Global Fiber Optics Market to Reach $7.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Fiber Optics estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$7.2 Billion by 2027, growing at aCAGR of 8.3% over the period 2020-2027. Single mode, one of the segments analyzed in the report, is projected to record 8.8% CAGR and reach US$5.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Multi-mode segment is readjusted to a revised 7.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 11.2% CAGR
The Fiber Optics market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 11.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.6% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.We bring years of research experience to this 7th edition of our report. The 370-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Corning, Inc.
- Finisar Corporation
- Finolex Cables Ltd.
- Furukawa Electric Co., Ltd.
- General Cable Corporation
- LEONI AG
- LS Cable & System Ltd.
- Prysmian Group