Fiber Optics

Fiber Optics Market to Reach US$ 9.91 Billion, Globally, by 2027

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Precedence Research recently published a report on “Fiber Optics Market Size, Share and Growth Analysis By Product Type (Multimode, Single Mode, and Plastic Optical Fiber), By Application (Military & Aerospace, Oil & Gas, BFSI, Railway, Telecom, Medical, and Others) – Global Industry Analysis, Trends, Regional Outlook and Forecast 2020 – 2027”. Amid the COVID-19 crisis, the global fiber optics market value is projected to reach US$ 9.91 billion by 2027, rising at a CAGR of 4.6% from 2020 to 2027.

The global fiber optics market size was accounted for US$ 6.81 billion in 2019, according to a new report by Precedence Research.

Fiber Optics Market Size 2016-2027

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.

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.

Key Players & 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 key players operating in the market are Optical Cable Corporation (OCC), Corning Incorporated, OFS Fitel, LLC, Sterlite Technologies Limited, AFL, Prysmian Group, Finolex Cables Limited, Birla Furukawa Fiber Optics Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC)among others.

Segments Covered in the Report

This report analyses and projects market revenue and growth trend at global, regional, and country levels and offers an analysis of the modern industry developments in each of the sub-segments from 2016 to 2027. This report classifies global fiber optics market on the basis of product type, application, and region:

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

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Key Takeaways

  • Comprehensive analysis of the fiber optics market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
  • Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global fiber optics market
  • Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
  • Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
  • Comprehensive list of key potential clients across major end-use industries in different geographies
  • Thorough import-export analysis  across the globe
  • Regional level production output to comprehend the demand-supply scenario
  • Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

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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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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