DELRAY BEACH, Fla., Sept. 2, 2024 /PRNewswire/ -- The fiber optics market is expected to grow from USD 3.2 billion in 2024 to USD 6.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 16.4% from 2024 to 2029 according to a new report by MarketsandMarkets. This market's growth is driven by growing internet penetration and data traffic, rising deployment of data center facilities worldwide, and increasing demand for high bandwidth. The increasing promotion of advanced technologies such as big data, machine learning, and Al analytics among internet users worldwide is expected to play a major role in driving the growth of the fiber optics market. The increasing multimedia consumption leads to massive data creation and replication worldwide. The rising amount of data generated is expected to increase the deployment of new fiber optic cables and subsystems. According to the Digital Economy Report 2021 by the United Nations Conference on Trade and Development (UNCTAD), about 64.2 zettabytes of data were created or replicated. Also, the global data creation and replication is expected to experience a 23% growth from 2020-2025. The rise in data creation is expected to increase the deployment and expansion of servers, storage racks, and data center facilities worldwide, fueling the fiber optics market growth from 2024 to 2029.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=238443438
Browse in-depth TOC on "Fiber Optics Market"
191 - Tables
60 - Figures
233 - Pages
Desiccant Dehumidifier Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 3.2 billion |
Estimated Value by 2029 | $ 6.8 billion |
Growth Rate | Poised to grow at a CAGR of 16.4% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Fiber Type, Cable Type, Deployment, Application and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Installing fiber optics networks in difficult terrains and high cost of installation |
Key Market Opportunities | Rising demand for fiber optics as replacement of copper cables |
Key Market Drivers | Rising number of data center facilities worldwide |
Glass segment is expected to grow at a high CAGR during the forecast period.
The glass segment is projected to have high growth rates over the forecast period. Glass optical fibers work efficiently in extreme temperatures, ranging from -40°F up to 900°F.Glass cores efficiently transfer light and allow higher speed transfers and are very useful in, long sensing distances. These optical fibers can achieve a narrow core diameter, i.e., for single mode (8-10) µm and 50-100 µm for multi-mode fiber. However, glass optical fibers are fragile and more likely to break if improperly handled. Installing these optical fibers requires highly trained technicians, and the tools for fiber termination are usually expensive.
Single-mode segment in fiber optics market is projected to be largest market size during the forecast period.
Single-mode optical fibers are extensively used for long-distance communications applications. To address this demand, key players in the fiber optics industry are entering into strategic partnerships and collaborating with other players to increase the production of single-mode fibers. YOFC (China), Corning Incorporated (US), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Furukawa Electric Co. Ltd. (Japan) and Hengtong Group Co., Ltd. (China) are some of the leading manufacturers of single-mode fiber optic cables.
Industrial application segment is projected to grow at fastest CAGR during the forecast period.
The market for the industrial application segment is projected to grow at the fastest CAGR from 2024 to 2029. An enormous amount of data is collected, transported, and analyzed between several nodes, such as machines, sensors, facilities, computers, data centers, and personnel at the manufacturing facilities, which requires high-bandwidth interconnections. Fiber optics is becoming the communication standard for networking all these devices. Favorable government investments to increase the development of intelligent factory infrastructure are expected to present growth opportunities to fiber optic vendors.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=238443438
Asia Pacific likely to emerge as the largest fiber optics market over the forecast period.
Asia Pacific is projected to have the largest industry share of the fiber optics industry from 2024 to 2029. The rise in the number of smart cities will further increase the demand for smart transportation, smart utilities, smart buildings, and communication infrastructure-that invariably require fiber optic solutions. Also, rapid commercialization of 5G services across China, South Korea, and Japan is expected to create significant opportunities for the fiber optics market in the region.
Key players in the fiber optics companies include Corning Incorporated (US), Sumitomo Electric Industries, Ltd. (Japan), YOFC (China), LS Cable & System Ltd. (South Korea), Prysmian Group (Italy), Fujikura Ltd. (Japan, Furukawa Electric Co. Ltd. (Japan), Optical Cable Corporation (US), LS Cable & System Ltd. (South Korea), Proterial Cable America Inc., (US), ), LEONI (Germany), Coherent Corporation (US), Hengtong Group Co., Ltd. (China), Finolex Cables Ltd. (India), CommScope Holding Company, Inc. (US), Sterlite Technologies Limited (India), ZTT (China), FiberHome Telecommunication Technologies Co., Ltd. (China), Aksh Optifibre (India), Art Photonics GmbH (Germany), RPG Cables (India), Nestor Cables (Finland), Orbis Oy (Finland), Birla Cable Ltd. (India), Belden Inc. (US), and Fiber Mountain(US) are among a few emerging companies in the fiber optics market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=238443438
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Submarine Cable Systems Market Size, Share & Industry Growth Analysis Report by Application (Communication Cable and Power Cable), Component (Dry Plant Products and Wet Plant Products) Offering, Voltage, Type (Single Core and Multicore), Insulation, End User and Region - Global Forecast to 2029
Fiber Optic Components Market by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate, Application (Communications, Distributed Sensing, Lighting) and Region (2022-2027)
Fiber Optics Testing Market Size, Share, Statistics and Industry Growth Analysis with COVID-19 impact Analysis by Service Type (Testing, Inspection, Certification), Offering Type (In-House, Outsourced), Fiber Mode (Single Mode, Multimode), Application, Region - Global Forecast to 2025
VSaaS Market Size, Share & Industry Growth Analysis by Type (Hosted, Managed, Hybrid), Feature (AI-enabled VSaaS, Non-AI VSaaS), AI Visual Analysis (Object Detection & Recognition, Intrusion Detection, Facial Recognition, Anomaly Detection), Vertical & Region - Global Forecast to 2029
Fiber Optics Gyroscope Market by Sensing Axis (1, 2, and 3), Device (Gyrocompass, Inertial Measurement Unit, Inertial Navigation System, and Attitude Heading Reference System), Application, and Geography - Global Forecast to 2022
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fiber-optics-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/fiber-optics.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/fiber-optics-market-worth-6-8-billion-by-2029---exclusive-report-by-marketsandmarkets-302235769.html
