Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Next-Gen Optical Fiber (Multicore & Hollow Core) Market Outlook to 2031" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific next-generation optical fiber market is projected to reach $104.3 million by 2031 from $17.3 million in 2022, growing at a CAGR of 22.1% during the forecast period 2022-2031. With the growing demand from end-user industries such telecommunications, information technology, medical devices, aerospace and defense, among others, it is expected that the need for next-generation optical fiber would increase.
Moreover, it is projected that the market for next-generation optical fiber (multicore and hollow core fiber) will continue to grow during the projected period of 2022-2031, driven by the telecommunications industry's increasing adoption of these fibers as well as the growing demand for information technology products in several emerging economies, such as China and India. The next generation of optical fibers has more complicated designs and experience power attenuation, which is driving up component and installation costs. Additionally, the lack of qualified workers in the optical sector is working as a challenge to the growth. 
Trends: Current and Future
- Increasing Demand for 5G Mobile Networks
- Growing Demand in Laser and Sensing Applications
Business Dynamics
- Business Drivers
- Growing Demand for Cloud Computing and Data Centers
- Growing Demand in Biomedical Applications
- Growing Demand for Microelectronics
- Business Challenges
- High Installation Cost
- Lack of Skilled Workforce
- Business Strategies
- Product Developments
- Market Developments
- Corporate Strategies
- Mergers, Acquisitions, Partnerships, and Joint Ventures
- Business Opportunities
- Growing Investments in Defense and Security Industry
- Increasing Interest in the Space Industry
- Rising Need for Higher-Speed and Larger-Capacity Transmission Systems (Telecom Transmission)
Market Introduction
The need for next-generation optical fibers, such as hollow core and multicore fiber, is rising in the Asia-Pacific region. These cutting-edge optical fibers are widely sought after in a variety of industries, including information technology, aerospace and defense, medical, and telecommunications, since they provide improved data transmission capabilities with lower attenuation, dispersion, and distortion.
Particularly in the telecommunications sector, next-generation optical fibers have been widely used, opening doors for both established firms and fresh competitors. In the near future, it is anticipated that the influence of these advanced fibers on end-user sectors would increase from moderate to high as their application spreads throughout various industries. As the APAC region's industries - including telecommunications, medical, aerospace and defense, and information technology - become more and more prevalent, the demand and impact of next-generation optical fibers are anticipated to increase further.
Market Segmentation
Segmentation 1: by End User
- Telecommunication
- Medical
- Aerospace and Defense
- Information Technology
- Others
Segmentation 2: by Material Type
- Glass
- Plastic
Segmentation 3: by Product Type
- Multicore Fiber
- Hollow Core Fiber
Segmentation 4: by Country
- Japan
- India
- South Korea
- Rest-of-Asia-Pacific and Japan
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration. Some of the prominent names established in this market are:
- NEC Corporation
- Sintec Optronics Pte. Ltd.
- Sterlite Technologies Limited
- Sumitomo Electric Industries, Ltd.
- Asahi Kasei Corporation
- Zhongshan Meisu Technology Co. Ltd.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific next-generation optical fiber market?
- Which applications (by end users) and products (by product type, by material type) segments are leading in terms of consumption of the next-generation optical fiber market, and which of them are expected to witness high demand growth during 2021-2031?
- Who are the prominent players catering to the demand for the next-generation optical fiber market, and what are the key offerings?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 96 |
| Forecast Period | 2022-2031 |
| Estimated Market Value (USD) in 2022 | $17.3 Million |
| Forecasted Market Value (USD) by 2031 | $104.3 Million |
| Compound Annual Growth Rate | 22.1% |
| Regions Covered | Asia Pacific |
For more information about this report visit https://www.researchandmarkets.com/r/6slbo4
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