BANGALORE, India, June 25, 2021 /PRNewswire/ -- The Fiber Optics Market is Segmented by Type (Multi-Mode Fiber Optics, Single-Mode Fiber Optics), by Application (IT and Telecoms, Medical, Robotics). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on Valuates Reports in the Electronics & Electrical Category.
The global Fiber Optics market size is projected to reach USD 14500 Million by 2026, from USD 10430 Million in 2019, at a CAGR of 7.8% during 2021-2026.
Major factors driving the growth of the fiber optics market are:
The demand for the internet across the globe, coupled with the rising need for FTTx, is the major factor driving.
Widespread implementation of 5G, increase in adoption of fiber to the home (FTTH) connectivity, and the emergence of the internet of things (IoT) act as major drivers of the market.
Growing demand for Internet bandwidth due to increased use of various bandwidth-intensive consumer services, such as video on demand, music streaming and video conferencing is expected to drive fiber optics market growth
TRENDS INFLUENCING THE GROWTH OF FIBER OPTICS INDUSTRY
The demand for more data and better coverage across the world is on the rise among consumers and is expected to drive the growth of fiber optics market size. The 5th generation wireless connection is predicted to be the next technological leap forward since it will be able to send more data while maintaining a more stable and reliable connection. Heavy-duty fiber optics networks, which affect both the wireless and wireline sides of the infrastructure, have a significant impact on the characteristics of 5G, such as high data speeds and throughputs.
An increase in the adoption of fiber to the home (FTTH) connectivity is expected to increase the growth of the fiber optics market size. FTTH (fiber-to-the-home) is a popular integrated communication technology that uses fiber optics to provide quicker and more effective communication. Optical fiber wires connect households to the operator in this technique. It is the most advanced technology available for constructing the next generation of communication networks.
The increasing use of fiber optics in the medical industry is expected to drive the growth of the fiber optics market size. Fiber's physical properties make it a natural choice for a wide range of applications. Fiber optics are an extremely compact, flexible conduit for light or data transfer in equipment, surgical, and instrumentation applications. They are commonly used for lighting, flexible image bundles, light conductors, flexible light guides, laser delivery systems, and equipment interconnects.
Based on application, IT and Telecoms was the most widely used area which took up about 83% of the global total in 2019.
Because of the growing use of mobile devices and the associated bandwidth connectivity, the industry is fast expanding. The telecommunications business is being driven by positive market trends in broadband services and big data management.
Based on type, Single-Mode Optical Fiber is the most widely used type which took up about 98 % of the total in 2019.
Based on region, APAC has been the largest region of Fiber Optics in the world in the past few years and it will keep increasing in the next few years.
APAC market took up about 52% of the global market in 2019, while Americas and Europe were about 26%, 16%.
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- The India optical fiber and accessories Market was valued at USD 461.6 Million in 2018 and is projected to reach USD 1.66 Million by 2026, growing at a CAGR of 17.2% from 2019 to 2026. The East region would exhibit the highest CAGR of 23.3% during 2019-2026.
- Fiber Optic Cable Market is projected to reach USD 7716.8 Million by 2027, from USD 4994.5 Million in 2020, at a CAGR of 6.3% during 2021-2027.
- Fiber Optic Connector Market is projected to reach USD 3275.6 Million by 2027, from USD 2955.3 Million in 2020, at a CAGR of 1.7% during 2021-2027. With a market share of 68 percent in terms of production, Asia is the largest market for fiber optic connections. China and Taiwan, with a 44 percent market share in Asia over the same period, were the greatest consumers in terms of consumption volume, followed by Japan and Korea. The production and consumption growth rates in India and Southeast Asia are both high. The leading manufacturers include CommScope, Amphenol, Molex and Sumitomo Electric, FIT and China Fiber Optic etc. (FIT is the largest foundry in the world).
- Fiber Optics Testing Device Market is segmented by Type Single-Mode, Multimode-Mode, by Application Cable Television, Military and Aerospace, Manufacturing and by various regions.
- Distributed Fiber Optic Sensor Market: North America was the largest market for distributed fiber optic sensors in 2017 and accounted for 31.1% market share of the global distributed fiber optic sensor market in 2017.
- Fiber Optics Gyroscope Market is projected to reach USD 804.9 Million by 2026, from USD 780.2 Million in 2020, at a CAGR of 2.9% during 2021-2026.
- Single-Mode Optical Fiber (SMF) Market is segmented by Type Quartz Optical Fiber Cables, Multicomponent Glass Fiber Cables, Plastic Optical Fiber Cables, by Application Telecommunication & Networking, Data Centers, Community Antenna Television, Factory Automation & Industrial Networking, Military and by various regions.
- Multimode Optical Fiber Patch Cord Market is segmented by Type FC Type Fiber Patch Cord, ST Type Fiber Patch Cord, SC Type Fiber Patch Cord, LC Type Fiber Patch Cord, by Application Optical Data Network, Telecommunication, Military & Aerospace and by various regions.
- Fiber Optic Patch Cables Sales Market is segmented by Application Fiber Optical Communication System, Fiber-Optic Data Transmission, Local Area Network (LAN), Fiber Optic Sensor and by various regions.
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