Report Highlights
Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber) to Reach $1,053.4 Million by 2031
Market Segmentation:
Segmentation 1: by End User
- Telecommunication
- Medical
- Aerospace and Defense
- Information Technology
- Others
In 2021, the telecommunications industry led the global next-generation optical fiber market (multicore and hollow core fiber) in terms of value.
Segmentation 2: by Material Type
- Glass
- Plastic
In 2021, the global next-generation optical fiber market (multicore and hollow core fiber) is estimated to be led by the glass segment in terms of value.
Segmentation 3: by Product Type
- Multicore Fiber
- Hollow Core Fiber
The global next-generation optical fiber market (multicore and hollow core fiber) is estimated to be led by multicore fiber in terms of product type in terms of volume.
Segmentation 4: by Region
- North America - U.S., Canada, and Mexico
- Europe - Germany, France, Italy, Spain, and Rest-of-Europe
- China
- U.K.
- Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific and Japan
- Rest-of-the World
In the next-generation optical fiber market (multicore and hollow core fiber), North America is anticipated to gain traction in terms of next-generation optical fiber production, owing to the continuous growth in the adoption of advanced telecommunications technologies such as 5G and the presence of key manufacturers in the regions.
Recent Developments in the Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber)
- 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. This was designed and created in-house by top integrative research and development professionals at STL's Maharashtra Center of Excellence. To increase network bandwidth by 4X per fiber while maintaining the very same radius, STL's Multiverse uses space division parallelism.
- 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).
- In October 2021, OCC Corporation, a wholly-owned subsidiary of NEC Corporation, partnered with Sumitomo Electric Industries, Ltd. for the development of multicore optical fiber cable. Furthermore, the company announced the completion of the first trial of uncoupled four-core submarine fiber cable and verified its transmission performance to meet the exacting demands of global telecommunications networks.
Demand – Drivers and Limitations
The following are the demand drivers for the global next-generation optical fiber market (multicore and hollow core fiber):
- Growing Demand for Cloud Computing and Data Centers
- Growing Demand in Biomedical Applications
- Growing Demand for Microelectronics
The market is expected to face some limitations as well due to the following challenges:
- High Installation Cost
- Lack of Skilled Workforce
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader to understand the different next-generation optical fibers, multicore fiber, and hollow core fiber, and the various material types, glass, and plastic involved in the production of next-generation optical fibers. Moreover, the study provides the reader with a detailed understanding of the global next-generation optical fiber market (multicore and hollow core fiber) based on the end user (telecommunication, medical, aerospace and defense, and information technology, among others). Next-generation optical fibers are gaining traction in end-user industries on the back of high-speed and large-capacity data transmission requirements and are also being used in developing high-efficiency sensors and laser products.
Growth/Marketing Strategy: The global next-generation optical fiber market (multicore and hollow core fiber) has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global next-generation optical fiber market (multicore and hollow core fiber). For instance, in March 2020, OFS Fitel, LLC announced the successful development of its hollow core technology-based optical fiber cables for low latency transmission, which has the ability to provide faster transmission with high capacity as hollow-core fiber arrives 1.54 microseconds faster for each kilometer traveled compared to conventional solid-core fiber.
Competitive Strategy: Key players in the global next-generation optical fiber market (multicore and hollow core fiber) analyzed and profiled in the study involve next-generation optical fiber manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global next-generation optical fiber market (multicore and hollow core fiber) has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Industrial Impact
Next-generation optical fiber market (multicore and hollow core fiber) offers high-speed and large-capacity data transmission with reduced attenuation, dispersion, and distortion, among others. As a result, these advanced optical fibers are getting prominence in a variety of industries, including telecommunication, medical, aerospace and defense, and information technology, among others. One area where implementation has been significantly greater is the telecommunications industry, which has created opportunities for both existing market participants and market entrants.
Furthermore, next-generation optical fibers have a moderate to high impact on end-user industries; however, in the upcoming future, with increasing penetration of telecommunication, medical, aerospace and defense, information technology, and other industries, the impact is anticipated to increase.
Impact of COVID-19
COVID-19 had an immediate and significant impact on the global next-generation optical fiber market (multicore and hollow core fiber) because of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market. The lockdowns imposed by the governments significantly reduced raw material productivity due to a shortage of operations in many regions throughout the world. The telecommunication, medical, aerospace and defense, information technology, and other end-user sectors have been in a slowdown for the last couple of years. The global demand for next-generation optical fibers has been severely impacted by these market downturns in the end-user industries. However, the market is anticipated to recover and is expected to rise gradually over the forecast period.
Report Synopsis
| Report Metrics | Details |
| Base year considered | 2022 |
| Forecast period considered | 2022-2031 |
| Base year market size | $137.4 Million in 2022 |
| Market size forecast | $1,053.4 Million by 2031 |
| Growth rate | 25.40% |
| Units considered | $ Million |
| Segments covered | By End-user, By Material Type, By Product Type, By Region |
| Industry covered | Advanced Materials & Chemicals |
| Regions covered | North America, Europe, Asia-Pacific and Japan, Middle East and Africa, South America |
| Countries covered | U.S., Canada, Mexico, Germany, France, Spain, Italy, Rest-of-Europe (RoE), U.K., China, Japan, South Korea, India, Rest-of-Asia-Pacific and Japan, Rest-of-the-World |
| Companies studied |
|
Global Next-Generation Optical Fiber Market (Multicore and Hollow Core Fiber): Industry Overview
The global next-generation optical fiber market (multicore and hollow core fiber) is projected to reach $1,053.4 million by 2031 from $137.4 million in 2022, growing at a CAGR of 25.4% during the forecast period 2022-2031.
The demand for the next-generation optical fiber is anticipated to grow with the increasing demand from end-user industries such as telecommunications, information technology, medical devices, and aerospace and defense, among others. Furthermore, it is anticipated that during the projected period (2022-2031), the increasing adoption of next-generation optical fibers in the telecommunications industry and the growing information technology products in several emerging economies, including China, India, and others, are expected to further fuel the advancement of global next-generation optical fiber market (multicore and hollow core fiber). However, the design complexities and power attenuation in the next generation of optical fibers are leading to an increase in the cost of components and installation. Furthermore, the shortage of skilled workforce in the optics industry is acting as a challenge to the growth of the next-generation optical fiber market (multicore and hollow core fiber).
Market Lifecycle Stage
The global next-generation optical fiber market (multicore and hollow core fiber) is in the growth phase. Increased investment and research and development activities are expected to boost the market. Furthermore, due to high demand from end-user industries and the rising need for high-speed and large-capacity data transmission, the growing adoption of smart electronic devices globally is expected to increase the demand for multicore and hollow core optical fibers, thereby bolstering the global next-generation optical fiber market. Moreover, the global next-generation optical fiber market is expected to benefit from the growing implementation of advanced and efficient telecommunication technologies such as 5G, which promotes market expansion.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The global next-generation optical fiber market (multicore and hollow core fiber) has been segmented by material type, among which glass accounted for around 84.5% and plastic holds around 15.5% of the total demand in 2021 in terms of value.
Some of the prominent established names in this market are:
- Company Type 1 (by Product Type): Hollow Core Optical Fiber
- Newport Corporation
- OFS Fitel, LLC
- IRFlex Corporation
- IXBlue
- Thorlabs, Inc.
- NKT Photonics A/S
- IDIL Fibres Optiques
- Sintec Optronics Pte Ltd
- Guiding Photonics
- RISE AB
- Asahi Kasei Corporation
- Lumenisity
- Few-cycle
- Company Type 2 (by Product Type): Multicore Optical Fiber
- NEC Corporation
- OFS Fitel, LLC
- IXBlue
- Sterlite Technologies Limited
- Sumitomo Electric Industries, Ltd.
- Corning Incorporated
- IPT Fiber
- Humanetics
- Zhongshan Meisu Technology Co.,Ltd.
Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).
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