Global fiber optics market is anticipated to grow at a CAGR of around 5.0% during the forecast period. The fiber optics industry is driven by the growing demand for high bandwidth communication fueled with rising demand for high speed and data internet services. In addition, the growing digitalization across emerging economies such as China and India is driving industry growth. Due to its benefits that include greater bandwidth, faster speeds, longer distances, better reliability, thinner and sturdier, more flexibility and lower total cost of ownership, fiber optics highly utilized in IT &telecom, BFSI, medical and healthcare, and military and aerospace industry. In the future, technological advancement such as the deployment of 5G networks, Fiber to the Building (FTTB) and Fiber to the Home (FTTH) is creating enormous opportunities for the market.
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The growth of the fiber optics market is driven considerably by rising internet usage across the globe due to high speed and transfer with large bandwidth. As well as digital transmission of data using optic fibers is growing more as compared to copper wires owing to speed, security, transfer capacity of fiber optics and higher reliability. This leads to the rising adoption of fiber optics in the telecommunication industry and for computer networking that is another factor fuelling the growth of the market. The key players in the market can capitalize on opportunities due to the rapid adoption of this technology in the IT and healthcare sectors due to increasing investment by different companies and improved infrastructure mainly in developed and developing countries.
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In addition, growing applications in a medical device such asX-ray, ophthalmic lasers, light therapy, and surgical endoscopy and microscopy is also creating opportunities for the global fiber optics market. The rising demand for minimally invasive surgeries is the factor that propels the demand in the fiber optics industry. However, fiber optics are more fragile than metal wires and are difficult to connect are the factors that hamper the growth of the fiber optics market during the forecast period. The increase of wireless communication technology and the high initial costs for deployment is another restraining factor for the growth of the fiber optics market during the forecast period.
Market Segmentation
Global Fiber Optics Market byCable Type
- Single ModeOptical Fiber
- Multi-ModeOptical Fiber
- Plastic Optical Fiber
Global Fiber Optics Market by Application
- IT & Telecom
- BFSI
- Medical and Healthcare
- Military and Aerospace
- Oil and Gas
- Others
Regional Analysis
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
Company Profiles
- II-VI, Inc.
- AFC Cable Systems (Atkore International, Inc.)
- Birla Furukawa Fiber Optics Pvt. Ltd.
- Corning, Inc.
- Finolex Cable, Ltd.
- Fujikura, Ltd.
- Furukawa Electric Co. Ltd.
- Hitachi Cable Ltd.
- Infinera Corp.
- Koch Industries, Inc.
- Leoni AG
- Ls Cable & System, Ltd.
- OFS Fitel, LLC
- Optical Cable Corp.
- Prysmian Group
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
