Global Next-Generation Optical Fiber (Multicore and Hollow Core Fiber) Markets, 2022-2023 & 2031: Growing Investments in Defense and Security Industry Bodes Well for the Sector
DUBLIN, June 15, 2023 /PRNewswire/ -- The "Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber) - A Global and Regional Analysis: Focus on End User, Product Type, Material Type, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global next-generation optical fiber market (multicore and hollow core fiber) is projected to reach $1,053.4 million by 2031 from $137.4 million in 2022, growing at a CAGR of 25.4% during the forecast period 2022-2031.
The demand for the next-generation optical fiber is anticipated to grow with the increasing demand from end-user industries such as telecommunications, information technology, medical devices, and aerospace and defense, among others.
Furthermore, it is anticipated that during the projected period (2022-2031), the increasing adoption of next-generation optical fibers in the telecommunications industry and the growing information technology products in several emerging economies, including China, India, and others, are expected to further fuel the advancement of global next-generation optical fiber market (multicore and hollow core fiber).
However, the design complexities and power attenuation in the next generation of optical fibers are leading to an increase in the cost of components and installation. Furthermore, the shortage of skilled workforce in the optics industry is acting as a challenge to the growth of the next-generation optical fiber market (multicore and hollow core fiber).
In the next-generation optical fiber market (multicore and hollow core fiber), North America is anticipated to gain traction in terms of next-generation optical fiber production, owing to the continuous growth in the adoption of advanced telecommunications technologies such as 5G and the presence of key manufacturers in the regions.
Market Lifecycle Stage
The global next-generation optical fiber market (multicore and hollow core fiber) is in the growth phase. Increased investment and research and development activities are expected to boost the market.
Furthermore, due to high demand from end-user industries and the rising need for high-speed and large-capacity data transmission, the growing adoption of smart electronic devices globally is expected to increase the demand for multicore and hollow core optical fibers, thereby bolstering the global next-generation optical fiber market.
Moreover, the global next-generation optical fiber market is expected to benefit from the growing implementation of advanced and efficient telecommunication technologies such as 5G, which promotes market expansion.
Industrial Impacts
Next-generation optical fiber market (multicore and hollow core fiber) offers high-speed and large-capacity data transmission with reduced attenuation, dispersion, and distortion, among others.
As a result, these advanced optical fibers are getting prominence in a variety of industries, including telecommunication, medical, aerospace and defense, and information technology, among others. One area where implementation has been significantly greater is the telecommunications industry, which has created opportunities for both existing market participants and market entrants.
Furthermore, next-generation optical fibers have a moderate to high impact on end-user industries; however, in the upcoming future, with increasing penetration of telecommunication, medical, aerospace and defense, information technology, and other industries, the impact is anticipated to increase.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The global next-generation optical fiber market (multicore and hollow core fiber) has been segmented by material type, among which glass accounted for around 84.5% and plastic holds around 15.5% of the total demand in 2021 in terms of value.
Some of the prominent established names in this market are:
Hollow Core Optical Fiber
- Newport Corporation
- OFS Fitel, LLC
- IRFlex Corporation
- IXBlue
- Thorlabs, Inc.
- NKT Photonics A/S
- IDIL Fibres Optiques
- Sintec Optronics Pte Ltd
- Guiding Photonics
- RISE AB
- Asahi Kasei Corporation
- Lumenisity
- Few-cycle
Multicore Optical Fiber
- NEC Corporation
- OFS Fitel, LLC
- IXBlue
- Sterlite Technologies Limited
- Sumitomo Electric Industries, Ltd.
- Corning Incorporated
- IPT Fiber
- Humanetics
- Zhongshan Meisu Technology Co.,Ltd.
Industry Outlook
Trends: Current and Future
- Increasing Demand for 5G Mobile Networks
- Growing Demand in Laser and Sensing Applications
Business Opportunities
- Growing Investments in Defense and Security Industry
- Increasing Global Interest in the Space Industry
- Rising Need for Higher-Speed and Larger-Capacity Transmission Systems (Telecom Transmission)
Business Drivers
- Growing Demand for Cloud Computing and Data Centers
- Growing Demand in Biomedical Applications
- Growing Demand for Microelectronics
Business Challenges
- High Installation Cost
- Lack of Skilled Workforce
Business Strategies
- Product Developments
Market Developments
- Corporate Strategies
- Mergers, Acquisitions, Partnerships, and Joint Ventures
Ecosystem of Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber)
- Consortiums and Associations
- Regulatory/Certification Bodies
- Government Programs
- Programs by Research Institutions and Universities
Start-Up Landscape
- Key Start-Ups in the Ecosystem
Impact of COVID-19 on the Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber)
Technological Advancements in Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber)
Comparison between Multicore and Hollow Core Fiber vs Conventional Single Core Optical Fiber
For more information about this report visit https://www.researchandmarkets.com/r/4j9l8u
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
Share this article