Global Fiber Optics Market Expected to Reach $6.9 Billion by 2024 - Growing Telecommunications Industry in the Middle East & Africa Pose Lucrative Opportunities
DUBLIN, Jan. 6, 2020 /PRNewswire/ -- The "Fiber Optics Market by Cable Type (Single-mode, Multi-mode), Optical Fiber Type (Glass, Plastics), Application (Telecom, Premises, Utility, CATV, Military, Industrial, Sensors, Fiber Optic Lighting, Security, Metropolitan), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global fibre optics market size is projected to grow from USD 4.3 billion in 2019 to USD 6.9 billion by 2024, at a CAGR of 10%.
This report segments the market for fibre optics based on fibre type, cable type, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, and key strategies associated with the market for fibre optics.
The key players profiled in the report include Corning Incorporated (US), Prysmian Group (Italy), Finisar (US), AFL Global (US), Sumitomo Electric Industries, Ltd (Japan), LS Cable & System (South Korea), Leoni AG (Germany), Furukawa Electric Co. Ltd. (Japan), General Cable Corporation (US), Sterlite Technologies Limited (India), and Optical Cable Corporation (US).
Increasing demand for the internet is expected to drive the fibre optics market.
The fibre optics market is mainly driven by the increasing demand for internet and growing need for Fiber To The x (FTTx). The internet is a global system of connected devices. Fibre optics acts as the backbone of the internet; optical fibre cable is used as the medium for transmitting information from one point to another. According to the International Telecommunication Union (ITU), 51.2% of the global population was using the internet in 2018. The growth rate of the number of the internet users was around 45% in the same year. The growing importance of cloud computing, data transfer and storage, and Internet of Things (IoT) is driving the use of the internet.
Glass is projected to account for the largest share of the overall fibre optics market, in terms of value, between 2019 and 2024.
Glass is the largest fibre type of fibre optics due to its increasing demand from various applications. The high performance and easy availability of glass fibre optics is driving the glass fibre optics market. North America and Europe are mature markets. On the other hand, the markets in APAC and the Middle East & Africa are growing because of the rapid industrial growth in these regions.
Single-mode is the largest cable type in the overall fibre optics market in terms of value.
The consumption of single-mode fibre optic is very high in the fibre optics market. The single-mode type optical cables are designed to transmit a single propagation mode per polarization direction for a given wavelength. Factors including changing demographic trends, increasing number of connected devices, and growth in penetration are expected to contribute to the growth of the single-mode cable type segment of the fibre optics market.
Rapid industrialization in APAC to drive the demand for fibre optics.
The APAC fibre optics market is projected to be the largest during the forecast period. The growing industrialization and infrastructural development in the region have offered enormous opportunities for the use of fibre optics across various applications in APAC. The major fibre optics markets in APAC are China, Japan, India, Australia, and South Korea. China is the major hub for manufacturing activities, globally, and is also one of the largest in terms of a number of internet users.
Also, China is the most populous country in the world, which has resulted in the growth of applications, such as telecom, premises, utility, CATV, and industrial. Moreover, countries including India and South Korea are also witnessing significant growth rates on account of the growing industrial activities in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Growth Opportunities for the Fiber Optics Manufacturers
4.2 Fiber Optics Market, By Region
4.3 Asia-Pacific Fiber Optics Market, By Country, and Application
4.4 Fiber Optics Market, By Key Country
4.5 Fiber Optics Market, By Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for the Internet
5.2.1.2 Growing Need for FTTx
5.2.2 Restraints
5.2.2.1 Wireless Communication Systems
5.2.3 Opportunities
5.2.3.1 Growing Telecommunication Industry in Middle East & Africa
5.2.3.2 Advances in Technology
5.3 Regulatory Framework
6 Industry Trends
6.1 Porter's Five Forces Analysis
6.1.1 Bargaining Power of Buyers
6.1.2 Bargaining Power of Suppliers
6.1.3 Threat of New Entrants
6.1.4 Threat of Substitutes
6.1.5 Intensity of Competitive Rivalry
6.4 Macroeconomic Indicators
6.4.1 GDP Trends and Forecast
6.4.2 Internet Users
7 Fibre Optics Market, By Cable Type
7.1 Introduction
7.2 Market Analysis, By Cable Type
7.2.1 Single Mode
7.2.2 Multi-Mode
8 Fibre Optics Market, By Optical Fiber Type
8.1 Introduction
8.2 Market Analysis, By Optical Fiber Type
8.2.1 Glass
8.2.2 Plastic
9 Fibre Optics Market, By Application
9.1 Introduction
9.2 Market Analysis, By Application
9.2.1 Communications
9.2.1.1 Telecom
9.2.1.2 Premises
9.2.1.3 Utility
9.2.1.4 CATV
9.2.1.5 Industrial
9.2.1.6 Military
9.2.1.7 Others
9.2.2 Non-Communications
9.2.2.1 Sensors
9.2.2.2 Fiber Optic Lighting
10 Fibre Optics Market, Regional Analysis
10.1 Introduction
10.2 Asia-Pacific
10.3 North America
10.4 Europe
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Leadership Mapping, Tier 1 Companies
11.2.1 Visionary Leaders
11.2.2 Innovators
11.3 Strength of Product Portfolio
11.4 Business Strategy Excellence
11.5 Competitive Leadership Mapping (Small and Medium-Sized Enterprises)
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Starting Blocks
11.6 Strength of Product Portfolio
11.7 Business Strategy Excellence
11.8 Market Share Analysis
11.9 Competitive Scenario
12 Company Profiles
12.1 Corning Inc.
12.2 Prysmian Group
12.3 Finisar
12.4 AFL Global
12.5 Sumitomo Electric Industries (SEI)
12.6 LS Cable & System
12.7 Leoni AG
12.8 Furukawa Electric
12.9 Finolex
12.10 Sterlite Technologies Limited
12.11 Optical Cable Corporation
12.12 Fujikura Limited
12.13 Yangtze Optical Fiber & Cable Co. Ltd.
12.14 Other Market Players
For more information about this report visit https://www.researchandmarkets.com/r/jk9rlt
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