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Fiber Optics Market Value Forecast to Reach US$ 9.91 Billion by 2027

As per Precedence Research analysis, the global fiber optics market is set to surge at a high CAGR of 4.6% over the next seven years, expanding US$ 9.91 Billion in value over the same period of time. The report provides the overall revenue of the global fiber optics market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Optical fibers are transparent flexible cables made up of high-grade plastic, glass, and silica that follow total internal reflection theory for transmitting information from one place to another. Intensive research & development in the fiber optics has extended its application area in medical, oil & gas, military & defense, utilities, and other industry sectors. This technology has proved as a boon for above mentioned applications owing to its ease of data transfer without any losses.

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Growth Factors

Rising penetration of internet for supporting the growth of connected devices drives the demand for fiber optics prominently. Fiber optics is the backbone of internet, as they are used for transmitting information from one end to another. As per the International Telecommunication Union (ITU), 51.2% of the world’s population was using internet in the year 2018 and the projected rise in the number of internet users in 2018 was nearly 45%. In addition, IEA (International Energy Agency) has predicted that the number of internet users will surpass 5 Bn by 2025. Prominent growth in Internet of Things (IoT) and cloud-based services are the prime factors that proliferates the growth of internet users across the globe.

Besides this, increasing application of wireless devices and communication system may hinder the market growth. Low cost of installation along with non-interference of different frequencies propels the demand for wireless communication system across the world. Nonetheless, rising investment in the broadband network infrastructure FTTx anticipated to offer lucrative growth opportunities for the market in the coming years.

Report Highlights

Regional Snapshots

In 2019, the Asia Pacific led the global fiber optics market with the largest revenue share and expected to forecast lucrative growth aspects by retaining its leading market position. Strong investment in network infrastructure development is prime factor behind the significant growth of the region. China was the largest contributor to the Asia Pacific fiber optics market in the year 2019.

However, India and other developing nations register high growth rate among the other Asian countries due to rapid penetration of IoT and smart devices. IoT market in India is poised to reach US$ 15 billion by the year 2020, accounting for nearly 5% of the global market. The country provides tremendous opportunity for the startups and investors to show their keen interest in the emerging market of IoT. The cumulative investment is predicted to be around US$ 60 million between years 2014 and 2016. In the similar fashion, Rest of Asia Pacific also offers significant opportunity for the fiber optics market over the forecast period. The prime reason behind the significant growth are increasing investment in embedded computing, lifestyle/wearables, connected homes, industrial internet, and many more segments.

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Key Players & Strategies

The global fiber optics market offers lucrative growth prospects for the market players owing changing trend and introduction of new technologies create new requirements for advanced fiber optic cables and other communication modes. Fiber optic manufacturers increasingly focus on product development and their regional expansion. For instance, in March 2018, Corning Inc. launched Corning TXF Optical Fiber that enable high-speed transmission of data over longer span for improved network flexibility along with low cost of the network.

Some of the prominent players in the fiber optics market include:

Segments Covered in the Report

This report analyses and projects market revenue and growth trend at global, regional, and country levels and offers an analysis of the modern industry developments in each of the sub-segments from 2016 to 2027. This report classifies global fiber optics market on the basis of product type, application, and region:

By Product Type

By Application

By Regional Outlook

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Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Why Buy this Report?

The purpose of Precedence Research’s fiber optics market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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