiring systems and transmission of significant amounts of data over long distances, which has encouraged the industry to prefer fiber optic cabling over copper-based cables.

Competitive Analysis

The key players of the global fiber optics market include Alcatel Lucent (France), Amphenol Corporation (US), Finisar (US), Light Guide (Latvia), Ceram Optec (Germany), Corning Optical Communications (US), Diamond SA (US), Fibercore (UK), Sumitomo Electric (Japan), Laser Components (Germany), LEONI AG (Germany), Molex LLC (US), Nufern Inc. (US), OFS Optics (US), Optical Cable Corporation (US), and Yangtze Optical Fiber and Cable Co. Ltd (China).

Regional Analysis

The regional analysis for the global fiber optics has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2019, Asia-Pacific accounted for the largest market share, and it is expected to register notable growth during the study period. The Middle East & Africa market is expected to register the highest CAGR during the forecast period. This growth can be attributed to the growing demand for high-speed Internet services among end-use verticals, including the aerospace industry.