According to the Market Research Future analysis, the post-COVID- 19 global fiber optics market size is anticipated to register a significant compound annual growth rate (CAGR) of 8.4% during the review period to surpass USD 14,194.0 million by 2026. The growing requirement for high bandwidth connectivity is rising with the advancements in end-use applications across several industry verticals and the shift from traditional server-based operations to cloud-based platforms.
The global fiber optics market is expected to register a significant market growth during the review period owing to the highest market value of USD 8,130.0 million in 2019. The fiber optics market growth is propelled by the increasing demand for high-speed internet services and the rising use of FTTX networks. Moreover, the increasing demand for fiber optic cables in the aerospace and automotive industries is creating new opportunities for the major players to innovate and expand their business to the next level. It is widely used across various end-use industries such as telecom & broadband, industrial, military, utilities, and aerospace.
The global fiber optics market has been classified into mode type, application, end-user, and region.
In terms of the mode type segment, the global market has been bifurcated into single-mode and multi-mode. The single-mode segment is anticipated to command the market throughout the forecast period at a higher CAGR of 8.9% during the review period. Single-mode fiber is an important part of broadband networks and is designed for long distances data transmission.
By end-user segment, the global fiber optics market has been categorized into telecom & broadband, industrial, military, utilities, aerospace, and other uses. The telecom & broadband segment is expected to lead the global market owing to the rising demand for high-speed internet services has increased the use of fiber optics in the telecommunications & broadband market.
Geographically, the global fiber optics market has been classified into North America, Europe, Asia-Pacific, and South America, and the Middle East & Africa. Asia-Pacific led the fiber optics market in 2019 with a market value of USD 2,878.4 million and is anticipated to surpass USD 5,034.2 million in 2026 at a CAGR of 8.5%. The regional market growth is attributed to the rising investments in network infrastructure development and rapid industrialization.
North America contributes to the second largest market of the global fiber optics market. As per the MRFR analysis, the US is a leading market contributor followed by Canada and Mexico. The regional market growth is attributed to the high demand for high-speed internet services among end-user verticals, including the aerospace industry.
Europe is expected to register constant growth in the fiber optics market during the review period owing to the increasing adoption of FTTX networks and growing demand for high-speed Internet services.
The key market players of the global fiber optics market are Corning Incorporated (US), Furukawa Electric Co. Ltd. (Japan), General Cable Corporation (US), Sterlite Technologies Limited (India), Prysmian Group (Italy), Finisar (US), AFL Global (US), Sumitomo Electric Industries, Ltd (Japan), LS Cable & System (South Korea), Leoni AG (Germany), and Optical Cable Corporation (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.