The report suggests that the market is expected to grow at a CAGR of 25.4% between 2022-2031
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Next-Generation Optical Fiber Market - A Global and Regional Analysis.
According to this study, the global next-generation optical fiber market was valued at $0.13 billion in 2022 and is projected to reach $1.05 billion by 2031, growing at a staggering CAGR of 25.4%.
The following factors are responsible for the increase in demand for next-generation optical fiber:
- Growing demand for cloud computing and data centers
- Growing demand in biomedical applications
- Growing demand for microelectronics
The detailed study is a compilation of 140 market data tables and 22 figures spread through 232 pages.
Check out the detailed table of content here:
Analyst's Take on the Market Projection
According to Sachin Singh, Lead Analyst, BIS Research, "Next-generation optical fibers play a significant role in telecommunications, medical, aerospace and defense, and information technology, as well as other applications. Next-generation optical fibers have been adopted by these end users, as it offers the high-speed and large-capacity data transmission which is required in these industries with increasing data usage by individuals globally. Also, the adoption of advanced technologies such as 5G in the telecommunications industry, increasing demand for advanced and highly efficient sensors and lasers in the medical industry, and growing adoption of smart electronic devices are anticipated to drive market growth over the forecast period."
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Major Existing Industry Leaders in the Global Next-Generation Optical Fiber Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- Newport Corporation
- OFS Fitel, LLC
- IRFlex Corporation
- Thorlabs, Inc.
- NKT Photonics A/S
- IDIL Fibres Optiques
- Sintec Optronics Pte Ltd
- Guiding Photonics
- RISE AB
- Asahi Kasei Corporation
- Sterlite Technologies Limited
- Sumitomo Electric Industries, Ltd.
- Corning Incorporated
- IPT Fiber
- Zhongshan Meisu Technology Co.,Ltd.
Recent Industry Developments in the Global Next-Generation Optical Fiber Market
- In October 2022, Sterlite Technologies Limited claimed to introduce India's first multicore optical fiber. This ground-breaking invention is expected to alter India's optoelectronic interconnection environment.
- In September 2022, Lumenisity, a wholly owned subsidiary of Microsoft Corporation, announced the development of its CoreSmart solution for euNetworks Fiber UK Limited, a developer and supplier of telecommunication services, aiming to deploy hollow core fiber cable for 14 kilometers (km).
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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