At 9.2% CAGR, North America Optical Fiber Market is Projected to be Worth US$ 3,434.76 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America optical fiber market was valued at US$ 1,704.01 million in 2022 and is expected to reach US$ 3,434.76 million by 2030, registering a CAGR of 9.2% from 2022 to 2030. Emergence of wavelength division multiplexing (WDM) in optical fiber and widespread implementation of 5G are among the critical factor attributed to the North America optical fiber market expansion.

The emergence of wavelength division multiplexing (WDM) technology in the optical fiber market is revolutionizing data transmission capabilities, thus, becoming a prominent trend in the industry. WDM enables the simultaneous transmission of multiple data streams over a single optical fiber by utilizing different wavelengths of light. With the exponential growth of data traffic and the demand for high-speed connectivity, WDM allows for increased data capacity within a single optical fiber. By multiplexing multiple wavelengths, each carrying independent data streams, WDM technology significantly enhances the overall data-carrying capacity of optical fiber networks. This increased capacity enables telecommunication companies and internet service providers (ISPs) to meet the ever-growing demand for bandwidth-intensive applications, including video streaming, cloud computing, and IoT devices.

Moreover, WDM technology provides a cost-effective solution for telecom operators and service providers. By utilizing the full potential of existing optical fiber infrastructure, WDM eliminates the need for additional fiber optic cables, reducing deployment costs and minimizing disruptions to existing networks. Moreover, the ability to transmit multiple data streams simultaneously through a single fiber enhances network efficiency, optimizing resources and reducing operational expenses. Additionally, WDM networks can easily accommodate future capacity expansion by simply adding or adjusting wavelengths as required. This scalability allows telecommunication companies to adapt to changing customer demands and market dynamics without significant infrastructure investments.

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

Based on type, the North America optical fiber market is bifurcated into step indexed optical fiber and graded indexed optical fiber. The graded indexed segment held 53.7% market share in 2022, amassing US$ 914.54 million. It is projected to garner US$ 1,918.47 million by 2030 to expand at 9.7% CAGR during 2022-2030.

In terms of mode, the North America optical fiber market is bifurcated into single mode and multi-mode. The single mode segment held 73.5% share of North America optical fiber market in 2022, amassing US$ 1,251.70 million. It is projected to garner US$ 2,604.87 million by 2030 to expand at 9.6% CAGR during 2022-2030.

By composition, the North America optical fiber market is bifurcated into glass, and plastic. The glass segment held 84.2% share of North America optical fiber market in 2022, amassing US$ 1,435.37 million. It is projected to garner US$ 2,951.45 million by 2030 to expand at 9.4% CAGR during 2022-2030.

Based on end user, the North America optical fiber market is categorized into telecom and networking, industrial automation, medical, defense, and others. The telecom and networking segment held 58.5% share of North America optical fiber market in 2022, amassing US$ 997.51 million. It is projected to garner US$ 1,978.89 million by 2030 to expand at 8.9% CAGR during 2022-2030.

Based on country, the North America optical fiber market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.3% share of North America optical fiber market in 2022. It was assessed at US$ 1,299.82 million in 2022 and is likely to hit US$ 2,672.89 million by 2030, exhibiting a CAGR of 9.4% during 2022-2030.

Key players operating in the North America 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 September 2023, Corning Incorporated introduced the Corning MiniXtend Plenum MicroCable, the latest addition to the Corning MiniXtend cabling portfolio. The new micro cable allows enterprise network operators in settings such as office buildings, hospitals, airports, and college campuses to install or upgrade their fiber networks more efficiently with minimal disruption.
  
  
• In April 2023, Prysmian Group introduced the first optical cables that are certified as environmentally friendly. The ECO CABLE products aim to meet the increasing demand for sustainability from the telecom market and all its stakeholders.
  
  
  
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