Fiber Optics Has Various Applications in Medicine And Research Fields Including Endoscopy, Microscopy And Biomedical Research.
The global fiber optics market size is expected to reach USD 11.18 Billion in 2030 and register a revenue CAGR of 9.3% over the forecast period, according to the latest report by Reports and Data. Rising adoption of fiber optics in smart city projects is driving fiber optics market revenue growth.
Increasing deployment of fiber optics in telecommunication infrastructure is attributed to advantages offered such as higher bandwidth and faster Internet speed. High bandwidth improves data transmission speed which results in less download and upload time, and enables simultaneous use of multiple online applications. High bandwidth also improves signal rates and long-distance data transmission, which are useful in long distance undersea telecommunications cables. Fiber optics transmit light signals and those signals are capable of restricting interferences of different fibers in same fiber cable. Thus, by eliminating situations such as cross talk between telecommunication lines, fiber optics are widely being used in manufacturing of telecommunication equipment.
Fiber optics enables video-on-demand and video conferencing using several new technologies such as Vertical-Cavity Surface-Emitting Laser (VCSEL) transmitters, Wavelength Division Multiplexing (WDM) and parallel optics.
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Some Key Highlights from the Report
- On January 3, 2022, Cable One Inc., which is a US-based broadband communication provider, made an announcement that it has entered into joint venture with companies including Stephen Capital Partners LLC, which is a private equity affiliated to Stephens Inc., and The Pritzker Organization, LLC, which is an investment company and certain members of the management team. Aim of this joint venture was to support growth of Clearwave Fiber, which is affiliated to Clearwave Media. Clearwave Fiber is recently formed entity under Cable One, Inc. Clearwave Fiber substantially invests to bring Fiber-to-the-Premise (FTTP) service to business and residential users across its operational area.
- Hardware segment accounted for significantly large revenue share in 2020. High reliability and dual operating window of fiber optic coupler make it an ideal option in various applications such as optical communication systems and community antenna networks. High directivity lowers leakage from the reflected power to the coupled port. This results in more accurate measurement of forward power. Additionally, low insertion loss ensures better performance by facilitating proper receiving and interpretation of signals by active equipment at the back end of a link.
- Dual Window Coupler (DWC) offer features including high reliability, great stability, and low polarization dependent loss. Therefore, fiber optics couplers are suitable for various applications including community antenna networks and optical communication systems. High directivity is another feature wherein beams can travel long distances. High directivity also results in low leakage signal, which further increases accuracy of reflection measurement.
- Glass segment accounted for significantly large revenue share in 2020, owing to several benefits offered such as capability of fiber optics to perform in extremely low and high temperatures, and slim size and light weight. Glass optical fiber can be used in several applications such as ovens, furnaces, and cold storage warehouses. Faster transmission speed and efficiency in light transferring features of glass type make it ideal in case of high sensing distances. Moreover, this type of optical fiber enables its users to select sensors according to required specifications, and slim size and light weight feature allow it to be fitted in small spaces.
- Healthcare segment accounted for larger revenue share in 2020, as compared to other segments, owing to rising awareness regarding benefits offered by fiber optics such as upgraded patient access and improved emergency care. Fiber optic networks enable patients to consult with doctors via apps and video calls, and communicate in real time with the help of high-speed Internet networks. High-speed fiber optic connectivity allows doctors to interact with other medical personnel without any network interference. In emergency scenarios, fiber optic connectivity transfers data from the DOT Telemedicine backpack tool to analyze and facilitates fast diagnosis.
- Single-mode segment revenue is expected to grow steadily during the forecast period, owing to increased bandwidth capacity and ability to restrict data dispersion. Single-mode cable requires fewer routers or switches in mid-span; therefore, it enables faster data transfers in case of long distances. It also enables users to circulate data at 40 Gb over hundreds of kilometers and 10 Gb over thousands of kilometers.
- Market in North America accounted for largest revenue share in 2020. Technological advancements and large-scale deployment of several technologies in various sectors such as telecommunications, and government, among others are factors expected to drive demand and adoption of fiber optics. Rapid industrialization and rapid infrastructural development are creating lucrative revenue growth opportunities for players operating in countries in the region.
- Companies profiled in the global market report include Huawei Technologies Co., Ltd., Bentley Systems Inc., ADTRAN Inc., Technicolor, CableLabs., Sumitomo Electric Industries Ltd., PCT International Inc., Fujikura Ltd., Twinstar Technologies Co. Ltd., and Altair Engineering Inc.
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For the purpose of this report, Reports and Data has segmented the global fiber optics market based on component, optical fiber type, application, cable type, and region:
Component Outlook (Revenue, USD Billion; 2018–2030)
Optical Fiber Type Outlook (Revenue, USD Billion; 2018–2030)
Application Outlook (Revenue, USD Billion; 2018–2030)
Cable Type Outlook (Revenue, USD Billion; 2018–2030)
Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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