At 7.4% CAGR, Middle East & Africa Optical Fiber Market is Projected to be Worth US$ 1,177.46 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa optical fiber market was valued at US$ 665.21 million in 2022 and is expected to reach US$ 1,177.46 million by 2030, registering a CAGR of 7.4% from 2022 to 2030. Increase in adoption of fiber-to-the-home (FTTH) connectivity and widespread implementation of 5G are among the critical factor attributed to the Middle East & Africa optical fiber market expansion.

The internet has become an indispensable element of daily life. Consumers rely on technology for everything, including communication, entertainment, and work. However, as the reliance on the internet has risen, so has the demand for more dependable and quicker access. Fiber-to-the-home (FTTH) broadband is a broadband technology that employs optical fibers to offer high-speed internet to residences. Unlike typical copper or coaxial cables, which are susceptible to signal loss and interference, optical fibers are constructed of glass or plastic. They can transfer data over considerably greater distances without signal degradation. Traditional internet technologies cannot compete with quicker speeds and more dependable connections of FTTH. In a very short period, FTTH broadband has come a long way. It was first utilized exclusively in a few industries, particularly for high-end corporate and government applications. However, as the need for faster and more dependable internet connections has increased, so has the use of FTTH broadband. Today, it is becoming more common in residential areas, and many internet service providers now provide FTTH broadband as a basic offering. Therefore, the increase in the adoption of FTTH connectivity drives the market.

On the contrary, high installation costs hurdles the growth of Middle East & Africa optical fiber market.

Based on type, the Middle East & Africa optical fiber market is bifurcated into step indexed optical fiber and graded indexed optical fiber. The graded indexed segment held 54.4% market share in 2022, amassing US$ 362.18 million. It is projected to garner US$ 666.19 million by 2030 to expand at 7.9% CAGR during 2022-2030.

In terms of mode, the Middle East & Africa optical fiber market is bifurcated into single mode and multi-mode. The single mode segment held 75.5% share of Middle East & Africa optical fiber market in 2022, amassing US$ 502.28 million. It is projected to garner US$ 925.28 million by 2030 to expand at 7.9% CAGR during 2022-2030.

By composition, the Middle East & Africa optical fiber market is bifurcated into glass and plastic. The glass segment held 82.7% share of Middle East & Africa optical fiber market in 2022, amassing US$ 550.32 million. It is projected to garner US$ 1,004.06 million by 2030 to expand at 7.8% CAGR during 2022-2030.

Based on end user, the Middle East & Africa optical fiber market is categorized into telecom and networking, industrial automation, medical, defense, and others. The telecom and networking segment held 56.6% share of Middle East & Africa optical fiber market in 2022, amassing US$ 376.46 million. It is projected to garner US$ 655.79 million by 2030 to expand at 7.2% CAGR during 2022-2030.

Based on country, the Middle East & Africa optical fiber market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 42.6% share of Middle East & Africa optical fiber market in 2022. It was assessed at US$ 283.58 million in 2022 and is likely to hit US$ 497.95 million by 2030, exhibiting a CAGR of 7.3% during 2022-2030.

Key players operating in the Middle East & Africa 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, Sumitomo Electric showcased its high-definition core aligning fusion splicer TYPE-72C+, which was equipped with its patented artificial intelligence technology NanoTune