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    Fiber Optic Market Research Report - Global Forecast 2032 Infographic

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    Fiber Optic Market

    ID: MRFR/SEM/0663-HCR
    100 Pages
    Aarti Dhapte
    September 2025

    Fiber Optics Market Research Report Information By Fiber Type (Glass and Plastic), Cable Type (Single-Mode and Multi-Mode), Industry Vertical (Telecom, Oil & Gas, BFSI, Medical, Railway, and Others), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Industry Size, Share and Trends till 2032

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    Summary Table of Contents Segmentation Infographic

    Fiber Optic Market Summary

    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 Market Trends & Highlights

    Key trends driving the Fiber Optics Market include advancements in technology and increased applications across various sectors.

    • The glass fiber segment is expected to dominate the market due to its higher numerical aperture.
    • Multi-mode fiber optics accounted for 59.1% of revenue share in 2022, primarily used in healthcare applications.
    • Telecom sector leads the market, driven by high-speed data transport needs.
    • Asia Pacific holds the largest market share, fueled by rising demand for IoT and broadband networks.

    Market Size & Forecast

    2023 Market Size USD 8.1 Billion
    2024 Market Size USD 8.4 Billion
    2032 Market Size USD 15.3 Billion
    CAGR (2024-2032) 6.90%

    Major Players

    Key companies include Optical Cable Corporation, Sterlite Technologies, Fujikura Limited, Finolex Cable Limited, OFS Fitel LLC, Prysmian Spa, Infinera Corporation, and others.

    Fiber Optic Market Trends

      • The emergence of IoT and Cloud Computing to Drive Market

    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.

    Market Segment Insights

    Fiber Optics Fiber Type Insights

    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.

    Fiber Optics Cable Type Insights

    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.

    FIGURE 2: FIBER OPTICS MARKET SHARE BY CABLE TYPE 2021 (%)

    FIBER OPTICS MARKET SHARE BY CABLE TYPE 2021

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Fiber Optics Industry Vertical Insights

    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.

    Regional Insights

    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.

    FIGURE 3: FIBER OPTICS MARKET SHARE BY REGION 2021 (%)

    FIBER OPTICS MARKET SHARE BY REGION 2021

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Key Players and Competitive Insights

    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.

    Industry Developments

    • Q2 2024: Corning to invest $500 million in new optical fiber manufacturing facility in Poland Corning announced a $500 million investment to build a new optical fiber manufacturing facility in Poland, aiming to meet growing demand for fiber optic cables in Europe. The facility is expected to create hundreds of jobs and expand Corning’s production capacity.
    • Q2 2024: Prysmian Group to Acquire Encore Wire for $4.2 Billion to Expand North American Fiber Optic Business Prysmian Group agreed to acquire Encore Wire for $4.2 billion, strengthening its position in the North American fiber optic and cable market. The deal is expected to close in the second half of 2024, pending regulatory approval.
    • Q3 2024: Nokia and Openreach sign multi-year fiber optic partnership to accelerate UK broadband rollout Nokia and Openreach entered a multi-year partnership to supply advanced fiber optic solutions for the UK’s broadband infrastructure, supporting Openreach’s goal to connect 25 million homes and businesses by the end of 2026.
    • Q2 2024: Furukawa Electric Launches New Ultra-Low Loss Optical Fiber for Data Centers Furukawa Electric introduced a new ultra-low loss optical fiber product designed for hyperscale data centers, offering improved transmission performance and energy efficiency for high-capacity networks.
    • Q1 2024: Lumen Technologies Wins $1 Billion U.S. Government Contract for Fiber Optic Network Expansion Lumen Technologies secured a $1 billion contract from a U.S. federal agency to expand and upgrade its nationwide fiber optic network, enhancing secure communications for government operations.
    • Q2 2024: Sumitomo Electric Industries Opens New Fiber Optic Cable Plant in Vietnam Sumitomo Electric Industries inaugurated a new fiber optic cable manufacturing plant in Vietnam to address rising demand in Southeast Asia and support regional digital infrastructure projects.
    • Q3 2024: Adtran Appoints New CEO to Drive Fiber Optic Growth Strategy Adtran announced the appointment of a new CEO, effective September 2024, to lead the company’s fiber optic business expansion and accelerate innovation in broadband solutions.
    • Q2 2024: Sterlite Technologies Raises $150 Million in Green Bond Offering to Fund Fiber Optic Projects Sterlite Technologies completed a $150 million green bond issuance to finance sustainable fiber optic network projects in India and other emerging markets.
    • Q1 2024: OFS Launches New Bend-Insensitive Fiber Optic Cable for 5G Networks OFS introduced a new bend-insensitive fiber optic cable specifically designed for 5G network deployments, enabling easier installation in dense urban environments.
    • Q2 2024: YOFC and China Mobile Sign Strategic Agreement for 5G Fiber Optic Deployment Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC) signed a strategic agreement with China Mobile to supply fiber optic cables for nationwide 5G infrastructure expansion.
    • Q3 2024: Hexatronic Group Acquires U.S.-Based Blue Diamond Industries to Expand Fiber Optic Portfolio Hexatronic Group completed the acquisition of Blue Diamond Industries, a U.S. manufacturer of fiber optic conduit solutions, strengthening its presence in the North American broadband market.
    • Q2 2024: CommScope Unveils Next-Generation Fiber Optic Connector for High-Density Data Centers CommScope launched a new high-density fiber optic connector designed to improve scalability and performance in large-scale data center environments.

    Market Segmentation

    Fiber Optics Regional Outlook

    • 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

    Fiber Optics Cable Type Outlook

    • Single-Mode
    • Multi-Mode

    Fiber Optics Fiber Type Outlook

    • Glass
    • Plastic

    Fiber Optics Industry Vertical Outlook

    • Telecom
    • Oil & Gas
    • Tunnel
    • Medical
    • Railway
    • Others

    Report Scope

    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

    Market Highlights

    Author
    Aarti Dhapte
    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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    FAQs

    How much is the Fiber Optics market?

    The global fiber optic market was valued at USD 8.1 Billion in 2023

    What is the market size for 2032, for the Fiber Optics market?

    Fiber Optics market is projected to reach at USD 15.3 Billion in 2032

    What is the growth rate of the Fiber Optics market?

    Fiber Optics market Size is predicted to hit at a 6.90% of CAGR

    Which region held the largest market share in the Fiber Optics market?

    Asia-Pacific is expected to hold the highest market share in the global Fiber Optics market.

    Who are the prominent players in the 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.

    Fiber Optic Market Research Report - Global Forecast 2032 Infographic
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