Lit Fiber Market Size & Share, by Type (Multi-Mode, Single-Mode); Application (Networking, IT & Telecommunication, Industrial, Aerospace & Defense); Connectivity (On-Net, Off-Net) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Rising demand for internet use- The Internet is a global network of interconnected devices. Fibre optics is the backbone of the internet, data is sent from one source to another via lighted fibers. Currently, 5.03 billion people use the internet globally, making up 63.1 percent of the world's population. The population using the internet is also rapidly growing. Internet consumption is driven by the expanding significance of cloud computing, IoT, and data transit and storage. The number of internet users is predicted to increase quickly in the next years as more businesses and individuals resort to cloud computing for a variety of functions.
• High demand for FTTx- Any broadband service design known as FTTx uses lit fiber as the optical channel for last-mile telecommunications, allowing data to be transmitted in a local loop. FTTH, FTTB, FTTP, FTTN, and FTTC are all included in FTTx. Lit fiber's capacity to accommodate higher bandwidth at faster speeds has made it a crucial element for network evolution. Communication applications are continually growing, and some of these features require higher bandwidth and faster speeds. Advanced uses include IoT, OTT, and video technology. As the use of these applications grows, more network topologies like FTTH and FTTB are required. The most bandwidth-intensive technologies are those that use video.
• Increasing usage of OTT platforms- The term "over-the-top" (OTT) describes how media content is distributed online, including audio, video, and other formats. To access the material, users of over-the-top (OTT) services do not require a subscription to traditional cable or satellite pay-tv services. Similar growing trends are being seen in over-the-top (OTT) and video technologies. In the US, two of the most well-known over-the-top (OTT) entertainment providers are SlingTV and Hulu. According to estimates, the OTT video industry will have 3,508.0 million users by 2027.  Consequently, lit fiber market demand will rise as the number of OTT users grows.

Challenges

• Cables' delicate structure will constrain market growth- Fiber is more prone to physical or mechanical damage than traditional metal wirings since it is thinner and lighter. During building renovations, lit fiber cables are easily destroyed or cut by accident. Even a single cut in the wire can cause significant difficulty. To prevent cable breakage, this must be inspected before deployment.
• Installing illuminated fiber is costly- Additionally, the user would need qualified personnel to install the lit fiber equipment and specialized equipment to guarantee the connection is stable. The user may incur significant costs at the end of the lit fiber installation process.
• Globally, the COVID-19 pandemic has had a substantial negative impact on the economy in several ways, indicating an unprecedented disruption in trade by forcing numerous suppliers to scale back on the construction and manufacturing of lit fiber network equipment.