Fiber Optics Market

Fiber Optics Market Size and Growth Rate:

According to a new study published by Research Cosmos, the size of the Global Fiber Optics Market is anticipated to reach USD 7 billion by 2026. The market for Fiber Optics is propelled by factors including, increasing penetration of internet, rising government funds for the development of broadband infrastructure, and intense research investments by the companies for development of innovative and new technology in the fiber optic to enable cost-savings.

Growth Drivers:

The plastic optic fiber market is expected to notice high growth during the projected period. The core material (polymer) used for the construction of plastic optic fiber is different from the material (glass) used in single mode and multimode. This provides a dynamic application and helps in saving cost. Further, the telecommunication application segment is dominating the market for fiber optics attributed to the escalating demand for internet in developing economies. This segment is expected to witness constant growth owing to growing telecommunication industry particularly in the Asia Pacific and the Middle East & Africa region.

Geographical Insights:

The Asia Pacific Fiber Optics Market is anticipated to witness the highest growth followed by the Middle East & Africa. Increased industrialization, increasing adoption of smart devices resulting in high demand for internet, and blooming telecommunication industry are the major factor for propelling market growth in the Middle East & Africa. Further, rising fiber optics applications in the medical sector are driving market growth in countries including, China, India, and Japan. Also, governments of developed nations such as the US, Japan, Germany, UK, and China are significantly investing to improve their country’s security infrastructure. Thus, with the adoption of fiber optics by the government, due to the benefits delivered by it, has further resulted in increased Fiber Optics Market growth.

Competitive Landscape and Leading Companies:

Corning, one of the leading company in the fiber optics market stated that the market demand is surpassing supply. The company announced its plans to spend USD 176 million in the next two years for building a new manufacturing facility for optical fiber as well as to expand its existing facility. Also, Finisa, a transceiver vendor, is also planning to construct a new manufacturing plant in China and expand its existing facility in Texas. Such development reflects increasing market growth.

Leading Companies Operating in the Global Fiber Optics Market profiled in the report are:

1. Corning Incorporated
2. Prysmian S.p.A.
3. Optical Cable Corporation
4. OFS Fitel, LLC
5. AFL
6. Furukawa Electric
7. Sterlite Technologies Limited
8. Finolex Cables Ltd.
9. YOFC
10. General Cable Corporation

Detailed Segmentation of the Global Fiber Optics Market:

Fiber Optics Market Analysis - By Type:

• Single Mode
• Multi Mode
• Plastic Optical Fiber

Fiber Optics Market Analysis - By Application

• Telecommunications
• Oil & Gas
• Military & Aerospace
• BFSI
• Medical
• Railway
• Others

Fiber Optics Market Analysis - By Regions

• North America

  • US
  • Canada

• Europe

  • Germany
  • UK
  • France
  • Italy

• Asia Pacific

  • China
  • South Korea
  • Japan
  • India

• Latin America

  • Brazil
  • Mexico

• Middle East & Africa