At 8.3% CAGR, Europe Optical Fiber Market is Projected to be Worth US$ 5,176.36 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe optical fiber market was valued at US$ 2,740.94 million in 2022 and is expected to reach US$ 5,176.36 million by 2030, registering a CAGR of 8.3% from 2022 to 2030. Adoption of machine learning (ML) and artificial intelligence (AI) are among the critical factor attributed to the Europe optical fiber market expansion.

The increasing advancement in Artificial Intelligence (AI) and Machine Learning (ML) technologies has opened up a world of possibilities across various industries. These transformative technologies are driving innovation, automation, and efficiency, presenting a unique opportunity for the optical fiber market. As AI and ML applications continue to increase, the demand for robust and high-speed data transmission becomes paramount. Optical fiber networks are well-suited to meet the requirements of AI and ML systems because of their ability to handle large volumes of data with minimal latency. These technologies heavily rely on the seamless and reliable transfer of data for real-time analytics, decision-making, and prediction capabilities. The low latency and high bandwidth offered by optical fiber networks enable the transfer of data with minimal delays, ensuring the efficiency and effectiveness of AI and ML algorithms. Moreover, the increasing adoption of AI and ML in various industry verticals, such as healthcare, finance, manufacturing, and transportation, requires a strong foundation of connectivity. Optical fiber networks provide the necessary infrastructure to support the massive data transfers required by AI and ML applications. The high-speed capabilities of optical fiber enable the rapid transmission of data between servers, cloud platforms, and edge devices, facilitating the seamless operation of AI and ML. Additionally, as AI and ML applications become more sophisticated, the need for edge computing and decentralized data processing is growing. With their ability to connect remote locations and handle high-speed data transfers over long distances, optical fiber networks are essential for enabling efficient edge computing infrastructure. This enables real-time decision-making and reduces the dependence on centralized data centers, ensuring faster response times and improved overall performance for AI and ML systems.

On the contrary, high installation costs hurdles the growth of Europe optical fiber market.

Based on type, the Europe optical fiber market is bifurcated into step indexed optical fiber and graded indexed optical fiber. The graded indexed segment held 51.5% market share in 2022, amassing US$ 1,411.26 million. It is projected to garner US$ 2,781.83 million by 2030 to expand at 8.9% CAGR during 2022-2030.

In terms of mode, the Europe optical fiber market is bifurcated into single mode and multi-mode. The single mode segment held 72.5% share of Europe optical fiber market in 2022, amassing US$ 1,986.75 million. It is projected to garner US$ 3,874.79 million by 2030 to expand at 8.7% CAGR during 2022-2030.

By composition, the Europe optical fiber market is bifurcated into glass and plastic. The glass segment held 85.6% share of Europe optical fiber market in 2022, amassing US$ 2,347.41 million. It is projected to garner US$ 4,510.47 million by 2030 to expand at 8.5% CAGR during 2022-2030.

Based on end user, the Europe optical fiber market is categorized into telecom and networking, industrial automation, medical, defense, and others. The telecom and networking segment held 57.6% share of Europe optical fiber market in 2022, amassing US$ 1,579.26 million. It is projected to garner US$ 2,934.73 million by 2030 to expand at 8.1% CAGR during 2022-2030.

Based on country, the Europe optical fiber market has been categorized into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 26.3% share of Europe optical fiber market in 2022. It was assessed at US$ 721.96 million in 2022 and is likely to hit US$ 1,517.86 million by 2030, exhibiting a CAGR of 9.7% during 2022-2030.

Key players operating in the Europe optical fiber market are Corning Inc, Prysmian Spa, Jiangsu Zhogtian Technology Co Ltd, Yangtze Optical Fiber and Cable Joint Stock Ltd, Fiberhome Telecommunication Technologies Co Ltd, CommScope Holding Co Inc, Nexans SA, Furukawa Electric Co Ltd, Sumitomo Electric Industries Ltd, and Coherent Corp, among others.

• In October 2023, Furukawa Electric Co., Ltd. has procured Feed-in Tariff (FIT) Non-fossil Certificates with monitoring for the electricity used in the production of optical fiber and cables at the Mie Works during the fiscal year 2023. This procurement enables the company to transition to a predominantly renewable energy-based power supply. Consequently, the company has anticipated a reduction in annual CO2 emissions by approximately 22,000 tons.
  
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