ID: MRFR/SEM/0663-HCR | February 2021 | Region: Global | 100 pages
There are many organizations like Optical Cable Corporation (U.S.), Sterlite Technologies (India), Fujikura Limited (Japan), etc. are the major providers of fiber optics; these companies take a maximum share of the Fiber Optic Market Share in the global market. In the year 2016 (August), an MNC named Infinera Corporation collaborated with Lumentum Holdings Inc. to develop together an Intelligent Transport Network DWDM platform that integrated with an advanced white box optical line system. With this pairing, the major enterprises are operating in a large and open optical networking modern environment. These companies have constructed a simulated point-to-point modern and advanced metro fiber network with the ambition of bringing together the concept of open networking in the public market.
There is immense growth as the Fiber Optic Market Size is increasing. The expanding opportunities in the private healthcare sector, such as endoscopic imaging advanced applications and biomedical sensing, are the leading applications that are promoting the market growth of fiber optics. The primary development of network infrastructure has propelled the rapid fiber optics market growth to a major extent. The world market is dominated by the high bandwidth communication for major distances via high-quality optical fiber, which is for achieving demand in the fiber optic world’s market. The major fiber optics clearly offers supreme quality bandwidth that allows more data to be conveyed at the earliest. The world’s fiber-optic market is projected to rise at an estimated revenue of USD ~6 billion by 2023, at a total CAGR of ~10% during the estimated period of 2017-2023.
COVID 19 Impacts and effects
The Fiber Optic Market Sizehas been hit badly during the COVID-19 pandemic, and this has made a huge windfall for the latest fiber optic network market. The market has been dominated by many primary key companies. These enterprises have their manufacturing plants and corporate head offices spreading at all the major locations of various countries across Asia Pacific, European region, North America, and the rest of the world. The majority of the modern, global fiber optics market that is made by these enterprises is bought by different stakeholders for multiple applications. The COVID-19 has influenced the operations of the many prime manufacturer's companies heavily but also badly influenced the profit of their stakeholders like suppliers and distributors.
The actual fiber optical cable market is estimated to achieve a revenue of USD 3.47 billion by 2023, at an estimated CAGR of 15.47% between 2017 and 2023. The study primarily has involved 4 primary steps in projecting the actual proper size of the market. According to the fiber optic cable market report, the fiber optics market is primarily run by the rising demand for internet and expanding need for Fiber To The x (FTTx). The field of the internet is an interconnected network of global systems of connected devices. Fiber optics are the basic component of the worldwide internet; optical fiber cable is managed as the mode for transferring information from one point to another. According to the study of the International Telecommunication Union (ITU), around 51.2% of the global population was making use of the internet in 2018. The major growth rate of the number of internet subscribers was around approximately 45% in the same year. The rate of the growing importance of the concept of cloud computing, advanced data transfer and storage, and the Internet of Things (IoT) is spreading the use of the internet.
The fiber industry trends are booming like never before. It is a global marketplace. It is an integrated platform. There are plenty of small and medium enterprises (SMEs) associated with this. The Fiber Optic Market Forecast is performing fantastic. Leading companies primarily focusing on this field are doing mergers and acquisitions for focusing on relevant untapped markets and product innovation. For example, Optical Cable Corporation (U.S.), Sterlite Technologies (India), and many other MNC like to innovate new products and their development. Prime companies are financing research and development activities to augment usability and develop new innovative products.
There is always a fear in the global touchless market. Due to this fact, touchless technology products are evolving every day and trying to combat their negative sides. With the lack of awareness of the industry about the governance of the Touchless sensing Market, the companies are focusing on the untapped market. That is the reason many companies are advised to be monitored continuously in their operations to lower the risks and improve the standard manufacturing features.
After the detailed Fiber Optics Market Analysis, there are few constraints that are clearly visible in the study. There are a large number of factors that have contributed to the expansion of the recent global digital signage market. Apart from this, the major demand for various marketing mediums has also forced the highly efficient manufacturers to invent a highly precise fiber market overview. However, high manufacturing costs that are needed for the design and development of optical fiber technology are hampering the growth of the worldwide market.
The primary fiber optic industry outlook and all over the globe has claimed to have a CAGR of 7% over the estimated. The demand for this concept has risen because companies are conscious now. The Asian and North American countries are focusing on expanding the production to meet the targets and deal with innovative technologies effectively. The global fiber optic cable has a total size of USD 4 billion in the year 2023.
The leading manufacturers of fiber optic connector is Carlisle Companies Incorporated (U.S), RF industries (U.S.), Fiber connection Inc. (Canada), and Optec Technology Limited (Hong Kong); a Few years back in 2015, a company named RF Industries acquired Comnet Telecom Supply to expand and spread its fiber-optic cabling networking capabilities across the world. Comnet is making network cable products that include copper and fiber-optic assemblies at reasonable prices. The features like multimode cables are gaining popularity in the market and are due to their affordable less cost, and it makes it easy to work with other definite optical components popularly known as fiber connector, advanced fiber adapter, and others. The rising demand for fiber optic cable accumulated because of its greater bandwidth, awesome fast speed over a short distance at the low prime cost, which is boosting and promoting the market growth to a large extent.
The global fiber optic market is divided:
The components are divided into:
The optical fiber type is further divided:
The applications are divided into:
The end users are again segregated into telecom & broadband, general military, aerospace industry, utilities, and others.
Companies are creating new avenues, and there is an increase in the demand as per the Fiber Optic Market Report, it is showing many healthy trends. The processes are dynamic now; primarily, technology is evolving every day. To meet the supply chain and to meet the global Fiber Optic Market Demand now, the companies are getting agreement to grow together.
The prominent players, who have the maximum ownership in the Fiber Optic Market Share, use the technology in various fields:
Internal audiences that are operating in the digital signage industry are:
The regional analysis of Fiber Optics Market Analysis assemblies reflects that regions such as Asia Pacific, North America, Europe, and the Rest of the World are growing a lot. North America is the largest leader across the world in terms of global market share in the fiber optic cable assemblies market as it has plenty of demand as it provides its users much greater bandwidth. The modern fiber optic cable assemblies market in the European region is estimated to witness fast growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan, and India is an upcoming market for fiber optic future demand and expected to generate the highest CAGR in the coming years.
|Market Size||USD ~6 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Components, Optical Fiber Type, Application, End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Optical Cable Corporation (U.S.), Sterlite Technologies (India), Fujikura Limited (Japan), Finolex Cable Limited (India), Ofs Fitel, Llc (U.S.), Prysmian Spa (Italy), Infinera Corporation (U.S.), Corning INC. (U.S.), Birla Furukawa Fibre Optics (India), AFC Group (Australia), Molex Incorporated (U.S), Anixter International (U.S), Luna (U.S), Avantes (U.S), Pepperl+Fuchs (Germany), Geokon, Incorporated (U.S), L-com.com (U.S), TE Connectivity (Switzerland), Extron Electronics (U.S)|
|Key Market Opportunities||Prime companies are financing research and development activities to augment usability and develop new innovative products.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global fiber optic market is anticipated to account for a substantial revenue generation of USD 6 billion by 2024, expanding at a considerable CAGR of 10% over the review period (2017-2023).
The major market players operating in the global fiber optic market include Optical Cable Corporation (U.S.), Fujikura Limited (Japan), Sterlite Technologies (India), Finolex Cable Limited (India), Prysmian Spa (Italy), Ofs Fitel, Llc (U.S.), Infinera Corporation (U.S.), Birla Furukawa Fibre Optics (India), Corning INC. (U.S.), AFC Group (Australia), Anixter International (U.S), Molex Incorporated (U.S.), Luna (U.S.), Avantes (U.S), Geokon, Incorporated (U.S.), Pepperl+Fuchs (Germany), L-com.com (U.S.), Extron Electronics (U.S.), TE Connectivity (Switzerland), and among others
The global fiber optic market segmentation is conducted based on types of fiber optics, components applications, and end-users.
The regional analysis of the global fiber optic market is conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (covering the Middle East and Africa, and Latin America).
The North American region in the global fiber optic market is expected to lead the market share over the review period, while the report predicts the fastest growth in the Asia Pacific.