Dallas, Texas, Sept. 30, 2019 (GLOBE NEWSWIRE) -- The “Global Fiber Optics Market Size by Type (Single mode and Multi-mode), By Material Type (Glass and Plastic), By Vertical (Telecommunication & IT, Oil & Gas, Automotive, Defense & Aerospace, Healthcare, Rail networks and Others) and By Region (North America, Europe, Asia Pacific, Latin America and MEA)” study provides an elaborative view of historic, present and forecasted market estimates.
The global fiber optics market is projected to reach USD 34.23 billion by 2025 growing at a CAGR of 20.6%. The market is primarily driven by the increasing adoption of fiber optics in telecommunication and networking. Additionally, emerging medical fiber optics application such as endoscopy and laser therapeutics are also expected to surge in demand driving the growth of global fiber optics market by 2025.
The global fiber optics market qualitative study includes value chain analysis, Porter’s five forces analysis; market drivers, restraints, opportunities and key market developments of major players. This coupled with impactful developments in industry verticals, we have estimated the global fiber optics market growth from 2018 to 2025. The study also includes fiber optics market size (USD million) by type, material type and vertical for major countries. Further, the market study provides an in-depth analysis of the strategic framework of the key players in the global fiber optics market.
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The considerable reduction in transmission losses for communication and networking coupled with the technological developments in the automotive, medical, and military application are bringing remarkable growth opportunities for the fiber optics market. Fiber optics can offer higher bandwidth communication capabilities at low attenuation and is more optimal in long-haul networks compared to copper. This is the reason it has been deployed in 5G and fiber to the home networks by telecommunication companies globally. Owing to this, fiber optics market is expected to showcase a strong growth during the forecast period.
Based on the fiber type, single mode fiber optics is projected to continue its supremacy over multi-mode in global fiber optics market by 2025. Single mode fiber optics offers higher bandwidth data-transmission over long-haul networks is the reason it has been widely adopted in the next generation of networks such as fiber to the home and 5G. Owing to this surging adoption, single mode fiber optics is expected to have a share of ~ 74% in the global fiber optics market by 2025.
Based on the type of material, the glass fiber optics is estimated to grow with the fastest CAGR of 20.9% by 2025 in the global fiber optics market. This growth is expected as glass fiber optics is being widely deployed for communication and transmission of data in long haul networks. Characteristics such as immunity to interference from electromagnets, radio frequencies and external vibrations coupled with larger bandwidth capabilities & lightweight are projected to boost its applications in industries such military & defense, telecommunication and networking, oil & gas and rail networks.
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Growing demand for over the top services (OTT), internet of things (IoT) products, smart cities projects and other smart infrastructure is creating large data. This increasing data is demanding a higher bandwidth network, owing to which the telecommunication and IT sector is heavily investing in the fiber networks to build high bandwidth networks such as fiber to the home (FTTH) and 5G. The above coupled with pouring government initiatives from courtiers such as France, Spain and Germany in Europe to accomplish the aim of gigabit society, is further increasing the fiber adoption in the telecommunication sector. Thus, fiber optics in the telecommunication industry is expected to account USD 18.54 billion by 2025 in the global fiber optics market.
North America fiber optics market is projected to grow at a CAGR of 21.62% during the forecast period. The growth trends in the region are dominated by the United States. In the U.S. the telecommunication and broadcasting industry is the biggest buyer of fiber optics as the conventional copper network is being replaced by fiber optics for 5G and FTTH services. Use of fiber optics in telecommunication and broadcasting is expected to surge during the forecast period as private players as well as government initiatives are focused on increasing the fiber adoption. For instance, in January 2018, President Donald Trump signed an executive order. The order intends to make the process of establishing a fiber network easy for private players, especially in rural and farm areas. The order aims to establish policies to get government out of the way and let private companies in the FTTH market complete the deployment of fiber links that shall offer high-speed internet services.
The key players in the global fiber optics market are The Prysmian Group, Corning Inc., Leoni AG, Hitachi Cable Ltd, Birla Furukawa Fibre Optics Limited, Sterlite Technologies Ltd., AFL Telecommunications LLC, YOFC and Optical Cable Corporation. The players in the market focusing on long term strategic agreements with players from the telecommunication industry coupled with mergers and acquisition to strengthen their market position. For instance, in April 2017, Verizon Communications Inc. a player in telecommunication announced a three-year minimum purchase agreement with Corning Incorporated. The agreement calls for Corning to provide Verizon 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020.
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Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Fiber Optics Market Overview, By Type
Chapter 5. Global Fiber Optics Market Overview, By Material Type
Chapter 6. Global Fiber Optics Market Overview, By Vertical
Chapter 7. Global Fiber Optics Market Overview, By Region
Chapter 8. Industry Structure
Chapter 9. Company Profiles
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