Plastic Optic Fiber Market By Cable Type (Single Mode, Multi Mode), By End-Use Industry (IT and Telecommunication, Energy and Power, Healthcare, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Plastic Optic Fiber Market By Cable Type (Single Mode, Multi Mode), By End-Use Industry (IT and Telecommunication, Energy and Power, Healthcare, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global plastic optic fiber market size was valued at $5.0 billion in 2022, and is projected to reach $11.4 billion by 2032, growing at a CAGR of 8.6% from 2023 to 2032.

Plastic optic fibers are slender, transparent strands made from polymers, designed to transmit light signals along their length. These fibers are used primarily in telecommunications and networking to transmit data, sound, or images over long distances with high speed and accuracy. It is based on the principle of guiding light through internal reflection. When light enters the core of the fiber at a specific angle, it continuously reflects off the walls of the core, staying confined within the core and transmitting signals over great distances.

Rise in internet penetration and digitalization trends become significant drivers for the growing demand for optic fibers. As businesses and individuals gain access to the internet, there is an escalating need for robust, high-speed, and reliable data transmission infrastructure. Optic fibers, renowned for their ability to transmit vast amounts of data at incredible speeds over long distances, perfectly meet this surging demand. Moreover, the proliferation of online services, cloud computing, and multimedia content consumption has fueled the need for faster and more reliable internet connections. Optic fibers provide the necessary infrastructure to support these services, offering higher bandwidth capabilities compared to traditional copper-based systems. All these factors drive the demand for the plastic optic fiber market during the forecast period.

However, the lack of optic fiber coverage in rural and remote areas poses a significant hurdle to the comprehensive expansion of this technology. While urban centers often benefit from robust optic fiber networks, rural and remote regions face challenges in infrastructure development due to several factors. In addition, the absence of requisite infrastructure in rural areas such as adequate supporting facilities and connectivity points, adds to the complexity and cost of network expansion. All these factors hamper the plastic optic fiber market growth.

Telemedicine and remote healthcare stand at the forefront of transformative healthcare practices where optic fibers play a crucial role in facilitating their efficacy and widespread adoption. These innovative approaches leverage telecommunications technology to deliver medical services, diagnostics, and consultations remotely, overcoming geographical barriers and enhancing access to healthcare. In addition, wearable medical devices equipped with plastic optic fiber sensors collect and transmit vital patient data such as heart rate, blood pressure, or glucose levels, to healthcare providers, enabling timely interventions and adjustments to treatment plans. All these factors are anticipated to offer new growth opportunities for optic fiber during the forecast period.

The plastic optic fiber market is segmented on the basis of cable type, end-use industry, and region. On the basis of cable type, the market is divided into single mode and multi mode. The single mode segment accounted for more than half of global plastic optic fiber market share in 2022 and is expected to maintain its dominance during the forecast period. The rise in demand for higher bandwidth and faster data transfer speeds is a significant driver for single mode cables. With the explosive growth of data-intensive applications such as video streaming, cloud computing, and the internet of things (IoT), there is a continuous need for networks capable of handling massive amounts of data with minimal latency. Single mode cables with their high bandwidth capacity and low signal loss, are well-suited for meeting these escalating data transmission demands.

On the basis of end-use industry, the market is segmented into IT & telecommunication, energy & power, healthcare, aerospace & defense, and others. The IT & telecommunication segment accounted for more than two-fifths of global plastic optic fiber market share in 2022 and is expected to maintain its dominance during the forecast period. The evolution towards 5G networks represents a pivotal driver for optic fiber deployment. 5G technology demands an extensive and robust infrastructure to support its high-speed, low-latency capabilities. Optic fiber networks form the foundation for 5G, enabling the ultra-fast transmission of massive amounts of data required for this next-generation wireless technology.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for more than half of the global plastic optic fiber market share in 2022 and is expected to maintain its dominance during the forecast period. Countries in Asia-Pacific such as China, India, South Korea, and Vietnam are witnessing rapid urbanization and industrialization, leading to an increased demand for high-speed, reliable connectivity across various sectors. This demand is further amplified by the proliferation of digital technologies, the Internet of Things (IoT), cloud services, and the rising number of mobile users. Optic fiber with its superior capacity and speed, is a critical enabler for meeting these escalating connectivity needs, driving its extensive deployment in the region.

Key players in the plastic optic fiber industry include Corning Incorporated, Finisar Corporation, Finolex Cables Ltd., Fujikura Ltd., Hengtong Group Co., Ltd., Leoni, PCT International, Inc, Prysmian Group, Sumitomo Electric Industries Ltd, and Yangtze Optical Fiber and Cable Joint Stock Limited Company.

Apart from these major players, there are other key players in the plastic optic fiber market. These include AFL, Asahi Kasei Corporation, Chromis Fiberoptics, Clearfield Inc., Electri-Cord Manufacturing Company, Molex, LLC, PolyOptics GmbH, Radix Technologies Ltd., SABIC, Teledyne Reynolds, Timbercon Europe Ltd., and VAHALI Group.

Key findings of the study
On the basis of cable type, multi mode segment is anticipated to grow at the fastest CAGR of 8.8% during the forecast period.
On the basis of end-use industry, the healthcare segment is anticipated to grow at the fastest CAGR of 9.2% during the forecast period.
Region-wise, Asia-Pacific has the highest share in 2022 in terms of revenue.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plastic optic fiber market analysis from 2022 to 2032 to identify the prevailing plastic optic fiber market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the plastic optic fiber market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global plastic optic fiber market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Cable Type

Single Mode
Multi Mode

By End-Use Industry

IT and Telecommunication
Energy and Power
Healthcare
Aerospace and Defense
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Corning Incorporated
Prysmian Group
Sumitomo Electric Industries, Ltd.
Yangtze Optical Fibre and Cable Joint Stock Limited Company
Fujikura Ltd.
Leoni AG
Hengtong Group Co., Ltd.
FINISAR CORPORATION
PCT International, Inc.
Finolex Cables Ltd.

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