Optical Fiber Market Size, Trends, Opportunities, Innovations & Forecast till 2025
According to a recent
report published by KD Market Insights, titled, Global Optical Fiber
Market by Mode, Type, and Industry Vertical: Opportunity Analysis and
Industry Forecast, 2018 - 2025, the global optical fiber market was valued at
$3,477 million in 2017, and is projected to reach $8,153 million by 2025,
growing at a CAGR of 11.6% from 2018 to 2025.
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Growth in need for fast
and improved networking and network services, widespread implementation of 5G,
increase in adoption of fiber to the home (FTTH) connectivity, and emergence of
internet of things (IoT) majorly contribute toward the growth of the market.
However, high installation cost & growth in wireless communication systems
are expected to hamper the growth of the global optical fiber market.
Based on mode, the single
mode segment dominated the global optical fiber market in 2017 and is expected
to continue this trend during the forecast period owing to continuous increase
in traffic and rise in internet speed. This has resulted in the growth in need
of increased bandwidth.Furthermore, the multi-mode segment is expected to grow
at the highest CAGR during the forecast period, owing to rapid growth in
corporate local area networks (LANs) where multimode fiber is cost-effectively
deployed.
The global optical fiber
market was led by the telecom & IT segment in 2017 and is projected to
maintain its dominance during the forecast period. However, the healthcare
segment is expected to witness the highest growth owing to increased adoption
of optical fiber in advanced biomedical instruments to enable efficient patient
monitoring, diagnosis, and treatment.
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Key Findings of the
Optical Fiber Market Study:
- By mode, multi-mode
optical fiber segment is expected to exhibit significant growth in the global
optical fiber market during the forecast period.
- In 2017, the plastic optical fiber segment accounted for the highest revenue in the end user category.
- Based on industry vertical, the telecom & IT segment generated the highest revenue in 2017.
- Based on region, North America is anticipated to exhibit substantial growth during the forecast period.
- In 2017, the plastic optical fiber segment accounted for the highest revenue in the end user category.
- Based on industry vertical, the telecom & IT segment generated the highest revenue in 2017.
- Based on region, North America is anticipated to exhibit substantial growth during the forecast period.
Some of the key market
players profiled in the report include Fujikura Ltd., Corning Incorporated,
Sterlite Technologies Ltd., Furukawa Electric Co., Ltd., The Prysmian Group,
Finisar Corporation, Sumitomo Electric Industries, Ltd., Nexans S.A., Reflex
Photonics, Inc., and Tata Communications Ltd.
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