Pune, India, December 23, 2021 (GLOBE NEWSWIRE) – The world fiber optic market the size should reach $ 9.73 billion by 2027, posting a 10.3% CAGR during the forecast period. The combined efforts of enterprises to innovate in fiber networks to reduce the costs of construction and operation and maintenance (O&M) of the optical distribution network (ODN) will have a remarkable impact on the market during the period of forecast, says Fortune Business Insights in a report titled “Fiber Optics Market Size, Industry Share and Analysis, by Component (Hardware, Software, Services), by Application (Telecommunications, Smart Cities, Utilities) electricity, aerospace and defense, industrial automation and control, renewable energy, others) and regional forecast, 2020 -2027 “, the market size was USD 4.48 billion in 2019.
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The list of major players in the optical fiber market are:
- Adtell integration
- Adtran, Inc.
- ADVA optical network
- Broadcom, Inc.
- Ciena Company
- Cisco Systems, Inc.
- Corning, Inc.
- Finisar Company
- Fujitsu Optical Components Ltd.
- Electric furukawa
- Hamamatsu Photonics KK
- Huawei Technologies Co., Ltd.
- HUBER + SUHNER SA
Scope and segmentation of the report
|Cover of the report||Details|
|Forecast period||2021 to 2027|
|Forecast period 2020 to 2027 CAGR||10.3%|
|2027 value projection||$ 9.73 billion|
|Year of reference||2020|
|Market size in 2019||$ 4.48 billion|
|Historical data for||2016 to 2018|
|Number of pages||120|
|Covered segments||Component, application and geography|
|Growth drivers||The emergence of IoT and cloud computing to stimulate the market|
|Growing demand for higher bandwidth to facilitate expansion in North America|
Impact of COVID-19:
The emergence of COVID-19 has crippled the world. We understand that this health crisis has had an unprecedented impact on businesses in all sectors. However, that too will pass. Growing support from governments and several companies can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, almost all sectors are expected to be affected by the pandemic.
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The emergence of IoT and cloud computing to stimulate the market
Optical fiber is considered an ideal solution for reliable and secure connections between IoT devices. The emergence of IoT and cloud computing has led to higher bandwidth and better connectivity in workplaces and commercial office buildings, which in turn will create opportunities for the market. The increasing implementation of optical fiber for monitoring asset location, temperature and oil reserve levels in industries will further enhance the market growth in the coming years. The increasing propensity to improve data traction, security settings, and product automation will drive the market growth during the forecast period. In addition, the integration of cloud computing and fiber connectivity for a constant and streamlined workflow will drive the growth of the market. Likewise, the adoption of cloud computing by many companies for customer relationship management (CRM) tools will simultaneously give a boost to the market. The growing awareness of fiber optics, including higher bandwidth speed capabilities, superior performance and enhanced security, will bode well for the market in the years to come.
Growing demand for higher bandwidth to facilitate expansion in North America
The Asia-Pacific market was worth USD 1.66 billion in 2019 and is expected to dominate the market during the forecast period. The growth in the region is attributed to the increasing adoption of fiber optics in the telecommunications industry. China had the greatest demand for fiber optic cables. The emergence of 5G is expected to be a major factor in increasing the market growth in the region. The increasing adoption of fiber optic systems in power grid, pipelines, highways, railways, airports and data centers will increase the market potential in the years to come. North America is expected to experience a substantial growth rate during the forecast period due to the growing need for higher bandwidth in communication and data services. According to the study conducted by the Fiber Broadband Association and RVA in 2018, fiber has been deployed in approximately 41 million homes in the United States and connects 18.6 million homes. Europe is expected to increase significantly during the forecast period due to the growing demand for optical fibers in the region.
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november 2019: Azerbaijan and Kazakhstan have announced their intention to strengthen their telecommunications systems by building a fiber-optic cable line, which will link the two countries across the Caspian Sea.
Main Table of Contents
- Definition, by segment
- Research approach
- Market dynamics
- Drivers, constraints and opportunities
- Emerging trends
- Key ideas
- Macro and micro economic indicators
- Consolidated SWOT analysis of the main players
- Porter’s Five Forces Analysis
- CoVID-19 impact assessment
- Global Fiber Optic Market Analysis, Outlook and Forecast, 2016-2027
- Main conclusions / summary
- Market size estimates and forecasts
- By component (value)
- Fiber optic cables
- Fiber optic connectors
- Fiber optic adapters
- Modules / Enclosures
- Testing services
- By application (value)
- Smart cities
- Electric utilities
- Aeronautics and Defense
- Industrial automation and control
- Renewable energy
- By region (value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By component (value)
COT continues .. !!!
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