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Bangalore, India, June 25, 2021/PRNewswire/ - The fiber optic market is segmented by type (multimode fiber, single mode fiber) and application (IT and telecommunications, medical, robotics). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on the evaluation report of the electronic and electrical category.
By 2026, the global optical fiber market is expected to reach USD 14.3 billion from USD 10.43 billion in 2019, with a compound annual growth rate of 7.8% from 2021 to 2026.
The main factors driving the growth of the optical fiber market are:
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Trends affecting the development of the optical fiber industry
Consumer demand for more global data and better coverage is on the rise, which is expected to drive the growth of the optical fiber market. It is expected that the 5th generation wireless connection will be the next technological leap because it will be able to send more data while maintaining a more stable and reliable connection. Heavy-duty fiber optic networks affect the wireless and wired ends of the infrastructure, and have a major impact on the characteristics of 5G, such as high data speed and throughput.
The increase in the adoption of fiber to the home (FTTH) connections is expected to increase the growth of the optical fiber market. FTTH (Fiber to the Home) is a popular integrated communication technology that uses optical fiber to provide faster and more efficient communication. In this technology, fiber optic cables connect the home to the operator. It is the most advanced technology that can be used to build next-generation communication networks.
The increasing use of optical fiber in the medical industry is expected to drive the growth of the optical fiber market. The physical properties of fiber make it a natural choice for a wide range of applications. Optical fiber is an extremely compact and flexible catheter used for light or data transmission in equipment, surgery, and instrument applications. They are commonly used for lighting, flexible image beams, light conductors, flexible light guides, laser transmission systems and device interconnection.
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Growth of fiber optic market share analysis
From the perspective of application, IT and telecommunications are the most widely used fields, accounting for about 83% of the global total in 2019.
Due to the increasing use of mobile devices and related bandwidth connections, the industry is rapidly expanding. The telecommunications business is driven by the positive market trends of broadband services and big data management.
Classified by type, single-mode fiber is the most widely used type, accounting for about 98% of the total in 2019.
From a regional perspective, the Asia-Pacific region has been the world's largest optical fiber region in the past few years, and it will continue to grow in the next few years.
The Asia-Pacific market accounted for approximately 52% of the global market in 2019, while the Americas and Europe accounted for approximately 26% and 16% respectively.
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-The Indian optical fiber and accessories market was valued at US$461.6 million in 2018 and is expected to reach US$1.66 million by 2026, with a compound annual growth rate of 17.2% from 2019 to 2026. The eastern region has the highest compound annual growth rate of 23.3% during 2019-2026.
-The fiber optic cable market is expected to reach US$7.7168 billion from US$4.9945 billion in 2020 by 2027, with a compound annual growth rate of 6.3% from 2021 to 2027.
-The optical fiber connector market is expected to reach US$3,275.6 million by 2027 from US$2,955.3 million in 2020, with a compound annual growth rate of 1.7% from 2021 to 2027. Asia has a 68% production market share and is the largest optical fiber connection market. China and Taiwan had a market share of 44% in Asia during the same period, making them the largest consumers, followed by Japan and South Korea. Both India and Southeast Asia have high production and consumption growth rates. Leading manufacturers include CommScope, Amphenol, Molex and Sumitomo Electric, FIT and China Optical Fiber, etc. (FIT is the world's largest foundry).
-The fiber optic test equipment market is segmented by type single-mode, multi-mode, applied cable television, military and aerospace, manufacturing, and various regions.
-Distributed optical fiber sensor market: North America was the largest distributed optical fiber sensor market in 2017, accounting for 31.1% of the global distributed optical fiber sensor market in 2017.
-The fiber optic gyroscope market is expected to reach USD 804.9 million from USD 780.2 million in 2020 by 2026, with a compound annual growth rate of 2.9% from 2021 to 2026.
-The single-mode fiber (SMF) market is based on types of quartz fiber optic cables, multi-component glass fiber optic cables, plastic fiber optic cables, applied telecommunications and networks, data centers, community antenna TV, factory automation and industrial networks, military and various regions.
-The multimode fiber optic patch cord market is segmented by FC fiber patch cords, ST fiber patch cords, SC fiber patch cords, LC fiber patch cords, applied optical data networks, telecommunications, military and aerospace, and various regions.
-The military fiber optic cable market is segmented by type single-mode, multi-mode, applied military, aerospace and various regions.
-The sales market of optical fiber patch cords is segmented according to the application of optical fiber communication system, optical fiber data transmission, local area network (LAN), optical fiber sensor and various regions.
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