Fiber Optics Market: Global Industry to Reach USD 9.35 Billion by 2026

According to the Facts and Factors, Research Report, the global Fiber Optics market in 2019 was approximately USD 6.8 Billion. The market is expected to grow at a CAGR of 4.6% and is anticipated to reach around USD 9.35 Billion by 2026.

Fiber optics is long, thin hair like strands made up of glass or plastic that are arranged in bundles called optical fibers. It allows transmission of light signals over longer distances and at higher bandwidths.

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Increasing demand for high bandwidth communication is propelling the growth of the fiber optic market. In addition, the high adoption of fiber optic cables to transmit signals with less loss has increased the market growth in recent years. These systems simply ease the transmission of data, images and voice ranging from a few meters to a few kilometers. Rise in the development in telecommunication and IT sectors have significantly boosted the sales of these cables. Moreover, technical advances have increased the deployment of broadband network architectures such as Fiber to the Cabinet (FTTC), Fiber to the Building (FTTB), Fiber to the Home (FTTH), and Fiber to the Premise (FTTP) in the telecoms market have influenced the fiber optic market tremendously. However, introduction of wireless communication systems are gaining popularity over fiber optics, particularly in applications that requires higher data transfer rate. It also requires low capital for installation and thereby, it is limiting the fiber optics market growth. Moreover implementation of 5G across the globe is anticipated to offer lucrative opportunities for the market players operating in this market.

The global fiber optics market has been segmented on the basis of mode, type, and industry vertical. Based on mode, the market is divided into single mode and multi-mode. The single mode segment is expected to witness steady growth and to lead the market over the forecast period owing to its utilization for long distance installations ranging from two meters to ten thousand meters. It also has lower power loss relative to its counterparts in multimode and optic plastics. In term of type, it has been segmented into glass optical fiber and plastic optical fiber. The glass type accounts the largest market share in recent years owing to its easy availability and high performance and growing demand from various applications. On the basis of end-user, it has been categorized into telecom & IT, healthcare, aerospace & defense, public sector, energy & utilities, and manufacturing amongst others. The telecom and IT sector holds the largest market share owing to rise in number of internet users throughout the world. In addition, growing technological advancements in fiber optics is expected to propel the growth of the market in future years.

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On the basis of geography, the market has been segmented into North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are dominating the market presently. The Asia Pacific fiber optics market is expected to register highest market growth over the analysis period. Rising industrialization in this region has offered numerous opportunities for the use of fiber optics across several applications. Furthermore, these major fiber optics markets are further analyzed into countries including China, Japan, India, Australia, U.S., Mexico, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.

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Some of the prominent players of global fiber optic market includes Furukawa Fiber Optics Limited, Corning Incorporated, Sterlite Technologies Limited, Optical Cable Corporation (OCC), OFS Fitel, LLC, Prysmian Group, Yangtze Optical Fiber and Cable Co., Ltd. (YOFC)., Finisar, Leoni AG, General Cable Corporation, and AFL amongst others.

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