Global Optical Fiber Market Expected to Reach $ 8,153 Million by 2025

According to a recent report published by Allied Market Research, titled, Global Optical Fiber Market by Mode, Type, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2018 - 2025, the global optical fiber market was valued at $3,477 million in 2017, and is projected to reach $8,153 million by 2025, growing at a CAGR of 11.6% from 2018 to 2025.

Growth in need for fast and improved networking and network services, widespread implementation of 5G, increase in adoption of fiber to the home (FTTH) connectivity, and emergence of internet of things (IoT) majorly contribute toward the growth of the market. However, high installation cost & growth in wireless communication systems are expected to hamper the growth of the global optical fiber market.

Based on mode, the single mode segment dominated the global optical fiber market in 2017 and is expected to continue this trend during the forecast period owing to continuous increase in traffic and rise in internet speed. This has resulted in the growth in need of increased bandwidth.Furthermore, the multi-mode segment is expected to grow at the highest CAGR during the forecast period, owing to rapid growth in corporate local area networks (LANs) where multimode fiber is cost-effectively deployed.

The global optical fiber market was led by the telecom & IT segment in 2017 and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth owing to increased adoption of optical fiber in advanced biomedical instruments to enable efficient patient monitoring, diagnosis, and treatment.

Key Findings of the Optical Fiber Market Study:

• By mode, multi-mode optical fiber segment is expected to exhibit significant growth in the global optical fiber market during the forecast period.
• In 2017, the plastic optical fiber segment accounted for the highest revenue in the end user category.
• Based on industry vertical, the telecom & IT segment generated the highest revenue in 2017.
• Based on region, North America is anticipated to exhibit substantial growth during the forecast period.

Some of the key market players profiled in the report include Fujikura Ltd., Corning Incorporated, Sterlite Technologies Ltd., Furukawa Electric Co., Ltd., The Prysmian Group, Finisar Corporation, Sumitomo Electric Industries, Ltd., Nexans S.A., Reflex Photonics, Inc., and Tata Communications Ltd.