Fiber Optics Market to increase by USD 3.6 billion from 2022 to 2027 | Rising smart city initiatives drive the market - Technavio

NEW YORK, Oct. 16, 2023 /PRNewswire/ -- The fiber optics market size is expected to grow by USD 3.6 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.03% during the forecast period. The market is segmented by application (Telecom, Datacom, and Others), material (Glass and Plastic), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Rising smart city initiatives are notably driving market growth  Fiber optics forms an essential part of smart city initiatives, playing a pivotal role in enabling various applications that aim to transform cities into more connected and intelligent environments. One of its vital functions is supporting the deployment of smart transportation systems, encompassing intelligent traffic management and the integration of connected autonomous vehicles.  The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the fiber optics market: Belden Inc., CommScope Holding Co. Inc., Corning Inc., FiberHome Telecommunication Technologies Co. Ltd., Finolex Cables Ltd., Fujikura Co. Ltd., Furukawa Electric Co. Ltd., Hengtong Group Co. Ltd., HFCL Ltd., Hitachi Ltd., II VI Inc., Jiangsu Zhongtian Technology Co Ltd, Leoni AG, LS Corp., Nexans SA, Optical Cable Corp., Prysmian Spa, Sterlite Technologies Ltd., Sumitomo Electric Industries Ltd., and Yangtze Optical Fibre and Cable Joint Stock Ltd. Co.
• Fiber Optics Market is fragmented in nature.
• Market to observe 6.55% YOY growth in 2023.

Market Dynamics:

Trend & Challenges  

Surging demand for 5G infrastructure is an emerging trend shaping the market growth. The rising need for faster, more dependable, and extensive communication networks to accommodate the escalating data demands in our ever-more interconnected world is the driving force behind the growing demand for 5G infrastructure and fiber optics. Additionally, the deployment of 5G networks facilitates the concurrent connection of an extensive array of devices. A key advantage of incorporating fiber optic cables is their capacity to effectively handle the substantial data volumes generated by these devices, ensuring uninterrupted communication and seamless data exchange. 

Stringent regulatory norms are a significant challenge hindering market growth. Stringent regulatory procedures are linked to obtaining the requisite approvals and licenses for the installation of fiber optic cables. Consequently, these processes can result in delays and heightened implementation expenses for network providers. Furthermore, deploying fiber optic cables involves intricate activities such as trench excavation and infrastructure installation in both public and private domains.

Keg Segments:

• The telecom segment is estimated to witness significant growth during the forecast period. The substantial growth in this segment can be attributed to several key factors, including the surge in Internet traffic, leading to heightened bandwidth demands. Additionally, the expansion of fiber to the X (FTTx) networks, the rapid development and commercialization of 5G technology, and the proliferation of data-intensive applications like video streaming, music streaming, and large downloads are contributing to this growth.

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Related Reports:

The Fiber Optic Cable Market size is estimated to grow at a CAGR of 11.61% between 2022 and 2027. The market size is forecast to increase by USD 8,335.11 million. 

The passive optical network (PON) market size is projected to increase by USD 25.89 billion by 2026, accelerating at a CAGR of 19.42%. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application 

Market Segmentation by Material

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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