The global Fiber Optic Plates Market is estimated to be valued at US$ 1.11 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Fiber optic plates are used as data transmission mediums that offer high bandwidth, low loss and allow transmission of data over longer distances. They provide stable and flexible light transmission while also being robust and resistant to electromagnetic interference.
Market key trends:
One of the key trends driving the fiber optic plates market growth is the rising demand from the aerospace and defense sector. Fiber optic plates are increasingly being used in aircraft and space platforms to transmit data and signals due to their light weight and immunity to electromagnetic interference. They help enable real-time transmission of information related to aircraft health monitoring, terrain mapping and enhanced situational awareness. Additionally, growth in telecommunication infrastructure and increasing deployment of FTTP networks are also fueling demand for fiber optic plates for last mile connectivity and 5G implementations.
The global fiber optic plates market is dominated by the thin film segment. Thin film fiber optic plates have thicknesses typically ranging from 0.1 to 0.5 mm and offer high light transmission efficiency. They are widely used in endoscopy, microscopy, and imaging due to their thin profile, flexibility, and light weight properties.
The global Fiber Optic Plates Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand for fiber optic plates in medical applications.
The market size for fiber optic plates is expected to reach US$ 1.11 Bn by 2023.
The Asia Pacific region dominated the global fiber optic plates market in 2023, accounting for around 35% of the total share. Rapidly growing economies in countries like China and India are driving heavy investments in the healthcare sector and thus boosting the demand for fiber optic plates in the region. North America is expected to witness the fastest growth during the forecast period due to rising adoption of advanced medical imaging technologies.
Key players operating in the fiber optic plates market are Asahi Glass Co. Ltd. (AGC), Corning Incorporated, SCHOTT AG, Incom Inc., Hamamatsu Photonics K.K., Nippon Electric Glass Co.,Â Ltd. (NEG), II-VI Incorporated, Hamamatsu Corporation, Saint-Gobain S.A., Asahi Kasei Corporation, Leoni AG, TDK Corporation, Mitsubishi Chemical Corporation, Furukawa Electric Co.,Â Ltd., GS Plastic Optics. Asahi Glass captured the largest market share in 2023 owing to its wide product portfolio and global distribution network.