Fiber Optics Systems Companies - Corning Incorporated (US) and Prysmian Group (Italy) are the Key Players
The fiber optics market is expected to grow from USD 3.2 billion in 2024 to USD 6.8 billion by 2029, with a CAGR of 16.4% from 2024 to 2029.
This market is in demand due to factors like growing internet penetration and data traffic, the rising number of data center facilities worldwide, and the mounting demand for high bandwidth. The rising deployment of data center facilities worldwide is expected to drive the growth of the fiber optics market. Data centers require high bandwidth, wide-area coverage, low power consumption, and end-to-end connectivity between two facilities. Fiber optics plays a major role in connecting two or more data centers located thousands of kilometers away from each other; they help transmit huge volumes of data over long distances, with low latency and higher transmission rates.
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Major Fiber Optics companies include:
- Corning Incorporated (US)
- Sumitomo Electric Industries, Ltd. (Japan)
- YOFC (China), LS Cable & System Ltd. (South Korea)
- Prysmian Group (Italy)
- Fujikura Ltd. (Japan, Furukawa Electric Co. Ltd. (Japan)
- Optical Cable Corporation (US)
- LS Cable & System Ltd. (South Korea)
- Proterial Cable America Inc., (US), )
- LEONI (Germany)
- Coherent Corporation (US)
Major players in the fiber optics market are Corning Incorporated (US), Prysmian Group (Italy), Sumitomo Electric Industries, Ltd. (Japan), Yangtze Optical Fibre and Cable Joint Stock Limited Company (China) and Fujikura Ltd. (Japan), LEONI (Germany), LS Cable & System Ltd. (South Korea), Hengtong Group Co., Ltd. (China), Furukawa Electric Co. Ltd. (Japan).
Corning Incorporated (US)
Corning Incorporated has a strong presence in North America and has its distributors in other regions to cater to the growing demand for fiber optics. Through its high-quality and low-cost fiber optics, it has become a significant player in the fiber optics market. The company is also highly inclined toward increasing its manufacturing capacity to meet the huge demand from developing nations. Corning Incorporated is a leading innovator in the fiber optics market. The company has a strong and diversified regional presence globally, with Asia Pacific as the major shareholder. In March 2023, Corning Incorporated announced building an optical fiber manufacturing facility in North Carolina. Such strategic choices made by the company will help meet the growing demand from customers worldwide in the long run.
Prysmian Group (Italy)
Prysmian Group (Italy) is one of the leading companies in the energy cables and telecom cable systems industries. The company is highly focused on establishing supply agreements with its customers to generate revenue. It has a strong presence in Europe, a significant regional presence, and a known brand identity in the market. It is focusing on continuing its position in the market by working on its relationships with customers in the key industries through innovations in applications and technological areas.
Related Reports:
Fiber Optics Market by Fiber Type (Glass, Plastic), Cable Type (Single-mode, Multi-mode), Deployment (Underground, Underwater, Aerial), Application (Communication, and non-communication) and Region – Global Forecast to 2029
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