Global Lit Fiber Market Worth USD 20.37 Billion With a CAGR of 16.56 %

Introduction

A fibre optic is a flexible and transparent fibre that may operate as a waveguide, often known as a "light pipe," to transfer light between the two ends of the fibre. This type of fibre is constructed of extruded glass (silica) or plastic. By use of a mechanism known as total internal reflection, this device is a cylinder-shaped dielectric waveguide that allows light to travel down its axis. The light is guided through fibre optics by total internal reflection, which occurs because the core of the fibre optic is transparent and is encased in a cladding material that is also transparent but has a lower index of refraction. Because of this phenomena, the fibre behaves in the same way as a waveguide.

The most important driver that is driving the industry is the ever-increasing demand for internet services. The steadily increasing number of people who are able to use digital technologies has resulted in an increase in the need for high bandwidth communication and data transfer services. This, in turn, has contributed to the expansion of the telecommunications and information technology industries. As a direct result of this, there has been a growth in demand for fibre optics, which is essential for the efficient transmission of data, voice messages, and pictures over extremely long distances. In addition, technologies such as the 5G network, fibre to the home (FTTH), and fibre to the building (FTTB) have intensified the placement of broadband network systems.

Market Dynamics 

Rise in internet usage

The net is a worldwide network of interconnected devices. Fiber optics serve as the internet's backbone, with optical fibre cables serving as the medium for transporting data from one location to another. In 2018, the number of internet users increased by roughly 45 percent. The internet is being driven by the expanding significance of cloud computing, data transport and storage, and IoT. 

Because of the rising demand for mobile data and the debut of 5G services, telecom service providers are already buying up the existing lit fibre and also focused on developing their own. This is in response to the fact that 5G services will soon be accessible. The ever-increasing bandwidth requirement of portable device user audience and the mandated conversion to HD video quality for cable providers are two other reasons that are likely to fuel the expansion of the dark fibre network market throughout the projected period.

The demand for FTTx is growing

In the context of broadband network architecture, the term "fiber-to-the-premises" refers to any design that implements the use of fibre optics as the optical medium for data transmission in a local loop intended for use in last-mile communications. The terms FTTH, FTTP, FTTB, FTTN, and FTTC are all included under the FTTx umbrella. Because of its capacity to provide more bandwidth at increased speeds, fibre has developed into a vital component for the development of modern networks. The number of apps that facilitate communication is continually expanding, and each of these applications has characteristics that call for a greater bandwidth and better speed.

Regional Overview of Lit Fiber Market

During the projection period, the APAC fibre optics market is expected to be the biggest. The region's industrialization and infrastructure development have opened up a plethora of prospects for the usage of fibre optics in a variety of applications.

Furthermore, China is the world's most populated country, resulting in an increase in applications such as communication, residential, utilities, CATV, and industrial. Because of the expanding industrial operations in the area, nations such as India and South Korea are seeing considerable growth rates.

Key Highlights

• The global market for Lit Fiber was valued at USD 3.61 billion in 2020 and is expected to reach USD 20.37 billion in 2028 expanding at a compound annual growth rate (CAGR) of 16.56 from 2022 to 2030.
• Rise in internet usage is driving the market.
• Rising demand for mobile data and the debut of 5G services will boost the market.
• Increasing demand for FTTx will drive market growth.
• The market for Lit Fibre is segmented into the following: Product, Connectivity, Application and Region.
• Based on Product the market is divided into: Single Mode and Multi-Mode. In terms of revenue, the multi-mode category led the market in 2021, accounting for almost 62 percent of the entire market share. Over the projection period, it is also predicted to continue to lead the market.
• Based on region the market is segmented into: North America, Europe, Asia Pacific, Latin America and Middle East.
• During the projection period, the APAC fibre optics market is expected to be the biggest The region's rapid industrialization and infrastructure development have opened up a plethora of prospects for the usage of fibre optics in a variety of applications

Competitive Players

Competitors in Lit Fiber Market

Corning Incorporated (US), Prysmian Group (Italy), Finisar (US), AFL Global (US), Sumitomo Electric Industries, Ltd (Japan), LS Cable & System (South Korea), Leoni AG (Germany), Furukawa Electric Co. Ltd. (Japan), General Cable Corporation (US), Sterlite Technologies Limited (India), and Optical Cable Corporation are among the key players profiled in the report (US).

Recent Developments

Segmentation

Segmentation of Lit Fiber Market

By product

• Single Mode
• Multi-Mode

By Connectivity

• On-net
• Off-net

 By Application

• Networking
• Industrial
• Aerospace & Defense

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East