Fiber Optics Market size worth $ 9.53 Billion, Globally, by 2028 at 9.9% CAGR: Verified Market Research®

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Global Fiber Optics Market Overview

With digital transformation on a rise, demand for Fiber Optics technology is witnessing massive growth. Technological advancement has led to the enhancement in the field of communication networking, which has further boosted the Fiber Optics Market. The rise in a number of internet connectivity in both developed and developing regions has further created a demand for Fiber Optics technology. According to the International Telecommunication Union (ITU), in 2019, over 51% of people were using the internet at a global level. It further states that the global penetration rate increased from nearly 17 per cent in 2005 to over 53 per cent in 2019. Thus, with the rise in the number of internet users, there is an increased demand for data transfer, creating demand for Fiber Optics.

The growing demand for FTTx technology is also an emerging high growth prospect for the Fiber Optics Market. FTTx is any broadband network architecture that uses fiber optics as the optical medium to transmit information in a local loop for last-mile telecommunications. With the development of fibre optic networks, service providers have been able to optimise FTTx — fiber-to-the-X, in which X can refer to various subscriber locations, such as homes (H, as in FTTH) and buildings (B, as in FTTB) — with the most effective, cost-effective connectivity and bandwidth capabilities. With the rise in OTT (Over-the-Top) culture, demand for video technology, which has the highest bandwidth consumption has increased.

Key Developments

Key Players

The major players in the market are Corning Incorporated, Prysmian Group, Sterlite Technologies Limited, AFL Global, Finisar, Sumitomo Electric Industries, Ltd, LS Cable & System, Leoni AG, Furukawa Electric Co. Ltd., General Cable Corporation, Optical Cable Corporation.

Verified Market Research has segmented the Global Fiber Optics Market On the basis of Fiber Type, Cable Type, Application, and Geography.

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