The Fiber Optics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fiber Optics Global Market Report 2024, 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%. The growth in the forecast period can be attributed to reduction in costs of fiber optic components, use of fiber optics in biomedical applications, growing interest in space exploration and satellite communication, continued growth of online education and remote learning. Major trends in the forecast period include focus on eco-friendly technologies, expansion of electric vehicles, telemedicine, industrial automation, and fiber optics supporting digital twins.
The growing demand for high-bandwidth communication is expected to propel the growth of the fiber optics market going forward. High bandwidth communication refers to the transmission of data or signals at a fast rate, allowing for the efficient transfer of large amounts of information over a network or medium. High bandwidth communication is attributed to the rapid transmission of large amounts of data over networks, facilitating faster and more efficient information exchange. Fiber optics provide high bandwidth communication by transmitting data as light pulses through thin strands of glass or plastic fibers, enabling them to carry large amounts of information over long distances with minimal signal loss. For instance, in July 2023, according to the UK Parliament’s House of Commons Library, a UK-based government administration, as of January 2023, 72% of premises in the UK had access to gigabit-capable broadband, compared to 64% in January 2022 and a significant rise from 36% in January 2021. Therefore, the growing demand for high-bandwidth communication is driving the growth of the fiber optics market.
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The fiber optics market covered in this report is segmented –
1) By Type: Single Mode, Multi-Mode, Plastic Optical Fiber (POF)
2) By Deployment: Underground, Underwater, Aerial
3) By Application: Communication, Non-Communication
4) By Industry Vertical: Telecom, Oil And Gas, Tunnel, Medical, Railway, Other Industry Verticals
Major companies operating in the fiber optics market are developing ultra-low loss (ULL) submarine optical fibers to enhance the precision and efficiency of fiber optic cable installations and maintenance, improving network reliability and performance. Ultra-low loss (ULL) submarine optical fibers are advanced optical fibers designed for use in submarine communication systems that span vast distances across oceans. For instance, in October 2023, Sumitomo Electric, a Japan-based fiber optic cable manufacturing company, launched 2C Z-PLUS Fiber ULL. This novel fiber has two cores with the same exterior diameters as a standard single-core fiber, allowing transmission capacity to be twofold. The typical transmission loss at 1550 nm is 0.158 dB/km, making it an ultra-low loss fiber suitable for transoceanic undersea systems. Small counter-propagating inter-core cross-talk of -43 decibels or less. The 2C Z-PLUS Fiber ULL is ideal for various applications, including submarine network systems from regional to transoceanic distances.
The fiber optics market report table of contents includes:
1. Executive Summary
2. Fiber Optics Market Characteristics
3. Fiber Optics Market Trends And Strategies
4. Fiber Optics Market – Macro Economic Scenario
5. Global Fiber Optics Market Size and Growth
…
32. Global Fiber Optics Market Competitive Benchmarking
33. Global Fiber Optics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fiber Optics Market
35. Fiber Optics Market Future Outlook and Potential Analysis
36. Appendix
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