Press release
Fiber Optics market 2023 Size, Factors, Trends, and Demand of Industry will grow 6.1 billion by 2029
Fiber Optics market Overview
Qualitative analysis about Fiber Optics market status (2023-2029), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends , regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analysed scientifically, the feature of product circulation and sales Distribution will be presented as well.
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The comprehensive Demand analysis of the Fiber Optics market will assist in managing better product differentiation, along with detailed understanding of the core capability of each activity involved. The Fiber Optics market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
Following are the major Companies of Fiber Optics market - Corning Incorporated, Prysmian Group, Finisar, AFL Global, Sumitomo Electric Industries Ltd, LS Cable & System, Leoni AG, Furukawa Electric Co. Ltd., General Cable Corporation, Sterlite Technologies Limited, Optical Cable Corporation and others.
Recent Developments
In May 2022, Corning Incorporated (US) announced the expansion of its MiniXtend cable portfolio, with the introduction of MiniXtend HD cables for 12 to 72 fibers and MiniXtend XD cables for 192 and 288 fibers. The new MiniXtend HD cables and MiniXtend XD cables deliver high density, duct space efficiency, and reduced carbon footprint.
In November 2021, Sumitomo Electric Industries, Ltd. (Japan) launched new ITU-T G.654.E terrestrial ultra-low-loss optical fibers and cables through its PureAdvance series. The new products, i.e., ultra-low-loss optical fibers and cables are suitable for broadband applications.
Fiber Optics market Segmentation:
Based on the industrial chain, this report mainly indicates the definition, types, applications and major players of Fiber Optics market in details.
Fiber Optics Market by Type, 2023-2029, (USD Millions)
Glass
Plastic
Fiber Optics Market by Application, 2023-2029, (USD Millions)
Telecommunication
Premises
Utility
CATV
Military
Industrial
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Growth Factors
Increasing demand for communication having high bandwidth is flourish the market growth. These systems are used to transmit voice, data, and images to a distance ranging from few meters to several kilometers very easily. They have proved to be a boon for several applications especially for telecommunication sector. The evolution of fiber-integrated infrastructure has magnificently boosted the demand for fiber optic cables. Furthermore, increased deployment of broadband network architectures such as Fiber to the Home (FTTH), Fiber to the Premise (FTTP), Fiber to the Cabinet (FTTC), and Fiber to the Building (FTTB) have prominently escalated the demand for fiber optic network, and thus drives the demand for fiber optic cables.
In addition, increasing demand for Internet of Things (IoT) and connected devices also guide the positive growth of fiber optics. Rising demand for smartphones, connected wearables, and tablets are some of the major driving factors for high market growth of fiber optics in the upcoming years.
Fiber Optics market Regional Analysis:
Fiber Optics market research targets on volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents overall market analysed on historical data and future growth Aspects. Geographically, Fiber Optics market report focuses on following key regions: Americas, Europe, Asia-Pacific, Middle East & Africa and ROW.
Key Takeaway:
Asia Pacific region has dominated the market with a revenue share of around 29.2% in 2022.
By application, the telecom segment has held revenue share of around 41.9% in 2022.
By type, the multi-mode fiber optic segment has generated a revenue share of 53.9% in 2022.
By material type, glass segment has captured the highest revenue share of over 61% in 2022
By cable type, the single mode fiber optics segment has held revenue share of 51% in 2022.
Growth Market Overview:
Digital transformation of Fiber Optics industry verticals requires broadband services, thereby promoting growth. For instance, increasing online commerce for retail goods and services, digitalization of hospital records, e-government initiatives, and rapidly rising platforms for media and entertainment content are notably augmenting the market growth. Wireless technology holds immense potential in accelerating the global digital revolution across verticals through productivity enhancements and cost-effectiveness.
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