SAN FRANCISCO, Aug. 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Fiber Optics - Global Market Trajectory & Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 7; Released: May 2021 Executive Pool: 11288 Companies: 95 - Players covered include AFL; Birla Furukawa Fiber Optics Limited; Corning Incorporated; Finolex Cables Limited; Furukawa Electric Co. Ltd.; General Cable Corporation; General Cable Technologies Corporation; Hewlett Packard Enterprise Company; IBM Corporation; Leoni AG; LS Cable & System; OFS Fitel, LLC; Optical Cable Corporation (OCC); Oracle Corporation; Prysmian Group; Sterlite Technologies Limited; Sumitomo Electric Industries, Ltd; Yangtze Optical Fiber and Cable Co., Ltd. (YOFC) and Others. Coverage: All major geographies and key segments Segments: Cable Type (Single mode, Multi-mode); Fiber Type (Glass Optical Fiber, Plastics Optical Fiber); Application (Communication, Non-Communication) Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Fiber Optics Market to Reach $8 Billion by 2026Fiber optic technology is embraced all over the world due to its innate advantages over the conventionally used copper. Growth in the global market is set to receive a major stimulus from increasing demand for high-bandwidth connectivity to support high-speed data transmission, technological advances, emerging applications and high uptake across smart cities. Optical fibers have emerged as a compelling technology in the modern era characterized by robust demand for high bandwidth and high-speed data transfer. The technology has radically transformed data, video and voice transmission. Fiber-powered Internet offers higher bandwidth to users for seamless and heavy data transfer to support various applications including TV show or movie streaming, video conferencing and online gaming, providing a significant push to the fiber optics market. The market expansion is also facilitated by strong demand for high-speed Internet within the communication and IT sectors along with rising focus on Fiber to the X (FTTx). Ongoing advances in the field of telecommunications are likely to further push investments in broadband network architectures and bolster the market growth.
Amid the COVID-19 crisis, the global market for Fiber Optics estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 9.3% over the analysis period. Single Mode, one of the segments analyzed in the report, is projected to grow at a 9.5% CAGR to reach US$6.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Multi Mode segment is readjusted to a revised 8.7% CAGR for the next 7-year period. This segment currently accounts for a 24.1% share of the global Fiber Optics market. The single mode product variant, likely to witness considerable growth, is utilized for long distance installations that range from 2 meters - 10,000 meters. Despite being more expensive as compared to plastic and multimode optical fibers, the single mode segment offers lesser loss of power as compared to plastic and multimode optical fibers.
The U.S. Market is Estimated at $715 Million in 2021, While China is Forecast to Reach $2.3 Billion by 2026The Fiber Optics market in the U.S. is estimated at US$715 Million in the year 2021. The country currently accounts for a 13.89% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.3 Billion in the year 2026 trailing a CAGR of 11.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.9% and 7.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR while Rest of European market (as defined in the study) will reach US$2.5 Billion by the end of the analysis period. North America and Europe together claim a large revenue share of the global market due to increasing demand for high-capacity networks and the presence of data-driven industries. IT solution providers and other players requiring high-speed Internet connections in these regions are investing in optical fiber networks to support mobile and fixed telephony services. Asia-Pacific is estimated to emerge as a prominent market in the coming years on account of increasing infrastructural development projects and rapid industrialization, providing a notable impetus to the fiber optics technology to support a comprehensive spectrum of applications. Telecom operators across China are deploying optical fibers for different applications and supporting intra-city, intercity and mobile cellular systems. Optical fibers systems are also witnessing increasing uptake in China for other applications including airports, railways, highways, pipelines, power grid, and data centers. More
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SOURCE Global Industry Analysts, Inc.