Global Fiber Optics Market is anticipated to reach USD 9.12 billion by 2025. Fiber Optics are extensively used in biomedical and medical field in the form of sensors, laser delivery systems, imaging, and illumination. Insensitivity to electromagnetic disturbance and small dimension of the fiber make 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, Internet of Things, and video streaming. On the other hand, there are factors that may hamper the growth of the market including higher cost compared to coaxial cable. Fiber Optics Market is anticipated to grow at a significant CAGR of 5.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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 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 be include Premises, Telecom, Utility, Military, CATV, Industrial, Metropolitan, and Security, Non-communications may be comprise Fiber Optic Lighting, and Sensors. The “Cable Antenna Television (CATV)” segment led the market in 2016 and anticipated to maintain its dominance by 2025 owing to use of flexible government taxation policies, high definition content, and rapid technological advancements in products & product offerings.
The fiber optics industry could be explored based on optical fiber type 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 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 in order 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
• Asia Pacific
• South America
Research Support Specialist, USA