The global Fibre Optics market is expected to reach USD 8.43 billion by 2026, according to a new report by Reports and Data. The increasing demand for fibre optic cables in the military due to their higher bandwidth, cyber security and security against signal interference a major factor affecting market demand. Globally, countries have started realizing the need for better data services and cyber security, thus are shifting towards Fibre Optics to maintain their privacy.
The need for high speed data transfer in social media sites, videos and other consumer apps is driving the market demand. In its “Future Telecoms Infrastructure Review (FTIR)” the UK government declared its objective of ‘industry-led switchover’ from copper to complete fibre. Hence, investment in 5G is more likely to drive the fibre optics market.
North America dominates the market with a market share of 33%. The Asia Pacific is following at a rapid speed and is expected to lead in the forecasted period. This is due to the high infiltration of IT & telecommunication sector in the region. Awareness regarding the benefits provided by the fibre optics are leading the government to adopt this technology, especially in developing countries hence boosting the market in this region. Adoption of Fibre optics will increase the bandwidth, eliminate signal interference and improve security globally.
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Cable Type Outlook (Revenue, USD Million; 2018-2026)
Fibre Optic Cable Type Outlook (Revenue, USD Million; 2018-2026)
Application Outlook (Revenue, USD Million; 2018-2026)
The fibre optics market has experienced significant growth in recent years and is expected to continue expanding in the coming years. The market valuation was USD 3.01 billion in 2018 and is projected to reach USD 8.43 billion by 2026. This growth is primarily driven by the increasing demand for greater and safer bandwidths with higher speeds.
One of the main reasons for the shift from copper wire to fibre optics cables is the need for higher speeds and greater data transmission capabilities. Fibre optics cables can transmit data at much higher speeds compared to traditional copper wires. Additionally, fibre optics offer advantages such as low latency, high bandwidth, and immunity to electromagnetic interference.
In terms of cable types, multi-mode cables are commonly used, but single mode cables are preferred for applications that require higher speeds and longer distances. Single mode cables can transmit data over greater distances with minimal signal loss. However, they are generally more expensive than multi-mode cables due to their specialized construction and performance characteristics.
While the telecom industry is expected to lead the fibre optics market in the coming years, other sectors such as medical, military, and aerospace are also adopting fibre optics technology for their specific needs.
In the medical sector, fibre optics are used in various applications, including medical imaging, surgical equipment, and diagnostics. Fibre optic cables enable high-resolution imaging and flexible endoscopes, which have revolutionized medical procedures.
The military and aerospace industries benefit from fibre optics’ unique properties, such as immunity to vibrations and disturbances from nearby signals. Fibre optics provide secure and reliable communication, making them ideal for applications where data security and integrity are critical.
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Regional Markets Highlighted in the Global Fibre Optics Market Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Top Companies Profiled in the Report:
Finisar (U.S.), Furukawa Electric (Japan), General Cable Corporation (U.S.), Corning Inc. (U.S.), AFL Global (U.S.), Leoni AG (Germany), LS Cable & System (South Korea), Prysmian Group (Italy), and Finolex (India), among others.
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