Adroit Market Research studied Global Fiber Optics Market Size by Type (Single mode and Multi-mode), by Material Type (Glass and Plastic), by Vertical (Telecommunication & Broadcasting, Networking infrastructure, Oil & Gas, Automotive, Defense & Aerospace, Healthcare, Rail networks, and Others) and by Region. The fiber optics market analysis includes value chain, Porter’s Five Forces analysis, market drivers, restraints, opportunities and key market developments of major players. We have estimated the global fiber optics market growth from 2018 to 2025 based on impactful developments in vital verticals. The study also includes fiber optics market size (USD million) by type, material type and vertical for major countries.
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By 2025, the global fiber optics market size is projected to grow to more than USD 30 billion owing to wider adoption by the telecommunication sector. Fiber optics is capable of offering higher bandwidth at reduced attenuation and is suitable for long-haul networks compared to copper wires. These benefits make fiber optics the ideal solution for deployment in 5G and fiber-to-the-home networks by telecoms and are further driving the global fiber optics market growth. Additionally, medical fiber optics application such as endoscopy and laser therapeutics are also expected to surge in demand during the estimated period driving the market growth of global fiber optics market.
The single mode fiber optics market will continue its dominance over multi-mode during the forecast period in global fiber optics market. Single mode fiber optics is capable of higher bandwidth data-transmission over long-haul networks. This is the reason it has been adopted widely in front and backhaul in the next generation of networks such as 5G and fiber to the home. Owing to the explosive growth of the next generation of networks, single mode is expected to have a share of more than 70% in the global fiber optics market.
By the end of 2025, the glass fiber optics segment is anticipated to have a share of >72% in the global fiber optics market as it has been widely deployed for transmission and communication of data. Characteristics such as larger bandwidth capabilities; immunity to interference from electromagnets, radio frequencies & external vibrations and light weight are projected to drive its applications in verticals such as telecom, oil & gas, military & defense and rail networks driving the growth of the global glass fiber optics market.
Increased demand for over the top services (OTT), internet of things (IoT), smart cities and other smart infrastructure has created numerous amount of data, is demanding a higher bandwidth network. Owing to which the telecommunication and broadcasting sector have been investing heavily in the fiber networks to support its high bandwidth networks such as 5G and fiber-to-the-home (FTTH). This coupled with government initiatives from European courtiers such as Spain, Germany and France to achieve the aim of gigabit society, is projected to further increase the fiber adoption in the telecommunication sector. Owing to investments by telecom players and government initiatives, fiber optics in telecommunication is expected to account to more than USD 16 billion by 2025 in the global fiber optics market.
Asia Pacific will continue to be the chief consumer in the global fiber optics market by 2025 and account for nearly half of the total share of the global fiber optics market size. Increased penetration and early adoption to fiber-to-the-home (FTTH) by countries like China, South Korea, and Japan initiated growth of fiber optics market in the region. Further, heavy investments in 5G networks coupled with government initiatives such as Digital China & Broadband China and smart city projects in China are expected to increase fiber optics demand in the region during the estimated period boosting the global fiber optics market.
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The global fiber optics market is dominated by players such as Corning Inc., The Prysmian Group, Sterlite Technologies Ltd., Leoni AG, Hitachi Cable Ltd., Birla Furukawa Fibre Optics Limited, YOFC, Optical Cable Corporation, and AFL Telecommunications LLC. Long-term strategic agreements with players from different verticals is a key strategy along with mergers and acquisition of players in global fiber optics market. In April 2017, Verizon Communications Inc. a player in telecommunication announced a three-year minimum purchase agreement with Corning Inc. The agreement calls for Corning Inc. to provide Verizon 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020.
Segment overview of global fiber optics market
Type Overview, 2015-2025 (USD million)
Single mode
Multi-mode
Material Type Overview, 2015-2025 (USD million)
Glass
Plastic
Application Overview, 2015-2025 (USD million)
Telecommunication and IT
Oil and gas
Automotive
Defense and aerospace
Healthcare
Rail network
Others
Regional Overview, 2015-2025 (USD million)
North America
U.S.
Canada
Europe
France
Germany
Spain
Rest of Europe
Asia Pacific
India
Japan
China
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Qatar
Rest of Middle East and Africa
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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