Fiber Optics Market Size Expected to Reach USD 13.55 Billion at CAGR of 10.5%, In 2028

Fiber Optics Market size: USD 6.10 Billion in 2020, Market Growth: CAGR of 10.5% Market Trends: Rapidly increasing digital literacy across the globe

NEW YORK, NY, UNITED STATES, October 12, 2021 /EINPresswire.com/ -- Rapid developments in the fiber optic cable technology, increasing adoption of Internet of Things (IoT), and increasing demand for high-speed internet across the globe are key factors fueling market revenue growth  

The global Fiber Optics Market size is expected to reach USD 2472.9 Million in 2028 and register a steady CAGR of 10.5%, according to the latest report by Reports and Data. Key factors driving global market revenue growth are high adoption of Fiber to the Home (FTTH), Fiber to the Building (FTTB) and 5G network, increasing investments in optical fiber cable network and increasing demand for fiber optics in the medical sector for various applications such as x-ray imaging, remote spectrophotometry and surgical endoscopy. 

Fiber optics are transparent, flexible cables made up of glass or plastic that transmit light between two ends of the fiber and are widely used in fiber optic communications. These are preferred over copper electronic cables due to higher bandwidths and transmission over long distances. Factors such as rapid growth in the IT and telecommunication sector, increasing penetration of smartphones, high usage of fiber optics in various sectors such as oil and gas, military, utilities, and increasing investments in fiber optics technology are boosting segment revenue growth. In addition, increasing adoption of Over the Top (OTT) platforms, video streaming, and CATV are supporting the growth of fiber optics market.  However, high installation prices and high demand for wireless communication services and products are expected to hamper growth of the global fiber optics market throughout the forecast period.   

Major companies in the fiber optics market include Prysmian Group, HTGD, Furukawa, Corning Incorporated, Yangtze Optical Fiber, and Cable Co., Ltd. (YOFC)., Futong, Fujikura, Sumitomo, Tongding, CommScope, Sterlite Technologies Limited, FiberHome, Jiangsu Etern, ZTT, General Cable, Belden, Fasten, Nexans, Kaile, LS, Optical Cable Corporation (OCC) and Finolex Cables Limited.

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Some key highlights in the report:

• Based on cable type, the single-mode cable segment is expected to account for largest revenue share over the forecast period. Single-mode cables offer higher bandwidth and data transmission and are widely used in various telecommunication applications, CATV, and internet networks.
• Based on optical fiber type, the plastic segment is expected to register fastest revenue growth between 2021 and 2028. Plastic optical fibers are preferred over glass optical fibers as these are less expensive, highly flexible, and lighter in weight. In addition, these can withstand extreme temperatures and can absorb shocks and vibrations.
• Among the end use segments, the IT and telecom segment is expected to register rapid revenue growth during the forecast period owing to increasing demand for faster speed connectivity, increasing penetration of smartphones and internet, and technological advancements in the IT and telecom sector.
• Asia Pacific is expected to register robust revenue CAGR throughout the forecast period owing to rapid developments in the IT and telecom industry, high penetration of internet and OTT platforms, rising trend of 4K streaming and video conferencing, and increasing demand for fiber optics across various industrial sectors and medical industry. India, China and Japan are key contributors in Asia Pacific.
• North America is expected to account for largest revenue share over the forecast period. Factors such as increasing penetration of internet, high adoption of 5G network, Internet of Things (IoT), and FTTH and increasing adoption of fiber optics in healthcare, telecommunication, and defense sector and emergence of companies are key factors boosting market growth in North America.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/fiber-optics-market

For this study, Reports and Data has segmented the fiber optics market based on cable type, optical fiber type, end use, and region: 

Cable Type Outlook (Revenue, USD Billion; 2018-2028)

Single-mode Cable
Multi-mode Cable

Optical Fiber Type Outlook (Revenue, USD Billion; 2018-2028)

Plastics Optical Fiber
Glass Optical Fiber

End Use Outlook (Revenue, USD Billion; 2018-2028)

IT and Telecom
BFSI
Defense and Aerospace
Healthcare
Manufacturing
Government
Others

Regional Outlook (Revenue, USD Billion; 2018-2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Market Report includes major TOC points:

• Fiber Optics market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Fiber Optics market Forecast

Conclusively, all aspects of the Fiber Optics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Tushar Rajput
Reports and Data
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