The latest market report published by Credence Research, Inc. “Global Industrial Fiber Networking Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global market has acquired a market size of around USD 4.01 billion in 2020 and likely to reach a healthy CAGR of over 14.13% in the forthcoming years, i.e. from 2021 to 2027 to reach around USD 11.07 billion in 2027.
The Industrial Fiber Networking Market is expected to grow promisingly over the mentioned forecasted period. The main reason is the increased investments and research that manufacturers are making to upgrade and innovate in the market. Also, there is a growth in awareness of fiber networking options worldwide, further propelling the market growth.
Fiber to the Building will Dominate
Fiber to the Home (FTTH), Fiber to the Building (FTTB) and Fiber to the Cabinet (FTTC) are some of the major types of the Industrial Fiber Networking market. Among all Fiber to the Building (FTTB) is a leading segment by type and accounted for the largest share of over 40% in total revenue generation in 2020. Further it is expected to keep its dominance over the forecast period. While, Fiber to the Home (FTTH) is expected to post the highest CAGR during the analysis period.
Automation is Major Application for Industrial Fiber Networking
Digital manufacturing, Automation, Energy monitoring and protection, Smart cities and Industrial Ethernet are key application areas for the Industrial Fiber Networking. Automaton is most prominent industrial application for the Industrial Fiber Networking with over 15% share in 2020. Digital manufacturing and smart cities makes for another important avenues for the growth of Industrial Fiber Networking in the years to come.
Expansion of Network is Key to Success
AT&T Fiber, Crown Castle Fiber, Verizon Fios, EarthLink Fiber, CenturyLink Fiber Gigabit, Frontier Communications and Monmouth Telephone & Telegraph are some of the leading providers of Industrial Fiber Networking. Major players are currently focusing on expansion of their network to cover wide are and provide excellent networking solutions. However, major players are facing challenges such as high cost of installation coupled with complex nature of law in different countries regarding installation of Industrial Fiber Networking.
Asia Pacific to Grow at Rapid Pace
Market for Industrial Fiber Networking in Asia Pacific is growing at a rapid pace. It is expected to post CAGR of over 14.5% during the forecast period. However, at present market is dominated by North America owing access to advanced technology, high expenditure capacity and growing demand for high-speed internet in the region. While, backed by strong demand from Germany, UK and France, the demand for Industrial Fiber Networking in Europe is likely to pick up pace.
Global Industrial Fiber Networking Market by Type, 2015 – 2027
- Fiber to the Home (FTTH)
- Fiber to the Building (FTTB)
- Fiber to the Cabinet (FTTC)
Global Industrial Fiber Networking Market by Application, 2015 – 2027
- Digital manufacturing
- Energy monitoring and protection
- Smart cities
- Industrial Ethernet
Global Industrial Fiber Networking Market: Key Players
- AT&T Fiber
- Crown Castle Fiber
- Verizon Fios
- EarthLink Fiber
- CenturyLink Fiber Gigabit
- Frontier Communications
- Monmouth Telephone & Telegraph
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