July 13, 2020
According to the research report titled ‘Global Single Mode Optical Fiber Market Size study with COVID-19 impact, by Type (G.652, G.653, G.654, G.655, G.656 and G.657), by Application (Telecommunication & Networking, Data Centers, CATV, Factory Automation & Industrial Networking, Military and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global single mode optical fiber market was worth USD 3705.09 billion in 2019 and is projected to expand with a CAGR of 10.8% through 2026.
Single mode optical fiber is designed for transmission of a single ray of light as a carrier, used for signal transmission over long distances. These cables support higher bandwidths and transmission rate which is approximately 50 times longer in distance as compared to multimode fiber cables. Single-mode optical fiber cables are widely favored in fiber-optic communications owing to their advantages of long-distance transmission and higher bandwidths over wire cables.
Single mode optical fiber plays a vital part in telecommunication sector for relaying signals with minimum loss, and transmitting television, telephone, and internet communication signals. Long-distance signal transmission capabilities of these fiber cables have impelled their demand in telecommunication sector. Hence, robust growth of telecommunication sector globally is positively impacting the growth of global single mode optical fiber market.
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As per the data revealed by Statista on 27 March 2019, global telecommunication sector was worth USD 1.4 trillion in the year 2017 and is projected to reach USD 1.46 trillion by 2020. Whereas, the International Telecommunication Union, on December 6, 2018, stated that global internet users were 43% (3,170 million) in 2015, which surged to 51.2% (3,896 million) by 2018. In addition, homes with internet access across the globe accounted for 48.9% in 2015 and witnessed a spike to 57.8% by 2018. Hence, rising internet penetration is likely to propel global single mode optical fiber market growth over the anticipated timeline. On the contrary, rising popularity of wireless communication systems may impede the market growth in the upcoming years, cites the research document.
Considering the regional landscape, global single mode optical fiber market is fragmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. North America currently holds significant market share pertaining to the technological advancements in the communication sector.
Meanwhile, Asia Pacific market is slated to grow substantially over the forecast timeline owing to rapid progression of the telecommunication sector and high demand for internet in the region.
The Prysmian Group, Sterlite Technologies Ltd., Sumitomo Electric Industries Ltd., Nexans S.A., Furukawa Electronic Co. Ltd., Fujikura Ltd., FiberHome Technologies, Corning Inc., and CommScope Inc. are some major players in global single mode optical fiber market.