Fiber Optic Market Report Scope:
The growing preference for fiber optics especially in smart city projects will offer robust opportunities for the market over the forecast period. In the smart city environment, the interrelated and interconnected technologies play a crucial part to transfer, capture, and translate data into meaningful information for developing and strengthening urban infrastructure. The high-speed connectivity aids to deliver a huge amount of data from one part to the other through communications infrastructure.
According to a comprehensive research report by Market Research Future (MRFR), “Fiber Optic Market, By Components, Optical Fiber Type, Application, End Users- Forecast Till 2030” will touch USD 12.6 billion at a 10.7% CAGR by 2030.
Various factors are propelling the global fiber optic market share. As per the current MRFR report, such factors include burgeoning demand for communication having high bandwidth, development of network infrastructure, and growing opportunities, especially in the healthcare industry like biomedical sensing applications & endoscopic imaging applications.
On the flip side, the initial high investment for deployment, fragile nature, and demand for wireless communication technology are factors that may impede the global fiber optic market growth over the forecast period. Besides, the temporary shutdown of manufacturing facilities resulting in a slowdown in the production due to the ongoing COVID-19 pandemic is also impacting the market growth.
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Fiber Optic Market Growth Drivers
Advent of IoT to Boost Market Growth
The advent of the IoT has boosted the need for better connectivity and higher bandwidth in commercial office buildings and workplaces that will boost Fiber Optic market growth over the forecast period. Fiber optics is regarded the right solution as this offers a secure and reliable connection amid IoT device.
Restraints
Large Capital Expenditure to act as Market Restraint
The large capital expenditure and high cost related to the implementation of fiber may act as Fiber Optic market restraints over the forecast period.
Challenges
Stringent Regulations to act as Market Challenge
Stringent regulations and growing trend for wireless communication may act as market challenges over the forecast period.
Competitive Outlook:
Eminent contenders profiled in the global fiber optic market report include Extron Electronics (U.S.), TE Connectivity (Switzerland), L-com.com (U.S.), Geokon, Incorporated (U.S.), Pepperl+Fuchs (Germany), Avantes (U.S), Luna (U.S.), Anixter International (U.S), Molex Incorporated (U.S.), AFC Group (Australia), Birla Furukawa Fibre Optics (India), Corning INC. (U.S.), Infinera Corporation (U.S.), Prysmian Spa (Italy), Ofs Fitel, Llc (U.S.), Finolex Cable Limited (India), Fujikura Limited (Japan), Sterlite Technologies (India), and Optical Cable Corporation (U.S.), among others.
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Segmentation:
The MRFR report provides an inclusive segmental analysis of the global fiber optic market based on end users, applications, optical fiber type, and components.
By components, the global fiber optic market is segmented into amplifiers, transmitters and receivers, couplers, connectors, and others.
By optical fiber type, the global fiber optic market is segmented into plastics mode, multiple mode, and single-mode. Of these, the multiple mode segment will lead the market over the forecast period.
By applications, the global fiber optic market is segmented into sensors, premises, security, CATV, fiber optic lighting, and others.
By end users, the global fiber optic market is segmented into utilities, aerospace, military, and telecom and broadband. Of these, telecom and broadband segment will dominate the market over the forecast period.
Fiber Optic Market Regional Analysis
APAC to Spearhead Fiber Optic Market
During the said period, the Fiber Optic market in this region is expected to be the highest. APAC's rapid industrialization & infrastructure development have opened up a plethora of prospects for the use of fiber optics in a variety of applications. China, India, Japan, Australia, & South Korea are the largest fiber optics markets in APAC. China is the world's largest manufacturing hub and one of the most populous countries in terms of internet usage. Furthermore, China is the world's most populous country, resulting in an increase in applications such as communication, premises, CATV, utility, and industrial. Furthermore, as a result of the expanding industrial operations in the region, nations such as India & South Korea are seeing considerable growth rates. China has had the biggest demand for optical fiber cables in recent years.
Fiber has been placed in practically every telecom application in China, from intercity-intra-city to mobile cellular systems. Fiber optical systems are being adopted by Chinese government authorities & businesses in a variety of applications, including the pipelines, electric power grid, trains, motorways, airports, & data centres. In addition, the introduction of 5G is likely to boost fiber demand in China & other Asian countries in the future years. Due to increased usage of fiber optics in the IT and telecom sectors, Asia Pacific led the global fiber optics market with regards to revenue in 2019. Furthermore, by maintaining its leading market position during the coming years, the region presents a significant growth prospect. The region has strong growth prospects for new technology, which promotes demand for fiber optics.
Regional Analysis:
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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