“Fiber Optics Market projected to reach USD 5.00 billion by 2031”
The fiber optics market size is projected to reach USD 5.00 billion by 2031 at a CAGR of 9.8%.
The fiber optics market is driven by the increasing demand for the Internet and growing FTTx networks. The Internet has gained importance with the rising demand for cloud computing, data transfer & storage, and the Internet of Things (IoT). Advances in technology to meet the growing demands from the Internet are expected to provide high growth opportunities to the fiber optics market. However, growth in the wireless communication systems market is expected to be a restraint, which could hinder the growth of the fiber optics market as these are considered alternatives to the use of fiber optics.
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“Telecom–The largest application in fiber optics market”
The telecom segment is estimated to have been the largest application in the fiber optics market, in 2022. The mass utilization of digital technologies and applications by consumers, enterprises, and governments continues to drive the global telecom market. Positive trends in broadband and big data management are driving the growth of the telecom market. Factors such as increasing Internet user base, low-cost services offered by service providers, inexpensive communication devices, growing numbers of subscribers for various wireless as well as fixed-point communications are responsible for the growth of the fiber optics market.
“Middle East & Africa to be the fastest growing market in fiber optics”
Middle East & Africa is are projected to exhibit the fastest growth rate in the fiber optics market from 2022 to 2031. The growth of the fiber optics market in this region is mainly attributed to its increasing applications such as telecom, industrial, CATV, and sensors. The UAE, Saudi Arabia, and Iran are the most preferred destinations for major infrastructure projects in the region. All these activities are expected to create opportunities in fiber optics-based communication networks. The large-scale investments in the region, the high standards of living, and increasing residential, healthcare hospitals, commercial, manufacturing, and transport infrastructure are expected to lead to an increase in the demand for fiber optics.
Break-up of profiles by the primary participants for the report
• By Company Type – Tier 1–37%, Tier 2–50%, and Tier 3–13%
• By Designation – C Level– 50%, Director Level–31%, and Others–19%
• By Region – North America–32%, Europe–31%, Asia-Pacific–25%, Middle East & Africa–6%, and Latin America–6%
The fiber optics market is projected to grow at a high rate from 2022 to 2031. The companies profiled in this report include Corning Inc. (U.S.), Prysmian Group (Italy), AFL Global (U.S.), Finisar Corporation (U.S.), Leoni AG (Germany), Furukawa Electric Co., Ltd. (Japan), LS Cable & System Ltd. (South Korea), General Cable Corporation (U.S.), and Finolex Group (India), among others.
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The fiber optics market for this study is segmented on the basis of cable type, optical fiber type, and application. The cable type segment is further bifurcated into single mode and multi-mode; and optical fiber type segment is further subsegmented into glass and plastic optical fiber type. The applications for this report include telecom, premises, utility, cable antenna television (CATV), military, industrial, sensors, fiber optic lighting, and others such as security and metropolitan.
Key benefits of buying the report
This research report is focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the fiber optics market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on fiber optics offered by the top players in the global fiber optics market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the fiber optics market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for fiber optics across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global fiber optics market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the fiber optics market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:Lauren Brown
Shibuya Data Count
Tel: + 81 50 50509159
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