Fiber Optics Market Projected to Attain a Valuation of US$ 26.3 Billion (CAGR of 16.8%) During 2023-2028

BROOKLYN, NEW YORK, UNITED STATES, July 12, 2023/EINPresswire.com/ — Fiber Optics Industry Overview:

The latest report by IMARC Group, titled “Fiber Optics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global fiber optics market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global fiber optics market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16.8% during 2023-2028.

Fiber optics represents advanced technological solutions that facilitate the efficient transmission of voices, images, and other data through thin and transparent fiber strands made of glass or plastic. In terms of cable type, it can be categorized into single-mode and multi-mode. Fiber optics are inherently secure, safe to handle, can withstand water and temperature fluctuations, are less susceptible to breakdowns, and support extremely high bandwidth levels for environmental sensing and monitoring, transmitting radio signals, vehicle navigation, etc. Consequently, they find extensive applications across numerous sectors, including healthcare, telecommunication, information technology (IT), military and defense, oil and gas, banking, railway, etc.

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Global Fiber Optics Market Trends:

The inflating demand for internet services, on account of the rapidly growing digitally literate population is among the key factors driving the fiber optics market. In addition to this, the expanding IT and telecommunication segment, owing to the escalating need for high bandwidth communication and data transmission services, is also positively influencing the global market. Furthermore, the development of 5G network, fiber to the home or FTTH, and fiber to the building or FTTB systems for amplifying the position of broadband network systems to ensure high-speed data services is acting as another significant growth-inducing factor.

Apart from this, the elevating utilization of technology in the healthcare industry, in the field of imaging, such as X-ray, surgical microscopy and endoscopy, and ophthalmic lasers and light therapy, etc., is further stimulating the market growth. Moreover, the shifting consumer preferences toward minimally invasive surgeries (MIS) are expected to propel the fiber optics market over the forecasted period.

Some of the Top Competitive Landscape Operating in the Market are Given Below:
• Corning Inc.
• Prysmian Group
• Finisar
• AFL Global
• Sumitomo Electronics Industries (SEI)
• Ls Cable & System
• Leoni AG
• Furukawa Electric
• General Cable Corporation
• Finolex

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/fiber-optics-market

Key Market Segmentation:

Breakup by Cable Type:

• Single Mode
• Multi-Mode

Breakup by Optical Fiber Type:

• Glass
• Plastics

Breakup by Application:

• Telecom
• Oil and Gas
• Military and Aerospace
• BFSI
• Medical
• Railway
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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