Fiber Optics Market - Detailed Analysis of Current Industry Figures with Forecasts Growth By 2026

According to the new market research "Fiber Optics Market, [By Type (SingleMode, MultiMode, Plastic Optical Fiber); By Application (Telecommunications, Oil & Gas, Military & Aerospace, BFSI, Railway, Medical and Others); By Regions]: Market Size & Forecast, 2017 – 2026", The Fiber Optics market is expected to reach USD 7 billion by 2026 from USD 3,748.3 million in 2017, at a CAGR of 7%.

The Global Fiber Optics Market is anticipated to reach USD 7 billion by 2026. The market for Fiber Optics is propelled by factors including, increasing penetration of internet, rising government funds for the development of broadband infrastructure, and intense research investments by the companies for development of innovative and new technology in the fiber optic to enable cost-savings.

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The plastic optic fiber market is expected to notice a high growth during the projected period. The core material (polymer) used for construction of plastic optic fiber is different from the material (glass) used in single mode and multimode. This provides a dynamic application and helps in saving cost. Further, the telecommunication application segment is dominating the market for fiber optics attributed to the escalating demand for internet in developing economies. This segment is expected to witness constant growth owing to growing telecommunication industry particularly in Asia Pacific and Middle East & Africa region.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:-

Incorporated

Prysmian S.p.A.

Optical Cable Corporation

OFS Fitel

LLC

AFL

Furukawa Electric

Sterlite Technologies Limited

Finolex Cables Ltd.

YOFC

General Cable Corporation.

The Asia Pacific Fiber Optics Market is anticipated to witness the highest growth followed by Middle East & Africa. Increased industrialization, increasing adoption of smart devices resulting in high demand for internet, and blooming telecommunication industry are the major factor for propelling market growth in Middle East & Africa. Further, rising fiber optics applications in medical sector is driving market growth in countries including, China, India, and Japan. Also, governments of developed nations such as US, Japan, Germany, UK, and China are significantly investing to improve their country’s security infrastructure. Thus, with the adoption of fiber optics by the government, due to the benefits delivered by it, has further resulted in increased the Fiber Optics Market growth.

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Corning, one of the leading companies in fiber optics market stated that the market demand is surpassing supply. The company announced its plans to spend USD 176 million in the next two years for building a new manufacturing facility for optical fiber as well as to expand its existing facility. Also, Finisa, a transceiver vendor, is also planning to construct a new manufacturing plant in China and expand its existing facility in Texas. Such development reflects the increasing market growth.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.