Fibre Optics Market is estimated to be US$ 11.74 billion by 2030 with a CAGR of 10.2% during the forecast period
Fibre Optics Market accounted for US$ 4.65 billion in 2020 and is estimated to be US$ 11.74 billion by 2030 and is anticipated to register a CAGR of 10.2%. Optical fibre, commonly known as fibre optics, is a method and medium for transmitting data and information via optical cable as light pulses travelling through glass or fibre. The core of the fibre optic cable is covered with cladding, which is a glass covering. The buffer tube also shields the cladding, while another layer, known as the jacket layer, serves as a protective layer. Because optical fibre cable is the primary medium for data transfer from one point to another, telecommunication is the most important end-use industry for fibre optics. Fiber optic cables have become more popular as a means of transmitting signals with minimal loss over time, fueling industry expansion.
The Report " Global Fibre Optics Market, By Type (Single Mode Fiber Optics, Multimode Fiber Optics, And Plastic Optical Fiber), By Application (Electronics And Communication, Oil And Gas, Defense And Aerospace, And Medical And Healthcare) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In August 2021, UK launches £4m fund to run fibre optic cables through water pipes. The government has launched a £4m fund to back projects trialling running fibre optic broadband cables through water pipes to help connect hard-to-reach homes without digging up roads.
· In February 2021, Kerala launches fibre optic network to provide free internet to 20 lakh families. With KFON, free internet connectivity will be provided to 20 lakh BPL families. It will also cover villages in all 14 districts. Earlier only 10% of government offices had high-speed Internet, with the launch of KFON, 30,000 government institutions will have high brand width connectivity,' said the Chief Minister. KFON is a joint venture of Kerala State IT Infrastructure Limited and Kerala State Electricity Board (KSEB).
Analyst View:
The rise of the fibre optics sector is being fueled by the global need for internet, as well as the increasing demand for FTTx. Furthermore, the market is likely to benefit from technological developments in fibre optic cable technology and an increase in investments in optical fibre cable (OFC) network infrastructure. During the projected period, however, the global optical fibre market is expected to be hampered by high installation costs and rise in wireless communication technologies.
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Key Market Insights from the report:
The Global Fibre Optics Market accounted for US$ 4.65 billion in 2020 and is estimated to be US$ 11.74 billion by 2030 and is anticipated to register a CAGR of 10.2%. The Global Fibre Optics is segmented based on the type, application and region.
· By Type, the market is segmented into Single Mode Fiber Optics, Multimode Fiber Optics, and Plastic Optical Fiber.
· By Application, the market is segmented into Electronics and Communication, Oil and Gas, Defense and Aerospace, And Medical And Healthcare.
· By Region, the Global Fibre Optics is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account major market share as compared to that of other regions.
Competitive Landscape:
The key players operating in the global Fibre Optics Market includes Corning Inc., Prysmian group, AFL global, Belden Inc., Finisar Corporation, Finolex Cable Limited, Sumitomo Electric Industries Ltd., Furukawa Electric Co. Ltd., Yangtze Optical Fiber, and Cable Joint Stock Limited Company.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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