Fiber Optic Components Market Size, Growth, Share by 2031
The global fiber optic components market size is expected to grow from US$ 18.66 billion in 2023 to US$ 42.39 billion by 2031; it is anticipated to expand at a CAGR of 10.8% from 2023 to 2031. The rising deployment of wireless security systems is likely to remain key fiber optic components market trends.
Fiber Optic Components Market Analysis
This market's growth is being driven by a number of commercial reasons, including increased data center deployment, expanding internet penetration and data traffic, rising need for bandwidth and dependability, and improvements in the fiber optic components ecosystem.
Fiber Optic Components Market Overview
A typical optical fiber consists of three major components: the core, which transports the light; the cladding, which surrounds the core with a lower refractive index and confines the light; and the coating, which protects the delicate fiber within. The core, which carries the light, is the smallest component of the optical fiber. Optical fiber cores are typically constructed of glass, while some are made of plastic. The cladding surrounds the core and provides a reduced refractive index, allowing the optical fiber to function. When using glass cladding, the cladding and core are made from the same silicon dioxide-based material in a permanently fused condition. The coating is the optical fiber's protective covering. The layer absorbs shocks, nicks, scratches, and even dampness, which may harm the cladding. Without the coating, the optical fiber is extremely brittle.
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Fiber Optic Components Market: Strategic Insights
Market Size Value in US$ 16,546.7 Million in 2019 Market Size Value by US$ 39,150.3 Million by 2027 Growth rate CAGR of 11.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Fiber Optic Components Market: Strategic Insights
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Market Size Value in | US$ 16,546.7 Million in 2019 |
Market Size Value by | US$ 39,150.3 Million by 2027 |
Growth rate | CAGR of 11.3% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Fiber Optic Components Market Drivers and Opportunities
Growing demand for high bandwidth communication to Favor Market
The need for high-speed wired internet and broadband network infrastructures is expanding, which is driving up the demand for fiber optic cables. Several factors contribute to this need, including the necessity for fast internet connections for specialized programs such as gaming, media, and video streaming. Fiber optic lines have a larger bandwidth capacity and can carry data at quicker speeds than copper wires. Fiber optic cables have lower signal loss and are less susceptible to electromagnetic interference, resulting in more dependable and robust communications.
Adoption of Fiber Optics in the Healthcare Sector
The healthcare business is continually developing and adopting new technology to improve patient care and communication among healthcare staff. Fiber optic networks are critical to this shift because they offer the most dependable and secure connectivity. This thorough guide will look at the benefits of optical fiber networks in healthcare, the cutting-edge technologies they enable, and the industry's digital revolution. The healthcare business is a major adopter of fiber optic internet and networks. Healthcare businesses rely on fast, secure internet connections to guarantee that patient data is delivered swiftly and safely. Fiber networks are also more scalable than traditional internet connections.
Fiber Optic Components Market Report Segmentation Analysis
Key segments that contributed to the derivation of the fiber optic components market analysis type, data rate, and application.
- Based on type, the market is divided into cables, active optical cables (AOC), amplifiers, splitters, connectors, circulators, transceivers, and others. The cables segment held a larger market share in 2023.
- Based on data rate, the market is divided into 10G, 40G, 100G, and above 100G. The 100G segment held a larger market share in 2023.
- Based on application, the market is divided into communications, distributed sensing, analytical and medical equipment, and lighting. The communications segment held a larger market share in 2023.
Fiber Optic Components Market Share Analysis by Geography
The geographic scope of the fiber optic components market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America dominated the fiber optic components market in 2023. Technological advancements, such as the use of wireless technology, cloud computing platforms, and IoT-based security systems, are propelling the growth of the fiber optic components market. These advancements improve the efficiency, convenience, and effectiveness of wireless communication systems.
Fiber Optic Components Market Report Scope
Fiber Optic Components Market News and Recent Developments
The fiber optic components market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In September 2023, Fujitsu developed an optical transmission technology that can deliver data at a rate of up to 1.2 Tbps per optical wave. This is equivalent to transferring the data from six Blu-ray discs (each with a capacity of 25 GB) in just one second.
(Source: Fujitsu, Press Release, 2023)
Fiber Optic Components Market Report Coverage and Deliverables
The "Fiber Optic Components Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type ; Data Rate ; Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global fiber optic components market is expected to reach US$ 42.39 billion by 2031.
The key players holding the majority of shares in the global fiber optic components are Accelink Technology Co. Ltd., Broadcom, Inc., EMCORE Corporation, Fujitsu Limited, and Furukawa Electric Co. Ltd.
The rising deployment of wireless security systems is likely to remain key fiber optic components market trends.
The increasing deployment of data centers, growing internet penetration and data traffic, rising demand for bandwidth and reliability, and developments in the fiber optic components ecosystem are driving the market for fiber optic components.
The fiber optic components market size is expected to grow from US$ 18.66 billion in 2023 to US$ 42.39 billion by 2031; it is anticipated to expand at a CAGR of 10.8% from 2024 to 031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.