The global fiber optics market size was valued at USD 6.81 billion in 2019 and is predicted to reach USD 9.91 billion by 2027, at a CAGR of 4.6% from 2020 to 2027. The base year considered for the study is 2020, and the forecast has been provided for the period from 2020 to 2027.
Optical fibers are transparent flexible cables made up of high-grade plastic, glass, and silica that follow total internal reflection theory for transmitting information from one place to another. Intensive research & development in the fiber optics has extended its application area in medical, oil & gas, military & defense, utilities, and other industry sectors. This technology has proved as a boon for above mentioned applications owing to its ease of data transfer without any losses.
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Growth Factors
Rising penetration of internet for supporting the growth of connected devices drives the demand for fiber optics prominently. Fiber optics is the backbone of internet, as they are used for transmitting information from one end to another. As per the International Telecommunication Union (ITU), 51.2% of the world's population was using internet in the year 2018 and the projected rise in the number of internet users in 2018 was nearly 45%. In addition, IEA (International Energy Agency) has predicted that the number of internet users will surpass 5 Bn by 2025. Prominent growth in Internet of Things (IoT) and cloud-based services are the prime factors that proliferates the growth of internet users across the globe.
Besides this, increasing application of wireless devices and communication system may hinder the market growth. Low cost of installation along with non-interference of different frequencies propels the demand for wireless communication system across the world. Nonetheless, rising investment in the broadband network infrastructure FTTx anticipated to offer lucrative growth opportunities for the market in the coming years.
Report Highlights
- The Asia Pacific is the most promising region in the global fiber optics market with maximum revenue share in 2019 along with inclined growth during the forecast period. The supreme growth of the region is mainly due to significant investment on the development of network infrastructure. China, India, and Japan are some of the countries that invest significantly on the infrastructure development.
- Multimode segment dominated the global fiber optics market in 2019 and expected to grow at a moderate rate during the forecast period. However, plastic optic fiber expected to offer the highest growth rate in the coming years owing to its cost-saving property and dynamic applications.
- By application, telecommunication sector led the global fiber optics market in 2019 and projected to offer attractive growth opportunity in the near future. Significant investment on the deployment of broadband network architecture such as FTTx that includes FTTP, FTTH, FTTB, FTTC, and FTTN has prominently driven the market.
- On the other hand, military & defense along with medical application sectors offer the fastest growth rate during the forecast period due to prominent deployment and investment for the fiber optical devices in the sector.
Key Market Players and Strategies
The global fiber optics market offers lucrative growth prospects for the market players owing changing trend and introduction of new technologies create new requirements for advanced fiber optic cables and other communication modes. Fiber optic manufacturers increasingly focus on product development and their regional expansion. For instance, in March 2018, Corning Inc. launched Corning TXF Optical Fiber that enable high-speed transmission of data over longer span for improved network flexibility along with low cost of the network.
Some of the prominent players in the fiber optics market include:
- Optical Cable Corporation (OCC)
- Corning Incorporated
- OFS Fitel, LLC
- Sterlite Technologies Limited
- AFL
- Prysmian Group
- Finolex Cables Limited
- Birla Furukawa Fiber Optics Limited
- Yangtze Optical Fiber and Cable Co., Ltd. (YOFC)
Market Segmentation
By Product Type
- Multimode
- Single Mode
- Plastic Optical Fiber
By Application
- Military & Aerospace
- Weapon System
- Secure Communication
- Surveillance System
- UAV
- Optical Computing
- Military Vehicle Sensing
- Oil & Gas
- High Bandwidth Communications
- Material Sensing
- Others
- BFSI
- Railway
- Speed Monitoring
- Railway Maintenance
- Dynamic Load Calculation
- Telecom
- Medical
- Minimal Invasive Surgery
- Biomedical Sensing
- Imaging
- Others
Regional Segmentation
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
- Latin America (Brazil and Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Regional Snapshots
In 2019, the Asia Pacific led the global fiber optics market with the largest revenue share and expected to forecast lucrative growth aspects by retaining its leading market position. Strong investment in network infrastructure development is prime factor behind the significant growth of the region. China was the largest contributor to the Asia Pacific fiber optics market in the year 2019.
However, India and other developing nations register high growth rate among the other Asian countries due to rapid penetration of IoT and smart devices. IoT market in India is poised to reach US$ 15 billion by the year 2020, accounting for nearly 5% of the global market. The country provides tremendous opportunity for the startups and investors to show their keen interest in the emerging market of IoT. The cumulative investment is predicted to be around US$ 60 million between years 2014 and 2016. In the similar fashion, Rest of Asia Pacific also offers significant opportunity for the fiber optics market over the forecast period. The prime reason behind the significant growth are increasing investment in embedded computing, lifestyle/wearables, connected homes, industrial internet, and many more segments.
Why should you invest in this report?
If you are aiming to enter the global fiber optics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for fiber optics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Data points covered under fiber optics market research study:
- The historic and forecast market estimation from years 2016 to 2027
- Market estimation and research analysis for the global market by distribution channel
- Market estimation and research analysis for the global market by region
- Research analysis on market dynamics including drivers, restraints, opportunities, trends, and market challenges.
- Competitive scenery and business strategies by key players
- SWOT Analysis
- PORTER's five force research analysis
- PEST Analysis
- DR impact analysis
- Heat map analysis
- Investment feasibility analysis
Key Questions Answered by the Report:
- What will be the size of the global fiber optics market in 2027?
- What is the expected CAGR for the fiber optics market between 2020 and 2027?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global fiber optics market?
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Fiber Optics Market, By Product
7.1. Fiber Optics Market, by Product Type, 2020-2027
7.1.1. Multimode
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Single Mode
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Plastic Optical Fiber
7.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Fiber Optics Market, By Application
8.1. Fiber Optics Market, by Application, 2020-2027
8.1.1. Military & Aerospace
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Oil & Gas
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. BFSI
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Railway
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Telecom
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Medical
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Fiber Optics Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. Optical Cable Corporation (OCC)
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Corning Incorporated
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. OFS Fitel, LLC
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Sterlite Technologies Limited
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. AFL
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Prysmian Group
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Finolex Cables Limited
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Birla Furukawa Fiber Optics Limited
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Yangtze Optical Fiber and Cable Co., Ltd. (YOFC)
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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