LONDON--(BUSINESS WIRE)--The global fiber optics market size is poised to grow by USD 2.44 billion during 2020-2024, progressing at a CAGR of almost 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The increase in the number of FTTH homes and subscribers is the key factor driving the market growth. A higher number of customers are opting for fiber optic connections to leverage broadband services. This reduces the requirements for customer premises equipment (CPE) and distribution point unit (DPU).
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
- The major fiber optics market growth came from telecom sector. The rise in FTTx applications has been a major driver for the telecom sector growth since it facilitates optical fiber connection for last-mile connections. The emergence of 5G communication technology will also be a major factor supporting the growth of the global fiber optics market in the telecom segment.
- APAC was the largest fiber optics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing number of telecom subscribers and the deployment of fiber optics in communications will significantly drive fiber optics market growth in this region over the forecast period.
- The global fiber optics market is fragmented. CommScope Holding Co. Inc., Corning Inc., Fujikura Ltd., Hitachi Ltd., Leoni AG, LS Cable & System Ltd., Optical Cable Corp., Prysmian Spa, Sterlite Technologies Ltd., and Sumitomo Electric Industries Ltd. Are some of the major market participants. To help clients improve their market position, this fiber optics market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global fiber optics market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/fiber-optics-market-industry-analysis
The Rise in Global Internet Traffic will be a Key Market Trend
The increasing demand for faster Internet has encouraged various companies to transition to FTTH, which enables high-speed internet access with faster voice and video services. The demand for faster internet is also leading to an increase in the number of FTTH homes and subscribers which will drive the fiber optics market growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Fiber Optics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist fiber optics market growth during the next five years
- Estimation of the fiber optics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the fiber optics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fiber optics market vendors
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Telecom - Market size and forecast 2019-2024
- Datacom - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- CommScope Holding Co. Inc.
- Corning Inc.
- Fujikura Ltd.
- Hitachi Ltd.
- Leoni AG
- LS Cable & System Ltd.
- Optical Cable Corp.
- Prysmian Spa
- Sterlite Technologies Ltd.
- Sumitomo Electric Industries Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.