Chicago, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Fiber Optics Market by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application, and Region (North America, Europe, APAC, Rest of the World) - Global Forecast (2022-2027)", Key players in the fiber optics market include Corning Incorporated (US), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Yangtze Optical Fibre and Cable Joint Stock Limited Company (China) and Fujikura Ltd. (Japan).
The growth of this market is driven by factors such as growing internet penetration and data traffic, rising number of data center facilities worldwide, and mounting demand for high bandwidth.
- Expected Market - $8.2 Billion by 2027
- Projected to grow from - $4.9 billion in 2022
- At a CAGR – 10.9%
- Market size available for years - 2018-2027
- Base Year – 2021
- Forecast Period – 2022-2027
- Segments Covered - Fiber Type, Cable Type, Deployment, Application, and Region
- Geographic regions covered - North America, APAC, Europe, and RoW
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Browse in-depth TOC on “Fiber Optics Market”
210 - Tables
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Corning Incorporated (US) specializes in manufacturing specialty glass, ceramics, and optical products. It caters its products to customers from diversified market spaces such as aerospace & defense, architecture & design, automotive, consumer electronics, communications, life sciences, and optics industries. The company through its Optical Communications business segment is engaged in providing cables, optical fibers, and connectivity solutions. It extensively focuses on research and development activities.
In 2021, the company invested ~7.1% of the total revenue in R&D activities. It has a strong patent portfolio with over 12,150 patents worldwide, out of which, 4,350 are US patents. Adding to this, the company has 9,050 patent applications in the process as of December 2021. Strong manufacturing capabilities with over 119 manufacturing plants and processing facilities are also providing the company a competitive advantage in the fiber optics market.
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The growing adoption of 5G communication technology is revolutionizing the fiber optics industry. This technology is gaining more adoption across developing as well as developed economies such as Brazil, India, China, Japan, South Korea, US, Germany, France, the UK, among others. Implementation of 5G network requires high-bandwidth fiber optic cables for secure and reliable data transfers. Subsequently, the expansion of telecommunication infrastructure across developing as well as developed economies will drive the fiber optics market growth in the near future.
The market for aerial deployment segment is expected to grow at high rate during the forecast period. Aerial optical fibers are majorly insulated cables, which contain all fibers required for a telecommunication line. These cables are suspended between utility poles or electricity pylons and are majorly used for fiber to the home (FTTH) applications. These cable provides high flexibility, cost efficiency and provides high speed deployment rate, which increases its adoption among telecom operators.
In April 2022, Openreach Limited (UK) announced that it has installed full-fiber broadband to more than 7 million homes and businesses across the UK. The company reported that it was installing about 800 meters of cable every minute and covering more than 50,000 new homes and businesses every week. The deployment was majorly aerial type in the UK. The company also aims to deploy optical fiber to approximately 25 million premises by 2026. The high-speed deployment rate provided by aerial segment will fuel new market opportunities.
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Fiber Optic Components Market by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region (2022-2027)
