USD 8.76 billion
Optical Fiber Market Size, Share, Growth Analysis, By Mode Type(Single Mode and Multimode), By Type(Glass Optical Fiber, and Plastic Optical Fiber), By Industry Vertical(Telecom & IT, Public Sector, Healthcare, Energy & Utilities), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20D2244 |
Region:
Global |
Published Date: April, 2024
Pages:
199
|Tables:
91
|Figures:
71
Optical Fiber Market Insights
Optical Fiber Market size was valued at USD 9.36 Billion in 2023 and is poised to grow from USD 10.01 Billion in 2024 to USD 15.97 Billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).
Fiber optics technology is a modern breakthrough that has developed because of thorough research and development work undertaken by scientists and researchers worldwide. Many connector manufacturers are diversifying their product offerings to include fiber optic channels that are precisely aligned and highly shielded. For example, Microsoft purchased the English provider of fiber optic devices Luminosity Limited in December 2022. Through this acquisition, Microsoft hopes to improve its capacity to meet the stringent latency and security requirements of its Cloud Platform and Services clients while also strengthening its ability to improve its global cloud infrastructure.
During the anticipated period, there will be a major impact on the market from firms working together to innovate fiber networks to lower operations and maintenance (O&M) and optical distribution network (ODN) construction and costs. Also, the industry is growing due to more government initiatives for fiber optic cable development. The market expanded due to the widespread use of fiber-optic cables beneath the ocean, which boosted the network's capacity and enhanced spectral efficiency. Furthermore, a key advantage of fiber optic cables submerged in the ocean is the speedy transmission of massive volumes of data, which advances to facilitate the creation of new technologies.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Multimode
Fastest Growth
Single Mode
Growth Rate
6.9% CAGR
Global Opticle Fiber Market ($ Bn)
Country Share for Asia Pacific (%)
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Optical Fiber Market Segmental Analysis
The global optical fiber market is segmented based on mode type, fiber type, industry vertical type and regional type. In terms of mode type, the market is segmented into single mode and multimode. Based on fiber type, the market is bifurcated into glass optical fiber and plastic optical fiber. Based on industry vertical type, the market is bifurcated into Telecom & IT, Public Sector, healthcare, energy & utilities, aerospace & defense, manufacturing and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. With many benefits including high attenuation and dispersion, excellent data-transmitting capabilities, and others, the mode segment leads the market overall and is predicted to stay that way throughout the projection period.
Analysis by Mode
As per categorization by mode type, the market is classified into single mode and multimode. Among these, multimode earned the largest share and continues to dominate the market. As multi-mode fiber optics are inexpensive and often used for surgical lighting and illumination in the healthcare industry, they accounted for the biggest revenue share. In automotive applications, multi-mode segment also offers a solution for lighting, sensor, and communication needs. Furthermore, due to its high bandwidth and low cost, multi-mode segment is becoming the preferred communication medium for mission-critical applications.
In the fiber optics sector, revenue from the signal segment is anticipated to increase throughout the projected period. The single-mode fiber optics market is seeing a growth in demand due to the growing need for long-distance transmission applications. Telecom firms usually utilize single-mode fibers for long-distance and high-bandwidth applications. POF cables are distinguished from their single and multimode equivalents by the core materials utilized in their production.
Analysis by Industry Vertical
The telecom sector holds the largest revenue share, dominating the market. Due to the rising use of technology in communication and data transmission services, fiber optics technology's growth prospects in the telecom sector seem good. High-speed data transfer services for both short- and long-distance communications are made possible by fiber optics. The need for fiber optic installations is increasing due to the increased popularity of cloud-based applications, audio-video services, and video-on-demand (VoD) services. Additionally, optical communications made it possible to build communications networks with significantly reduced transmission medium loss and over considerably longer distances.
Due to optical technology products becoming more and more popular in various sectors, the medical segment is predicted to rise quickly. Tight rules imposed by government regulatory bodies and medical organizations are helping the fiber optics business to thrive in the medical field, which will ultimately propel the global market to grow at a substantial rate during the predicted time. The rise of the railway segment is attributable to the easier and more affordable track repair made possible by fiber optic railway track maintenance. The military and aerospace industries have a moderate level of penetration and are anticipated to grow quickly in the future. During the forecast period, their market share is likely to increase.
Global Opticle Fiber Market By Mode (%)
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Optical Fiber Market Regional Insights
In recent years, the Asia Pacific region held a dominant revenue share of the global industry. The expansion is due to increased technological breakthroughs, widespread adoption in the administrative, IT, and telecommunications sectors, and the development of fiber-integrated infrastructure. One of the main forces behind the Asia Pacific region's economic success has been the quick spread of IT and telecom infrastructure. Smartphone, laptop, and other digital gadget demand has surged due to rising internet penetration rates and a burgeoning middle class. As a result, the market for digital services, software, and apps is expanding rapidly, increasing the region's revenue share in the worldwide market.
With the increasing need for high-speed internet and data transmission, North America is one of the world's main markets for the fiber optics industry. With numerous telecommunications and technology businesses investing in fiber optic networks, the United States is one of the greatest users of fiber optic technology. The region's economy is also growing because of the growing use of fiber optics in a variety of end-user sectors, including healthcare and defense. The need for fiber optics in North America will increase due to the emergence of smart cities and the growing uptake of loT technology. In addition, the business is expanding because of government programmes to upgrade communications infrastructure and the growing need for data centers' computational power.
Global Opticle Fiber Market By Geography
- Largest
- Fastest
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Optical Fiber Market Dynamics
Drivers
Global Digital Revolution
- The amount of people using the internet has been increasing exponentially worldwide. Social media services, online entertainment, Voice over IP (VoIP), and mobile payments have grown widespread due to the surge in internet usage. As a result, with the widespread use of tablets, laptops, smartphones, and other wireless devices, traffic related to data services, video streaming, online gaming, and the internet has increased significantly.
Interconnected Growth
- To get to its destination, wireless traffic passes across a wired network of fibre optics. Therefore, landline networks like fronthaul and backhaul are primarily responsible for the expansion of mobile communications. Globally, there is an enormous amount of data generation and repetition due to the increasing use of multimedia. The expansion of the fibre optics market will be fuelled by the increased deployment of new fibre optic cables and subsystems due to the increasing amount of data generated.
Restraints
Difficulty Navigating Challenges
- For fibre optics manufacturers, one of the main obstacles is the growing ubiquity of wireless communication systems over cable ones. Data is transferred between locations in wireless communications networks by means of the microwave radio spectrum. The data is sent to the dishes, antenna systems, and receiving devices from a single central location. Radio frequency (RF) and fibre space optics (FSO) are the two main technologies utilised in wireless communication.
Communication Application Challenges
- There is no mutual interference between RF and FSO technologies, and installation costs are lower. In comparison to fibre optics technology, these systems are therefore more efficient in communication applications. Furthermore, wireless communication systems are becoming more popular than fibre optics, particularly in applications that demand a greater data transfer rate, which is further slowing the growth of the market.
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Optical Fiber Market Competitive Landscape
The market is characterized by fierce competition, with a few powerful global rivals controlling a sizable portion of the industry. The creation of new products and cooperation amongst important actors are the main priorities. Amphenol Corporation, a U.S.-based manufacturer of electronic connectors, said that it will acquire fiber optic interconnects maker Halo Technology Limited for about $715 million. With Halos's cutting-edge equipment, the programme seeks to improve Amphenol Corporation's fiberoptic offering to mobile networks, broadband subscribers, and IT and data communications. Key firms including Corning Incorporated, Prysmian Group, Furukawa Electric Co., Ltd., Fujikura Ltd., and Sterlite Technologies Limited dominate the highly competitive global optical fibre market. To hold onto their market positions in the face of the growing demand for high-speed data transmission solutions, these organizations compete through product diversity, innovation, and strategic partnerships.
Top Player’s Company Profiles
- Corning Incorporated (US),
- Prysmian Group (Italy),
- Sumitomo Electric Industries, Ltd. (Japan)
- Yangtze Optical Fibre and Cable Joint Stock Limited Company (China)
- Fujikura Ltd. (Japan)
- AFL (US)
- Birla Furukawa Fiber Optics Limited (India)
- Corning Incorporated (US)
- Finolex Cables Limited (India)
- Molex, LLC (US)
- OFS Fitel, LLC (US)
- Optical Cable Corporation (OCC) (US)
- Prysmian Group (Italy)
- Sterlite Technologies Limited (India)
- Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC) (China)
Recent Developments
- In May 2022, MiniXtend HD cables for 12 to 72 fibers and MiniXtend XD cables for 192 and 288 fibres are the latest additions to Corning Incorporated's (US) MiniXtend cable lineup. The recently introduced MiniXtend HD and MiniXtend XD cables offer decreased carbon footprint, high density, and duct space efficiency.
- In October 2021, Prysmian Group (Italy) and Openreach have renewed their partnership agreement for an additional three years. To help Openreach achieve its updated Full Fibre broadband rollout plan and help the UK government reach its goal of providing gigabit-capable broadband to 85% of the country by 2025, Prysmian Group will contribute innovation and expertise.
- In November 2021, New ITU-T G.654.E terrestrial ultra-low-loss optical fibers and cables are available from Sumitomo Electric Industries, Ltd. (Japan) in its PureAdvance series. Ultra-low-loss optical fibers and cables, the new products, are appropriate for broadband applications.
Optical Fiber Key Market Trends
- Meeting Bandwidth Demands: The requirement for fiber optic connections has significantly expanded due to the growth of fiber-rich infrastructure. Technological innovations and enhancements have resulted from the ongoing advancements in the telecommunications business. Broadband-intensive communication is being made possible by several advances made in the telecom sector. The increasing bandwidth requirements in carrier and enterprise networks can be attributed to the growing demand for fiber optic cables. As technology progresses in the telecom industry, broadband network topologies are being deployed at an exponentially increasing rate.
- High Speed Internet Growth: The growing need for broadband network infrastructures and high-speed wired internet are driving the need for fiber optic cables. Specialized programmes like media, gaming, and video require a highly fast internet connection to run properly, hence they use more bandwidth. Consumers all throughout the world are lured to devices that allow for high data usage as the increased interest in entertainment and communication needs. Due to this, the fiber optics market is expected to increase rapidly during the projected period.
Optical Fiber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, Due in large part to the development of wireless devices, the global digital revolution has witnessed a significant growth in internet users, which has resulted in the widespread adoption of social media, online entertainment, VoIP, and mobile payments. The amount of traffic for data services, video streaming, online gaming, and other internet-related activities has increased significantly due to this surge in internet usage. Additionally, wired networks like fronthaul and backhaul are crucial to the growth of mobile communications. The need for multimedia is driving significant data generation, which in turn is supporting the growth of the fiber optics market through the deployment of additional cables and subsystems.
Many organizations place a high priority on product innovation, strategic collaborations, and the development of new offers to maintain their market positions amid the growing demand for high-speed data transfer solutions. The industry's focus on cooperation and developments in fiber optic technology to meet the demands of mobile networks, broadband subscribers, and the IT and data communications sectors is highlighted by Amphenol Corporation's recent acquisition of Halo Technology Limited. Concurrently, the global fiber optics market is expanding due to the spike in demand for broadband network infrastructures and high-speed wired internet, which is being driven by the need for specialized applications like media, gaming, and video.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.76 billion |
| Market size value in 2031 | USD 14.94 billion |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Optical Fiber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Optical Fiber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Optical Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Optical Fiber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Optical Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Optical Fiber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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