Fiber Optics Market by Fiber Type (Glass and Plastic), Cable Type (Single-mode, and Multi-mode), Application (Telecommunication, Smart Cities, Power Utilities, Aerospace and Defense, Industrial Automation and Control, Renewable Energy, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026373 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 4.9 billion mark in 2022 and is expected to hit US$ 10.8 billion by 2030, recording a CAGR of 10.0% during the forecast period.

Fiber optics market has been significantly growing with the increasing internet penetration and data traffic

There has been an increase in internet users all across the world, owing to various factors such as rising internet usage, social media services, entertainment streaming channels, Voice over IP (VoIP) and mobile payments. Therefore, growth in demand for tablets, laptops, smartphones and other smart devices has led to an increase in data services, video streaming and gaming. Moreover, the rise in mobile communications depends on backhaul and fronthaul, wireline networks. The growth in mobile communications mainly depends on wireline networks, such as backhaul and fronthaul. In addition, the tremendous amount of data generation is anticipated to boost the deployment of fibre optic cables and subsystems.

Within the report, the market is segmented into fibre type, cable type, deployment, and geography. By fibre type, the market is further divided into glass, and plastic. By cable type, the market is further bifurcated into single-mode, and multi-mode. By cable type, the market is further divided into underground, underwater, and aerial. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Rise in the deployment of 5G communication networks

The extensive deployment of the 5G network in many countries worldwide is anticipated to create positive impact on fiber optics market, as development of the 5G infrastructure is dependent on the utilization of optical fibers. The optical fibers transmit huge amount of data from one location to another. In order to achieve competitive advantage in the market, the telecom service providers develop new 5G base stations, for the advancement of 5G services. According to the Ministry of Industry and Information Technology, in China, approximately 1.4 million 5G base stations were developed by telecom service providers in China (as of March 2022), supporting network traffic of more than 500 million users in the country.

Growing prevalence of fiber optics in smart city projects

According to the United Nations (UN) projections, urbanization will add 2.5 billion people to the world’s urban population by 2050, implying that about 68% of the world’s population is expected to live in cities. Governments worldwide address the concerns of the massive increase in population through smart city projects. The development of smart cities requires interconnected and interrelated technologies for transfer, capturing and translating data in order to strengthen urban infrastructure. The fiber optics are utilized to have ultra-broadband and low latency communication in cities, compared to the conventional copper cable network, which has its own limitations. Therefore, the development of smart cities is anticipated to fuel the demand for fiber optics.

Recent strategic developments in fiber optics market

The fiber optics market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2022, Corning Incorporated expanded the MiniXtend cable portfolio, with the introduction of MiniXtend HD cables for 12 to 72 fibers enabling use in microducts with 6 mm inner diameter and MiniXtend XD cables for 192 and 288 fibers.
  • In November 2021, Sumitomo Electric Industries, Ltd. 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.

The fiber optics market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Corning Incorporated, Sumitomo Electric Industries, Ltd., Hitachi Cable America Inc., Prysmian Group and Fujikura Ltd. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Fiber optics end users
  • Fiber optics manufacturers
  • Fiber optics-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Glass
    • Plastic
  • Cable Type:
    • Single-mode
    • Multi-mode
  • Application:
    • Telecommunication
    • Smart Cities
    • Power Utilities
    • Aerospace and Defense
    • Industrial Automation and Control
    • Renewable Energy
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Corning Incorporated
    • Sumitomo Electric Industries, Ltd.
    • Hitachi Cable America Inc.
    • Prysmian Group
    • Fujikura Ltd.

Companies profiled
- Corning Incorporated
- Sumitomo Electric Industries, Ltd.
- Hitachi Cable America Inc.
- Prysmian Group
- Fujikura Ltd.

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