Next-Generation Optical Fiber Market Size is valued at USD 181.8 million in 2023 and is predicted to reach USD 1,013.2 million by the year 2031 at a 24.3% CAGR during the forecast period for 2024-2031.
Next-generation optical fiber describes sophisticated fiber-optic equipment intended to raise data transfer and connectivity facilities' performance and effectiveness. Relative to conventional optical fibers, these fibers have better features like wider connectivity, lower diminution, and stronger durability against ecological and mechanical pressures. Numerous causes are propelling the next-generation optical fiber sector's development. The growing need for bandwidth and speed connectivity due to data-intensive activities like multiplayer games on the internet, virtualization, and streaming media represents one of the main motivators. Technological developments that allow for faster data transfer speeds are advantageous.
Additionally, the business is growing due to the development of broadband networks in emerging nations and the rising popularity of optic-to-the-house technologies. However, the industry expansion is being hindered by the high initial expenses associated with acquisition and deployment. The structure of optical fibers consists of several parts, including recipients, sensors, and optical cabling. The entire system setup procedure requires a lot of employment, especially the connection construction for submarine and subsurface linkages, which represents some of the more costly and lengthy tasks.
Moreover, it is anticipated that the highly costly installation procedure for establishing optical connectivity will hinder the growth of the fiber optics industry. COVID-19 had a swift and major impact on the next-generation optical fiber business, upending the industry as a result of global production and demand network issues, manpower shortages, and shutdowns of industrial facilities across the country.
Competitive Landscape
Some Major Key Players In The Next-Generation Optical Fiber Market:
- Newport Corporation
- OFS Fitel, LLC
- IRFlex Corporation
- IXBlue
- Thorlabs, Inc.
- NKT Photonics A/S
- IDIL Fibres Optiques
- Guiding Photonics
- Corning Incorporated
- RISE AB
- IPT Fiber
- Lumenisity
- Few-cycle
- Humanetics
- NEC Corporation
- Sintec Optronics Pte Ltd
- Sterlite Technologies Limited
- Sumitomo Electric Industries, Ltd
- Asahi Kasei Corporation
- Zhongshan Meisu Technology Co.,Ltd
- Other Market Players
Market Segmentation:
The next-generation optical fiber market is segmented based on end-user, material type, and product type. Based on end-users, the market is segmented into telecommunication, medical, aerospace and defense, information technology, and others. By material type, the market is segmented into glass and plastic. By product type, the market is segmented into multicore fiber and hollow core fiber.
Based On The Product Type, The Multicore Fiber Next-Generation Optical Fiber Market Segment Is Accounted As A Major Contributor To The Next-Generation Optical Fiber Market.
The multicore fiber next-generation optical fiber market will hold a major global market share in 2023. They are widely utilized in medical equipment for operative lighting and reflection and are economical. Because of electricity, detector, and interaction applications in automobiles, the multi-mode category provides a feasible solution. The multi-mode sector has also emerged as the standard networking option for critical applications because of its high speed and affordable expense.
Telecommunication Segment To Witness Growth At A Rapid Rate.
The telecommunication industry uses the bulk of next-generation optical fiber because of the increasing use of information technology in interactions and data transfer activities. Fiber optics enables rapid connectivity and information transfer capabilities that support immediate and distant communication. As internet-based apps, audio-video offerings, and streaming video products gain more traction, there is increasing interest in fiber optic deployments.
In The Region, The North American Next-Generation Optical Fiber Market Holds A Significant Revenue Share.
The North American next-generation optical fiber market is likely to report the highest market share in the near future. This can be because of the increasing popularity of optical cables in a range of applications, such as medical services and protection. Additionally, investor interest in optics networks has increased significantly due to growing demands for connected gadget devices, handsets, and computers in North America, which drives the popularity of the fiber optic industry. In addition, Europe projected to grow rapidly in the global next-generation optical fiber industry due to a number of factors, including greater advances in technology, extensive use in the managerial, information technology, and connectivity industries, and the development of fiber-integrated facilities. The majority of the economy in the Asia Pacific area is being enhanced by the rapidly adopting production sectors of the information and communication technology & telecoms business.
Recent Developments:
- In Jan 2024, OFS demonstrated its technical proficiency and market dominance by conducting seven very popular educational sessions at annual SPIE BiOS Expo & Photonics West Exhibition in San Francisco, California. OFS research scientists and industry experts showcased substantial progress through six technical presentations and a live technology demonstration, focusing on innovative fiber designs and device architectures for fiber lasers and amplifiers, improved fibers for sensing, and photonic components for various applications.
Next-Generation Optical Fiber Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 181.8 Mn |
|
Revenue Forecast In 2031 |
USD 1,013.2 Mn |
|
Growth Rate CAGR |
CAGR of 24.3% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By By Material Type, By Product Type, By End User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Newport Corporation, OFS Fitel, LLC, IRFlex Corporation, IXBlue, Thorlabs, Inc., NKT Photonics A/S, IDIL Fibres Optiques, Guiding Photonics, Corning Incorporated, RISE AB, IPT Fiber, Lumenisity, Few-cycle, Humanetics, NEC Corporation, Sintec Optronics Pte Ltd, Sterlite Technologies Limited, Sumitomo Electric Industries, Ltd, Asahi Kasei Corporation, Zhongshan Meisu Technology Co.,Ltd |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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