Global Fiber Optics Market is anticipated to reach USD 9.12 billion by 2025. Fiber Optics are extensively used in the biomedical and medical fields in the form of sensors, laser delivery systems, imaging, and illumination. Insensitivity to electromagnetic disturbance and small dimensions of the fiber makes it the most important and dominant application in medicine.
The factors that propel the growth of the fiber optics industry include growing demand from Internet-based applications such the over-the-top content, the Internet of Things, and video streaming. On the other hand, some factors may hamper the growth of the market including higher costs compared to coaxial cable. The Fiber Optics Market is anticipated to grow at a significant CAGR of 5.2% in the upcoming period as the scope, product types, and applications are increasing across the globe.
The fiber optics industry may be explored by type, application, optical fiber type, and geography. The market may be explored by type as Multimode, Plastic Optical Fiber (POF), and Single Mode. The “Single-Mode Optical Fiber” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 due to growing demand for single-mode cable in the country.
The key applications that could be explored in the fiber optics market include Communications may include Premises, Telecom, Utility, Military, CATV, Industrial, Metropolitan, and Security, Non-communications may comprise Fiber Optic Lighting, and Sensors. The “Cable Antenna Television (CATV)” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to the use of flexible government taxation policies, high definition content, and rapid technological advancements in products & products offerings.
The fiber optics industry could be explored based on optical fiber types as Plastics optical fiber, and Glass optical fiber. The “Glass optical fiber” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to rapidly increasing telecom applications in developing economies, efforts being taken by administrations of several countries to surge network connectivity, and shifting customer inclinations.
Asia-Pacific accounted for the major share of the Fiber Optics Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increased industrialization, the rising telecom industry, and a rise in demand for the internet from developing countries.
Some of the key players that fuel the growth of the fiber optics industry comprise Hindustan Cables Limited, Simco-Groups., Optical Cable Corporation, The Lapp Group, and OFS Fitel, LLC. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures to boost the inorganic growth of the industry.
Type Outlook (Revenue, USD Million; 2014 - 2025)
• Single Mode
• Plastic Optical Fiber (POF)
Application Outlook (Revenue, USD Million; 2014 - 2025)
• Oil & Gas
• Material Sensing
• High Bandwidth Communications
• Military & Aerospace
• Secure Communication
• Weapon System
• Surveillance System
• Optical Computing
• Military Vehicle Sensing
• Biomedical Sensing
• Minimal Invasive Surgery
• Railway Maintenance
• Speed Monitoring
• Dynamic Load Calculation
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• South America
Research Support Specialist, USA
FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...