Global Optical Fiber Market Booming Rapidly With Leading Players Such as Fujikura Ltd., Corning Incorporated, Sterlite Technologies Ltd., Furukawa Electric Co., Ltd., The Prysmian Group, Finisar Corporation, Sumitomo Electric Industries, Ltd., Nexans S.A.

Increased demand for faster and enhanced improved networking and network services, growing adoption of 5G and fiber to the home (FTTH) connectivity, and emergence of internet of things (IoT) are the factors aiding in the market growth. Nevertheless, high cost associated with the installation of optical fibers and growth in wireless communication systems are likely to act as hindrances to the growth of the market.

Based on mode, the single mode segment dominated the global optical fiber market in 2017 and is expected to continue this trend during the forecast period owing to continuous increase in traffic and rise in internet speed. This has resulted in the growth in need of increased bandwidth.Furthermore, the multi-mode segment is expected to grow at the highest CAGR during the forecast period, owing to rapid growth in corporate local area networks (LANs) where multimode fiber is cost-effectively deployed.

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A report on “Global Optical Fiber Market by Mode, Type, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2018 - 2025” published by Allied Market Research, the global optical fiber market is likely to reach $8,153 million by 2025 from $3,477 million in 2017, attaining a CAGR of 11.6% from 2018 to 2025.

The global optical fiber market was led by the telecom & IT segment in 2017 and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth owing to increased adoption of optical fiber in advanced biomedical instruments to enable efficient patient monitoring, diagnosis, and treatment.

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Healthcare sector would go on to be the fastest

The healthcare sector would grow at the fastest CAGR of 16.8% from 2018 to 2025, owing to the adoption of advanced biomedical instrumentation for achieving enhanced efficiency in patient monitoring, diagnosis, and treatment. However, the telecom & IT segment contributed more than one-third of the total revenue in 2017, owing to the need for higher bandwidth and faster connections especially across emerging countries. The other segments analyzed in the study are public sector, energy & utilities, manufacturing, aerospace & defense among others.

North America fastest, Asia-Pacific dominating

Rise in investments in defense sector & security infrastructure along with increase in adoption of the technology in communication & data transmission services have enabled North America to grow at the fastest CAGR of 14.3% during the forecast period. However, Asia-Pacific region accounted for nearly two-thirds of the total market share in 2017, and will maintain its lead position by 2025, owing to technological advancements and rapid acceptance in the telecom & IT sectors.

Key Findings of the Optical Fiber Market Study:

• By mode, multi-mode optical fiber segment is expected to exhibit significant growth in the global optical fiber market during the forecast period.
• In 2017, the plastic optical fiber segment accounted for the highest revenue in the end user category.
• Based on industry vertical, the telecom & IT segment generated the highest revenue in 2017.
• Based on region, North America is anticipated to exhibit substantial growth during the forecast period.

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Leadership board

The major market players analyzed in the study are Fujikura Ltd., Sterlite Technologies Ltd., Corning Incorporated, The Prysmian Group, Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Ltd., Finisar Corporation, Reflex Photonics, Inc., Nexans S.A., and Tata Communications Ltd. New product launches, expansions, joint ventures, collaborations, partnerships, mergers & acquisitions, and others are some of the strategies adopted by them to achieve a strong position in the industry.

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