Global Security Screening Market 2023

Description
The next-generation optical fiber market, encompassing multicore and hollow core fiber, is poised to experience substantial growth, reaching an estimated value of $497.6 million by 2029. This growth is driven by the widespread adoption of these advanced fibers in industries such as telecommunications, information technology, medical, and aerospace. Notably, the telecom sector, particularly in emerging economies, plays a significant role in propelling this upward trend.

Next-generation optical fiber offers a multitude of advantages, making it highly sought after in various sectors. Its ability to facilitate high-speed and large-capacity data transmission, coupled with reduced attenuation, dispersion, and distortion, positions it as a crucial component in supporting the ever-increasing demand for cloud computing services and data centers. As these industries continue to expand, the need for efficient data transmission becomes paramount, further driving the demand for next-generation optical fiber.

Market Segmentation
The market is divided into different segments, taking into account factors such as the type of product, the type of material, the end user, and the region.

Segmentation by Product Type
Multicore Fiber
Hollow Core Fiber

Segmentation by Material Type
Glass
Plastic

Segmentation by End User
Telecommunication
Medical
Aerospace and Defense
Information Technology
Others

Segmentation 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 2022, the hollow core fiber segment dominated the global next-gen optical fiber market. It is driven by increasing demand from industries such as telecommunications, medical devices, aerospace and defense, and information technology. Hollow core fiber offers higher efficiency, broader wavelength range, and lower latency compared to solid core fibers. It is suitable for applications requiring simultaneous transmission of multiple wavelengths and fast data transmission. Additionally, its ability to transmit light through gases makes it attractive for high-temperature environments or outer space. Glass is the dominant material, especially for manufacturing multicore optical fiber. It offers high transparency, low attenuation, and excellent mechanical stability, ideal for telecom and data center interconnects. Glass fibers enable long-distance transmission and ensure reliability. The telecom segment is the largest, driven by the demand for high-speed technologies like 5G. Next-gen optical fibers are used for high-speed data transmission, sensing, and detection. Multicore fibers increase network capacity efficiently, enabling parallel transmission within a single fiber.

North America dominated the next-generation optical fiber market due to the widespread adoption of advanced telecommunication technologies and strong presence of industry players. The region's developed economies and growing industries contribute to the rapid growth of end-use industries like telecommunications, information technology, healthcare, and aerospace and defense. With the continued growth of these industries, the next-generation optical fiber market is expected to further expand in North America.

Competitive Landscape
The selection of companies for profiling was determined through input from primary experts, analysis of company coverage, assessment of product portfolio, and evaluation of market penetration. Key companies profiled in this report include Newport Corporation, NEC Corporation, OFS Fitel, LLC, IRFlex Corporation, IXBlue, Thorlabs, Inc., NKT Photonics A/S, IDIL Fibres Optiques, Sintec Optronics Pte Ltd, Guiding Photonics, Sterlite Technologies Limited, Sumitomo Electric Industries, Ltd., Corning Incorporated, RISE AB, Asahi Kasei Corporation, IPT Fiber, Lumenisity, Few-cycle, Humanetics, Zhongshan Meisu Technology Co., Ltd.

Recent Industry Developments
Sterlite Technologies Limited launched India's first in-house developed multicore optical fiber in October 2022, increasing network bandwidth by 4 times without changing the fiber diameter.

Lumenisity, a Microsoft subsidiary, introduced CoreSmart for euNetworks Fiber UK Limited in September 2022, utilizing hollow core fiber for a 14 km distance.

In October 2021, OCC Corporation collaborated with Sumitomo Electric Industries, Ltd. to create multicore optical fiber cable. They successfully conducted the initial trial of a four-core submarine fiber cable, meeting global telecommunications network demands.