Fiber Optics Market by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and Region (North America, Europe, APAC, Rest of the World) - Global Forecast to 2027

Fiber Optics Market by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and Region (North America, Europe, APAC, Rest of the World) - Global Forecast to 2027

The fiber optics market is projected to grow from USD 4.9 billion in 2022 and is projected to reach USD 8.2 billion by 2027; it is expected to grow at a CAGR of 10.9% from 2022 to 2027.

The growth of this market is driven by factors such as growing internet penetration and data traffic, rising number of data center facilities worldwide, and mounting demand for high bandwidth.

“Market for single-mode segment to grow at the high CAGR during the forecast period.”

The single-mode segment is expected to witness high growth during the forecast period. The market growth is attributed increasing demand for single-mode fiber optic cables from telecom service providers across the globe. The single-mode fiber optic cables are majorly used by telecom companies for long-distance and high-bandwidth requirements. The rising demand has led market players to focus on new product development and launches. For instance, in February 2021, Yangtze Optical Fibre and Cable Joint Stock Limited Company (China) launched ‘X-band’, a new optical fiber brand that will focus on manufacturing ultra-reduced diameter bending insensitive, single-mode fibers. Such active brand and product launches will propel the market growth over the forecast period.

“Aerial deployment segment will grow at a high CAGR during the forecast period.”

The aerial deployment segment will witness a high growth during the forecast period. Aerial deployment offers several advantages such as cost efficiency, easy repairs and maintenance, and faster deployment compared to other mediums. Aerial deployment is well suited for areas with flat terrain and small undulations. The rising penetration of over-the-top (OTT) media services is expected to increase the aerial deployment of fiber optics. According to the India Brand Equity Foundation (IBEF), the number of paid subscribers for OTT services in India stood at 22.2 million in March 2020, which increased by 30% to 29.0 million in July 2020. The growing multimedia consumption increases the demand for fixed broadband connections, further fueling the aerial fiber optics deployment.

“Asia Pacificwill be the fastest growing region infiber optics market during the forecast period”

Asia Pacific is expected to be the fastest growing region in thefiber opticsmarket during the forecast period.Market growth is driven by extensive penetration of Fiber to the Home (FTTH) networks across Asia Pacific economies such as China, India and Japan. According to the China Internet Network Information Center (CNNIC) August 2021 report, as of June 2021, the number of FTTH connections reached 918 million, a net increase of 37.9 million over December 2020. The total length of fiber optic cable lines has steadily increased. As of June 2021, the length of fiber optic cable lines in China totaled 53.52 million kilometers, a net increase of 1.83 million kilometers from December 2020. The growing FTTH installation will fuel the adoption of fiber optics in the Asia Pacific region over the forecast timeline.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in thefiber optics space. The break-up of primary participants for the report has been shown below:

By Company Type: Tier 1 – 45%, Tier 2 – 20%, and Tier 3 – 35%

By Designation: C-level Executives – 15%, Directors –30%, and Others – 55%

By Region: North America –30%, Europe – 15%, Asia Pacific– 45%, and RoW – 10%

The report profiles key players in the fiber optics market with their respective market ranking analysis. Prominent players profiled in this report are include Corning Incorporated (US), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Yangtze Optical Fibre and Cable Joint Stock Limited Company (China), and Fujikura Ltd. (Japan).Apart from these,LEONI (Germany), LS Cable & System Ltd. (South Korea), Hengtong Group Co., Ltd. (China), Furukawa Electric Co. Ltd. (Japan), Optical Cable Corporation (US), Hitachi Cable America Inc. (US), Finolex Cables Ltd. (India), Sterlite Technologies Ltd. (India), and FiberHome Telecommunication Technologies Co. Ltd. (China), are among a few emerging companies in the fiber opticsmarket.

Research Coverage:

This research report categorizes the fiber optics market on the basis offiber type, cable type, deployment, application and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the fiber opticsmarket and forecasts the same till 2027 (including analysis of COVID-19 impact on the market). Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the fiber opticsecosystem.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:

1. This report segments the fiber optics market comprehensively and provides the closest market size projection for all subsegments across different regions.

2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.

3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.

4. The analysis of the top25 companies, based on the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.

5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.