Press release
Fiber Optics Market to be Worth $7.9 Billion by 2030
[City, Date] - Meticulous Research®, a renowned global market research company, has released an insightful report titled, 'Fiber Optics Market by Type (Single, Multi-mode), Material (Glass, Plastic), Deployment, Application (Internet & Computer Networking, Cable Television), End-user (IT & Telecommunications, Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2030.'Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5696
According to the findings presented in this latest publication from Meticulous Research®, the global fiber optics market is anticipated to achieve a valuation of $7.9 billion by the year 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 8.1% from 2023 to 2030. The surge in demand for high-speed internet, data-intensive applications, and the imperative need to interconnect servers and data storage systems within data center facilities are key factors propelling market growth. Furthermore, technological advancements in telecommunications and networking, such as Fiber to the X (FTTX), initiatives towards smart cities, and the increasing requirement for high transmission rates and low-latency connectivity are poised to unlock new growth avenues.
However, intrinsic and extrinsic attenuation pose challenges to the market's growth, accompanied by the substantial installation costs and associated complexities faced by industry players. Prominent trends include the deployment of fiber optic cables in rural areas, the expansion of 5G communication networks and data centers, and advancements in Wavelength Division Multiplexing (WDM) technology.
The global fiber optics market is meticulously segmented by type, deployment mode, organization size, application, and end-user industry. The study also includes a comprehensive evaluation of industry competitors and a detailed market analysis at the region/country level.
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Key Findings:
Type Segmentation:
Single-mode and multi-mode are the two broad segments in the global fiber optics market.
In 2023, the single-mode segment is anticipated to dominate, driven by the extensive deployment in long-haul and metro city networks, the surge in 5G network implementation, and the escalating demand for low attenuation and dispersion.
The single-mode segment is projected to register the highest CAGR during the forecast period.
Material Type Segmentation:
Glass fiber optics and plastic fiber optics constitute the global fiber optics market in terms of material.
In 2023, the glass fiber optics segment is expected to lead, supported by the growing demand for higher information transmission with lower loss and the increasing use of high-performance fiber optics in extreme temperatures and corrosive environments.
The glass fiber optics segment is forecasted to witness the highest CAGR during the forecast period.
Deployment Mode Segmentation:
The global fiber optics market is segmented into underground, underwater, and aerial based on deployment mode.
Aerial deployment is projected to command the largest market share in 2023, owing to technological advancements in telecommunications and networking, the increasing demand for high-speed internet services, adoption of faster and cost-effective installation methods, and the growing importance of over-the-top (OTT) media services.
The aerial deployment segment is expected to register the highest CAGR during the forecast period.
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Application Segmentation:
Segments encompass internet & computer networking, cable television, telephone, lighting & decorations, and other applications.
The internet & computer networking segment is forecasted to dominate in 2023, driven by the rising demand for network-connected devices, the growing remote work culture, and the increasing need for agile and efficient networking infrastructure.
The internet & computer networking segment is expected to witness the highest CAGR during the forecast period.
End-user Industry Segmentation:
The global fiber optics market includes end-user industries such as IT & telecommunications, energy & power, aerospace & defense, healthcare & pharmaceuticals, manufacturing & industrial automation, building & construction, oil & gas industry, public sector, and others.
In 2023, the IT & telecommunications segment is projected to lead, fueled by the increasing implementation of communication technologies like 5G, IoT, and NB-IoT.
The healthcare & pharmaceuticals segment is anticipated to register the highest CAGR during the forecast period, driven by investments in medical equipment manufacturers, the adoption of digital technology in healthcare, and the growing need for secure internet connections for efficient healthcare data transmission.
Geographic Segmentation:
The global fiber optics market is geographically segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America.
In 2023, Asia-Pacific is expected to claim the largest market share, attributed to the growing deployment of broadband network platforms in IT & telecommunications, government initiatives to improve rural infrastructure, and the increasing demand for Internet of Things (IoT) devices across countries like China, India, and Japan.
Asia-Pacific is projected to register the highest CAGR during the forecast period.
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Key Players:
The key players in the fiber optics market include Prysmian S.p.A. (Italy), Corning Incorporated (U.S.), Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), LEONI Kabel GmbH (Germany), LS Cable & System Ltd. (South Korea), Hengtong Group (China), Furukawa Electric Co., Ltd. (Japan), CommScope Holding Company, Inc. (U.S.), Finolex Cables Ltd. (India), Proterial Cable America, Inc. (U.S.), Sterlite Technologies (India), Yangtze Optical Fibre and Cable Joint Stock Limited Company (China), Optical Cable Corporation (U.S.), OFS Fitel, LLC (U.S.), Aksh Optifibre Limited (India), FiberHome Telecommunication Technologies Co., Ltd. (China), Belden Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Fibertronics, Inc. (U.S.), Infinera Corporation (U.S.), Nexans S.A. (France), Molex, LLC (U.S.), Extron (U.S.), Pepperl+Fuchs (India) Pvt. Ltd. (India), America Fujikura Ltd. (U.S.), Geokon, Inc. (U.S.), and Avantes B.V. (Netherlands).
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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