The global fiber optics market is anticipated to grow at a CAGR of around 5.0% during the forecast period. The fiber optics industry is driven by the growing demand for high bandwidth communication fueled with rising demand for high speed and data internet services. In addition, the growing digitalization across emerging economies such as China and India is driving industry growth. Due to its benefits that include greater bandwidth, faster speeds, longer distances, better reliability, thinner and sturdier, more flexibility and lower total cost of ownership, fiber optics highly utilized in IT &telecom, BFSI, medical and healthcare, and military and aerospace industry. In the future, technological advancement such as the deployment of 5G networks, Fiber to the Building (FTTB) and Fiber to the Home (FTTH) is creating enormous opportunities for the market.

The growth of the fiber optics market is driven considerably by rising internet usage across the globe due to high speed and transfer with large bandwidth. As well as digital transmission of data using optic fibers is growing more as compared to copper wires owing to speed, security, transfer capacity of fiber optics and higher reliability. This leads to the rising adoption of fiber optics in the telecommunication industry and for computer networking that is another factor fuelling the growth of the market. The key players in the market can capitalize on opportunities due to the rapid adoption of this technology in the IT and healthcare sectors due to increasing investment by different companies and improved infrastructure mainly in developed and developing countries.  

In addition, growing applications in a medical device such asX-ray, ophthalmic lasers, light therapy, and surgical endoscopy and microscopy is also creating opportunities for the global fiber optics market. The rising demand for minimally invasive surgeries is the factor that propels the demand in the fiber optics industry. However, fiber optics are more fragile than metal wires and are difficult to connect are the factors that hamper the growth of the fiber optics market during the forecast period. The increase of wireless communication technology and the high initial costs for deployment is another restraining factor for the growth of the fiber optics market during the forecast period. 

Segmental Outlook 

The global fiber optics market is segmented on the basis of cable type, and application. Based on the cable type, the market is sub-segmented into single-mode, multi-mode, and plastic. Based on application, the market is divided into BFSI, medical and healthcare, military and aerospace, IT& telecom, oil and gas, and others. 

IT & Telecom will be the largest segment by Application

IT & Telecom is anticipated to hold the largest market share in the fiber optics market during the forecast period owing to the growing adoption of the technology in communication and data transmission services.Fiber optics aids high-speed data transfer services in small and long-range communications. Moreover, rising cloud-based applications, Video-on-Demand (VoD) services, and audio-video services stimulate the demand. 

Global Fiber Optics Market Share by End-User, 2018 (%)

Regional Outlooks

The global fiber optics market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World.Asia-Pacific is anticipated to a significant market share in the fiber optics market during the forecast period due to advancements in technology and large scale adoption of technology in the IT and telecommunication industry and administrative sector. The growth can be attributed to rising application areas and large penetration of the technology in the manufacturing sector and improving the IT and telecom sector across the Asia-Pacific region. Moreover, the rising application of fiber optics in the medical sector is fuelling the growth across countries such as India, Japan, and China, therefore boosting the demand at a considerable rate.  

Global Fiber Optics Market Growth, by Region 2019-2025

North America will augment with a Considerable rate in the Fiber Optics market 

North America will augment with a considerable rate in the fiber optics market due to optic fibers use glass which is largely used for transmitting light over long distances that are boosting the growth of the fiber optics market. Moreover, an increase in the use of broadband technology is expected to fuel the fiber optics market in the region. 

Market Players Outlook

The key players of the fiber optics market include Corning, Inc., Fujikura, Ltd., OFS Fitel, LLC, Optical Cable Corp., Leoni AG, Finolex Cable Ltd., Hitachi Cable, Ltd., Prysmian Group, and Sterlite Technologies, Ltd. among others. These players are considerably contributing to the market by the adoption of various strategies including new product launch, merger, and acquisition, collaborations and technological advancements to stay competitive in the global market. For instance, in January 2018, Corning, Inc. opened a new cable manufacturing facility in Newton, North Carolina, to expand its Optical Communications business to meet growing demand across the globe for its optical fiber and cable. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global fiber optics market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.