As per Market Research Future Analysis, the Global Fiber Optics Market was valued at USD 8.1 billion in 2023 and is projected to grow to USD 15.3 billion by 2032, with a CAGR of 6.90% from 2024 to 2032. The growth is driven by increasing demand in FTTX and telecommunications, alongside technological advancements. The COVID-19 pandemic initially impacted the market but has since led to a surge in fiber optic network demand. The market is dominated by key players with manufacturing facilities across major regions, including Asia Pacific, North America, and Europe.
Key trends driving the Fiber Optics Market include advancements in technology and increased applications across various sectors.
Key companies include Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, OFS Fitel LLC, Prysmian Spa, Infinera Corporation, and others.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Fiber Optic Market Size has been hit badly during the COVID-19 pandemic, and this has made a huge windfall for the latest fiber optic network market. The market has been dominated by many primary key companies. These enterprises have their manufacturing plants and corporate head offices spreading at all the major locations of various countries across the Asia Pacific, the European region, North America, and the rest of the world. The majority of the modern, fiber optics market that is made by these enterprises is bought by different stakeholders for multiple applications. COVID-19 has influenced the operations of many prime manufacturer companies heavily but also badly influenced the profit of their stakeholders like suppliers and distributors.
Optical fiber is regarded as an attractive method for establishing dependable and secure connections between IoT devices. The rise of IoT and cloud computing has resulted in more bandwidth and better connectivity in workplaces and commercial office buildings, creating the potential for the industry. The increasing use of fiber optics for monitoring asset locations, temperature, and oil reserve levels in industries will drive market expansion in the future years.
During the projection period, the increased proclivity to improve data traction, security parameters, and product automation will drive market expansion. Furthermore, the integration of cloud computing and fiber networking for continuous workflow streamlining will drive market expansion. Similarly, many organizations’ adoption of cloud computing for customer relationship management (CRM) technologies will provide market impetus. The growing awareness of fiber optic technology, which includes better bandwidth speed capabilities, superior performance, and enhanced security, will bode well for the market in the coming years.
Based on Fiber Type, the Fiber Optics market is segmented into Glass and Plastic. The glass segment is expected to dominate the fiber optics market throughout the forecast period. The segment is also predicted to increase at a faster rate throughout the projection period. Glass optical fibers have a greater numerical aperture than plastic optical fibers, allowing more light rays into the system.
Based on Cable Type, the Fiber Optics market is segmented into Single-Mode and Multi-Mode. Due to its low cost and broad application in illumination and surgical lighting in the healthcare sector, the multi-mode fiber optic segment dominates the market, with a revenue share of 59.1% in 2022. Furthermore, multi-mode fiber optics is employed to produce improved quality, efficiency, and resolution in medical devices and diagnostics, operating rooms, telemedicine, and medical imaging. The multi-mode category also addresses communication, lighting, and sensing needs in-vehicle applications. Furthermore, because of its high bandwidth and low cost, the multi-mode segment is rapidly being employed as the communication medium of choice for mission-critical applications.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The market is divided into Telecom, Oil & Gas, BFSI, Medical, Railway, and Others based on Industry Vertical. The market is dominated by the telecom sector. Fiber optics technology's growth prospects in the telecom market are optimistic, owing to the technology's rising acceptance in communication and data transfer services. Fiber optics allows for high-speed data transport in both short- and long-distance communications.
Asia Pacific dominated the market with the highest revenue share. The expansion of the market in the North American area may be due to increased technological developments, broad acceptance in the IT & telecommunications, administrative sectors, and the development of fiber-integrated infrastructure. Rising demand for the Internet of Things (IoT) and connected devices, as well as increased deployment of broadband network platforms such as Fiber to the Premise, Fiber to the Building, Fiber to the Home, and Fiber to the Cabinet, all contribute to the positive growth of fiber optics in this region. Furthermore, the growing need in North America for linked wearables, smartphones, and tablets has considerably raised the demand for fiber optic networks, which drives demand for fiber optic cables in the Asia-Pacific region.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The market is characterized by fierce competition, with a few major rivals controlling a sizable market share. The primary focus is on innovative product development and collaboration among important parties. For example, in December 2021, Amphenol Corporation, a U.S.-based Electronic connection manufacturing business, announced the $715 million acquisition of Halo Technology Limited, a manufacturer of fiber optic interconnects devices. Using Halos' high-technology solutions, the program intends to improve Amphenol Corporation's fiber optic offering to IT and data communications, mobile networks, and broadband customers.
Glass
Plastic
Single-Mode
Multi-Mode
Telecom
Oil & Gas
Tunnel
Medical
Railway
Others
North America
US
Canada
Mexico
Europe
Germany
France
UK
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East & Africa
South America
| Attribute/Metric | Details |
| Market Size 2023 | USD 8.1 billion |
| Market Size 2024 | USD 8.4 billion |
| Market Size 2032 | USD 15.3 billion |
| Compound Annual Growth Rate (CAGR) | 6.90% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018-2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Fiber Type, Cable Type, and Industry Vertical. |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered | The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil |
| Key Companies Profiled | Optical Cable Corporation , Sterlite Technologies , Fujikura Limited , Finolex Cable Limited , Ofs Fitel LLC , Prysmian Spa , Infinera Corporation , Birla Furukawa Fibre Optics , AFC Group , Molex Incorporated , Anixter International , Luna , Avantes , Pepperl+Fuchs , Geokon , L-com.com , TE Connectivity , Extron Electronics and Others |
| Key Market Opportunities | Surging deployment of 5G |
| Key Market Dynamics | Emergence of IoT and Cloud Computing to Drive Market Growing internet penetration and data traffic Mounting demand for high bandwidth |
Fiber Optic Market Highlights:
Frequently Asked Questions (FAQ):
The global fiber optic market was valued at USD 8.1 Billion in 2023
Fiber Optics market is projected to reach at USD 15.3 Billion in 2032
Fiber Optics market Size is predicted to hit at a 6.90% of CAGR
Asia-Pacific is expected to hold the highest market share in the global Fiber Optics market.
Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, Ofs Fitel LLC, Prysmian Spa, Infinera Corporation, Birla Furukawa Fibre Optics, AFC Group, Molex Incorporated, Anixter International, Luna, Avantes, Pepperl+Fuchs, Geokon, L-com.com, TE Connectivity, Extron Electronics and Others.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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