PUBLISHER: The Business Research Company | PRODUCT CODE: 1546481
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546481
Fiber optics are thin strands of glass or plastic fibers that transmit data using light pulses. Their applications span telecommunications, networking, and medical fields, leveraging their high bandwidth and long-distance capabilities. Compared to traditional metal wire cables, fiber optic cables offer superior performance, ensuring faster data transmission and increased resistance to electromagnetic interference.
In the fiber optics market, the primary types include single mode, multi-mode, and plastic optical fiber (POF). Single mode fiber optics transmit a single light mode, enabling high bandwidth and long-distance data transmission with minimal signal loss. They are deployed underground, underwater, and aerially, supporting various applications across sectors such as telecommunications, oil and gas, tunnels, medical, railways, and more.
The fiber optics market research report is one of a series of new reports from The Business Research Company that provides fiber optics market statistics, including the fiber optics industry global market size, regional shares, competitors with fiber optics market share, detailed fiber optics market segments, market trends, and opportunities, and any further data you may need to thrive in the fiber optics industry. These fiber optics market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fiber optics market size has grown strongly in recent years. It will grow from $7.26 billion in 2023 to $7.93 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The increase during the historical period was driven by energy efficiency improvements, urban population concentration, the expansion of fiber-to-the-home networks, the proliferation of the internet, and the rise in online transactions.
The fiber optics market size is expected to see strong growth in the next few years. It will grow to $11.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. Anticipated growth in the forecast period will be fueled by decreased costs of fiber optic components, expanded use of fiber optics in biomedical applications, heightened interest in space exploration and satellite communication, ongoing expansion of online education and remote learning. Key trends in the forecast period include a focus on eco-friendly technologies, the expansion of electric vehicles, advancements in telemedicine, industrial automation, and the role of fiber optics in supporting digital twins.
The fiber optics market is poised for growth driven by increasing demand for high-bandwidth communication. This demand refers to the rapid transmission of large data volumes across networks, facilitating efficient information exchange. Fiber optics achieve high bandwidth communication by transmitting data as light pulses through thin glass or plastic fibers, enabling long-distance transmission with minimal signal loss. For example, as of January 2023, 72% of UK premises had access to gigabit-capable broadband, up from 64% in 2022 and 36% in 2021, highlighting the market's expansion.
Leading firms in the fiber optics market are innovating with ultra-low loss (ULL) submarine optical fibers to enhance network reliability and performance. These advanced fibers are tailored for submarine communication systems spanning vast oceanic distances. Sumitomo Electric launched the 2C Z-PLUS Fiber ULL in October 2023, featuring two cores with the same exterior diameter as a standard single-core fiber, doubling transmission capacity. With a transmission loss of 0.158 dB/km at 1550 nm and minimal inter-core cross-talk, this fiber is ideal for submarine network systems, supporting regional and transoceanic applications.
In July 2023, Tempo Communications, a company specializing in communication product manufacturing based in the US, purchased Kingfisher International for an undisclosed sum. This acquisition is intended to enhance Tempo Communications' product offerings, offering customers a wider array of cutting-edge solutions for the installation, testing, and measurement of fiber optic networks. Kingfisher International, headquartered in Australia, is known for its expertise in manufacturing equipment designed for testing and measuring fiber optic systems.
Major companies operating in the fiber optics market are 3M Company, Sumitomo Electric Industries Ltd., Prysmian S.p.A., TE Connectivity Ltd., Corning Incorporated, Molex LLC, Amphenol Corporation, Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), Nexans S.A., Furukawa Electric Co. Ltd., CommScope Holding Company Inc., Fujikura Ltd., FiberHome Technologies Group, RS Components Pte Ltd, Lumentum Holdings Inc., Infinera Corporation, Viavi Solutions Inc., Hirose Electric Co. Ltd., Sterlite Technologies Limited, Glenair Inc., Applied Optoelectronics Inc., EMCORE Corporation, Optical Cable Corporation, Fibertronics Inc., Ratioplast Electronics H.Wiedemann GmbH
Asia-Pacific was the largest region in the fiber optics market in 2023. The regions covered in the fiber optics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fiber optics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fiber optics market consists of sales of fiber optic cables, connectors, transceivers, amplifiers, splitters, and enclosures. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fiber Optics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fiber optics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fiber optics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fiber optics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.