Chicago, April 16, 2023 (GLOBE NEWSWIRE) — The global fiber optics market size was valued at USD 4.9 billion in 2022 and is projected to reach USD 8.2 billion by 2027, growing at a CAGR 10.9% from 2022 to 2027. The growth of this market is driven by factors such as growing internet penetration and data traffic, rising number of data center facilities worldwide, and mounting demand for high bandwidth.
The study categorizes the fiber optics market based on fiber type, cable type, application at the regional and global level.
By Fiber Type
By Cable Type
- Fiber Optic Lighting
Surging deployment of 5G communication networks
The extensive penetration of 5G across developed and developing economies will bring positive opportunities for fiber optics vendors in the market. 5G infrastructure is widely dependent on the adoption of optical fibers.
These optical fibers can transfer an enormous amount of data at high transmission rates from one location to another. With the ongoing commercialization of 5G services, telecom service providers are emphasizing adding newer 5G base stations to gain a competitive advantage in the market. According to the Ministry of Industry and Information Technology (MIIT), China, the telecom service providers in China has deployed approximately 1.425 million 5G base station in the country as of March 2022. These base stations will support network traffic of over 500 million users nationwide.
Challenges in installing fiber optics networks in difficult terrains and high cost of installation
While fiber optic cables are typically installed within conduits alongside the pipeline, there are significant challenges to installing the conduits along trenchless installations.
Challenges in fiber use can be attributed to technical and administrative difficulties. Many telecommunications companies worldwide have telecommunications infrastructure under the oceans…