Multi-mode Optical Fibers Market Size, Share, Growth, and Industry Analysis, By Type (62.5/125 µm, 50/125 µm, 50/125 µm and Others) By Application (Communication/Devices, Military, Electric Power System, Medical, Energy/Rail Transit and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Multi-mode Optical Fibers Market REPORT OVERVIEW

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The global multi-mode optical fibers market size was USD 5602.3 million in 2022 and is projected to touch USD 22658 million by 2031, at a CAGR of 16.8% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Fibre optics technology is a modern breakthrough that has grown as a result of rigorous research and development undertaken by academics and scientists worldwide. Several connector manufacturers are increasing their product ranges to connect highly shielded and precisely aligned fibre optic channels. Amphenol Corporation, a maker of electrical connections based in the United States, for example, upgraded its Amphe-Lite connector line in July 2020 to meet the increased demand for fibre optic connection applications in the oil and gas, medical, and power transmission industries.

COVID-19 Impact: The COVID-19 Emerged Lockdown to Stardom the Demand

The COVID-19 epidemic in early 2020 has damaged various industries, including the electronic sector. The country's lockdown, along with new severe government standards for managing virus spread in the environment, has hampered market demand for a variety of consumer gadgets and related products. Despite the aforesaid predictions, the market for fibre optics sees a huge increase during the pandemic period. The primary variables credited to the market's notable rise include rapid changes in work culture across various firms, changes in lifestyle, and many others.

In the United States, only 7% of professionals worked from home, and employers were responsible for ensuring that employees had constant internet access. However, the pandemic epidemic has modified all of these trends; now, a stable internet connection at home is critical for functioning in a work-from-home setting. Furthermore, the increase in online schooling during the pandemic is another major reason driving the rise of multi-mode optical fibers in order to get a smooth internet connection.

LATEST TRENDS

"The Innovative Fibre Networks and Government Initiatives to Drive the Market"

The combined efforts of enterprises to develop fibre networks to lower operations and maintenance (O&M) and optical distribution network (ODN) construction and costs will have a substantial impact on the market throughout the predicted period. Furthermore, rising government initiatives for multi-mode optical fibers cable deployment are contributing to market growth.

For example, the Government of India announced in July 2022 a merger of Bharat Sanchar Nigam Ltd, a telecommunications business, with Bharat Broadband Network Ltd, a broadband provider, to build the country's largest optic fibre cable (OFC) network. Through this merger, BSNL will take entire control of BBNL's 5.67 lakh kilometres of multi-mode optical fibers network scattered across the country.

Multi-mode Optical Fibers Market SEGMENTATION

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• By Type

Based on type the multi-mode optical fibers market is classified into 62.5/125 µm, 50/125 µm, 50/125 µm and others.

• By Application

Based on application the multi-mode optical fibers market is classified as communication/devices, military, electric power system, medical, energy/rail transit and others.

DRIVING FACTORS

"The Rising Adoption in the Medical Segment to Boost the Market Demand"

Because of the increasing usage of optic technology devices in these regions, the medical segment is likely to rise rapidly. Ophthalmic lasers, X-ray imaging, laboratory & clinical diagnostics, surgical endoscopy & microscopy, surgical instruments, and light treatment are just a few of the key applications of fibre optic technology in the healthcare & medical industry. The increased desire for minimally invasive surgeries, which patients prefer, can be ascribed to the growing demand for multi-mode optical fibers technologies in the medical industry.

Patients are also requesting more modern medical treatments, opening the path for more advanced and competent medical practices. The increasing use of fibre optics technology in the healthcare sector drives the multi-mode optical fibers market growth.

"Rising Demand from Railways, Military and Aerospace to Enlarge the Market Share"

The railway track maintenance done by multi-mode optical fibers enables better track repair with ease and at a significantly lower cost, which contributes to the expansion of the Railway segment. Military and aerospace markets are fairly penetrated and predicted to grow fast in the future, with their market share increasing during the forecast period. The increasing deployment of fibre optic cables beneath the sea contributes to market growth by increasing utilization of deployed fibre, improving network capacity, and increasing spectral efficiency. Furthermore, the main advantage of fibre optic cables beneath the water is that vast volumes of data may be sent quickly and evolve to allow for the creation of new technologies.

RESTRAINING FACTORS

"The Distance Limit to Restrain the Market Growth"

The distance restriction for 10 Gb/s over OM4 is 400 metres. This limit is defined by TIA and IEEE standards based on worst-case assumptions. However, these distances are likely to exceed 500 or 550 metres. The 400-meter limit is based on a transceiver with a spectral width of 0.65 nanometers, but most of these transceivers today have a spectral width of 0.47 nanometers, thus you can typically extend longer than 400 metres. However, the distance limit can restrain the growth of multi-mode optical fibers market share.

Multi-mode Optical Fibers Market REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market with the Robust Growth and Major Players"

In 2022, Asia Pacific dominated the global multi-mode optical fibers market with a revenue share of 28.8%. The expansion can be ascribed to increased technological breakthroughs, widespread usage in the IT and telecommunications sectors, administrative sectors, and the construction of fiber-integrated infrastructure. Rising demand for the Internet of Things (IoT) and connected devices, as well as increased deployment of broadband network platforms such as Fibre to the Premise, Fibre to the Building, Fibre to the Home, and Fibre to the Cabinet, all contribute to the positive multi-mode optical fibers market growth in this region. Furthermore, the growing need for linked wearables, smartphones, and tablets has raised the demand for fibre optic networks, which drives demand for fibre optic cables.

KEY INDUSTRY PLAYERS

"Prominent Manufacturers to Contribute Towards Expansion of Market"

The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players, and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.

List of Market Players Profiled

• Corning (U.S.A)
• Alcatel-Lucent (France)
• Fujikura (Japan)
• Sumitomo Electric (Japan)
• Furukawa Electric (Japan)
• Pirelli (Italy)
• Nexans (France)
• LS Cable (South Korea)
• Hengtong Cable (China)
• Lynn Electronics (Pennsylvania)
• Fiber Home Technologies Group (China)
• Futong Group (China)
• Tongding Group (China)
• Shenzhen Tefa Touchplus Information Corp (China).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.