According to Allied Market Research, the global single-mode optical fiber market was $3.02 billion in 2017 and is expected to reach $6.81 billion by 2025, registering a CAGR of 10.8% during the forecast period.
High adoption rate of fiber-to-the-home (FTTH) connectivity and emergence of the Internet of things (IoT) are expected to drive the growth of the global single-mode optical fiber market. However, high installation cost and growth in wireless communication systems are expected to hinder the market's growth. Technological advancements in fiber-optic cable technology, implementation of 5G, and increasing investments in optical fiber cable (OFC) network infrastructure are expected to create lucrative opportunities for the market players in near future.
The G.652 type optical fiber segment held the largest share in 2017, contributing about 87% of the total market revenue, as it is primarily deployed in long-haul and metro-city networks. However, the G.657 type optical fiber segment is expected to register the highest CAGR of 19.8% during the forecast period, as it offers better bend performance for FTTX and enterprise networks. The other segments analyzed in the report include G.653, G.655, and G.656 type single-mode fibers.
The CATV segment is projected to have the fastest CAGR of 16.5% during the forecast period, owing to increase in broadband penetration and digitalization of CATV. However, the telecommunication and networking segment held the largest share, contributing about 59% of total market revenue, owing to rise in need for greater bandwidth and faster connections. The other segments considered in the scope of the study include data centers, factory automation & industrial networking, military, and others.
The single-mode optical fiber market in the Asia-Pacific region dominated the global market in terms of revenue in 2017, contributing more than two-thirds share, owing to the rise in demand for Internet, increase in industrialization, and surge in awareness about benefits of the technology across developing countries. However, North America is expected to have the fastest CAGR of 14.8% during the forecast period, owing to a rise in investment in the defense sector and enhancement in security infrastructure.
Major market players include CommScope, FiberHome, Furukawa Electronic, Sumitomo Electric, The Prysmian Group, Corning, Fujikura, Nexans, Cable Joint Stock, Sterlite Technologies, and Yangtze Optical Fiber.