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Global Optical Fibre Market to Grow at a CAGR of 15% During 2021-2026, Driven by the Advent of 5G Network and the Internet of Things (IoT)

According to a new report by EMR titled, ‘Global Optical Fibre Market Report and Forecast 2021-2026’, the market attained a value of about USD 7.4 billion in 2020. The industry is further expected to grow at a CAGR of 15% in the forecast period of 2021-2026 to reach a value of approximately USD 17.7 billion by 2026.

The rising demand for greater network bandwidth in homes, offices, stations, and airports, among others, is significantly aiding the industry growth of optical fibres. The advancements in augmented reality (AR) and virtual reality (VR), which rely on fast and secure internet connectivity, are also expected to bolster the market growth. Moreover, automation in various industries, cloud computing, and driverless automobiles are increasing the demand for 5G networks, further invigorating the growth of the optical fibre industry. Additionally, optical fibres are increasingly used in various industries, including aerospace and healthcare. They are used in the healthcare industry for image transfer, illumination, and laser signal delivery. In the aerospace sector, fibre optics are used for increasing connectivity on commercial flights. Further, technological advancements and innovations are expected to increase the use of optical fibres in various industries, therefore propelling the market growth.

Prysmian Group (BIT: PRY), one of the leading players, launched the Sirocco High Density range of microduct cables in February 2020. The cable utilises Prysmian BendBright-A2 200 µm single-mode bend insensitive fibre to provide a solution for evolved systems and flexible and reliable connectivity. Moreover, it makes the installation faster, cost-effective, and sustainable by reducing the carbon footprint. The cables are perfectly fit for blowing in high-density accesses, FTTx and 5G networks. Additionally, they use PicoTube technology, which makes them up to 20% smaller than previous cables. Thus, they can be installed in congested duct space and enable the use of smaller ducts for new installations, resulting in the use of fewer raw materials. The development of such sustainable and efficient optical fibre is expected to aid the market growth in the forecast period.

Market Analysis by Fibre Type, Cable Type, Application, and Region:

  • The market, on the basis of fibre type, can be divided into glass and plastics.
  • Based on cable type, the industry can be divided into single mode and multi mode.
  • The applications of optical fibre include telecom, oil and gas, military and aerospace, medical, and BFSI, among others.
  • The regional markets for optical fibre include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for faster and more secure internet connectivity in both commercial and domestic spaces is aiding the market growth.
  • The market is being driven by the introduction of various favourable government initiatives to enable internet access to all regions of the country.
  • The advent of 5G technology and the Internet of things (IoT), along with Industry 4.0, is increasing the demand for efficient networks, hence boosting the growth of the optical fibre industry.
  • The increasing use of optical fibre in industrial applications to simplify data traction and reduce the cost of logistics is augmenting the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global optical fibre market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the fibre type, cable type, application, and regions of optical fibre.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for optical fibre are Corning Incorporated, Prysmian Group, Sumitomo Electric Industries, Ltd., General Cable Technologies Corporation, and Fujikura Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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