The latest report by IMARC Group, titled “Fiber Optics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global fiber optics market reached a value of US$ 9.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2027, exhibiting at a CAGR of 17.7% during 2022-2027.
Fiber Optics Market Overview:
Fiber optics represent the thin cables that are usually used for transmitting data as pulses of light. They are generally manufactured from glass or plastic. Some of the commonly available fiber optics variants in the market include fiber-to-the-building (FTTB), fiber-to-the-home (FTTH), fiber-to-the-curb (FTTC), etc. As compared to traditional non-metallic cables, they offer higher bandwidth and faster internet connection. In line with this, these cables are not affected by electromagnetic interference and temperature fluctuations. Consequently, fiber optics find wide-ranging applications in several industries, such as telecommunications, oil and gas, healthcare, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Fiber Optics Market Trends:
The escalating demand for data transmission services and the rising penetration of high-speed internet connectivity are primarily driving the fiber optics market. Additionally, the launch of various favorable policies by government bodies across countries for the development of smart cities is further catalyzing the market growth. Besides this, the widespread adoption of this technology in medical procedures, including X-ray, surgical endoscopy and microscopy, ophthalmic lasers, light therapy, etc., is acting as another significant growth-inducing factor.
Moreover, the growing utilization of fiber optics that are integral for effectively transmitting data, voice messages, and images over a vast distance is also positively influencing the global market. Apart from this, the introduction of numerous advanced technologies, such as cloud computing and the Internet of Things (IoT), is anticipated to fuel the fiber optics market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Corning Inc.
- Prysmian Group
- AFL Global
- Sumitomo Electronics Industries (SEI)
- Ls Cable & System
- Leoni AG
- Furukawa Electric
- General Cable Corporation
Key Market Segmentation Breakup by:
- Single Mode
Optical Fiber Type:
- Oil and Gas
- Military and Aerospace
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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