Fiber Optics Market Size was valued at USD 8.1 billion in 2023. The Fiber Optics market industry is projected to grow from USD 8.4 billion in 2024 to USD 15.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2024 - 2032). Increasing demand in the FTTX and telecommunications industries, as well as technological improvements, are primarily responsible for the market's increased growth.
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.
May 2023- University of Maryland researchers have successfully tested an optical fiber consisting of thin air that operates constantly. The most typical optical fibers are lengthy glass strands that closely restrict light across great distances. However, due to glass breakage and laser energy dispersion out of the fiber, these fibers are not suitable for directing extremely high-power laser beams. Furthermore, long before light signal transmission or gathering, glass fiber must be put down due to the requirement for the physical support structure. Using auxiliary ultrashort laser pulses to carve fiber optic waveguides in the air itself, Howard Milchberg and his team at the University of Maryland's Departments of Physics, Electrical & Computer Engineering, & Institute for Research in Electronics and Applied Physics in fact have established an optical guiding technique that overcomes both restrictions.
It is precisely the refractive index structure of an optical fiber. These brief pulses create a ring of higher-intensity light structures known as "filaments," that heat the air molecules for producing an expanded ring of low-density heated air around a centre undisturbed zone. Extremely high average powers may be steered using air itself as the fiber. Additionally, the air waveguide may be arbitrarily "unspooled" & pointed in any direction at the speed of light enabling the gathering of distant optical signals, such as those needed for the detection of radioactive sources and contaminants. Using this method, air waveguides up to 50 meters long may be created. These waveguides can last for about tens of milliseconds before being cooled by the surrounding air and dissipating. Long-distance continuous guiding should be possible with the right laser system for creating the waveguide; if this is accomplished, it will only be a matter of time until they are beaming high power constant laser beams as well as detecting pollution from miles away.
April 2023- By the fiscal year 2025, the NHAI intends to build an integrated network of about 10,000 km of optic fiber cables (OFC) infrastructure throughout India. NHLML, a special-purpose company owned by NHAI, will carry out the project's implementation. NHLML will build utility corridors beside national roads to enhance the OFC infrastructure. The OFC network would enable internet connection in India's rural areas and speed up the country's migration to cutting-edge 5G and 6G technology. The Delhi-Mumbai Motorway and the Hyderabad-Bangalore corridor have already been recognized by NHAI as potential pilot routes for the construction of digital highways.
The construction of the OFC infrastructure is now under progress, and it will be finished in a year. Eligible users will be able to lease the OFC network on open-for-all, fixed-rate basis via a web portal. In collaboration with the Department of Telecommunications (DoT) and the TRAI, a formal OFC allotment policy is being established. It is anticipated that the creation of digital highways within India will hasten the country's digital transition and catalyze its expansion and development.
According to news agency PTI, the OFC network would provide 'fiber-on-demand' or straight plug-and-play models for telecom and internet services. It will be leased out to qualified customers with the help a web portal on an "open for all" basis at a set price allocation process. The Department of Telecommunications and industry regulator Trai have been consulted during the finalization of the OFC allotment policy, according to PTI. In addition to being a catalyst for the nation's growth and development, the establishments of “digital highways” will also further its digital transformation. The country will be better prepared for a digital future thanks to the OFC infrastructure, which will increase connection in isolated and rural regions, allow for the adoption of cutting-edge technology, and improve connectivity there.
Yangtze Optical Fiber and Cable Joint Stock Limited recently announced new variants of optical cables, high-density data center solutions, and simplified F.ODN pre-connected solutions during SCTE CABLE-TEC EXPO 2023. Its new dry all-dielectric fiber optic cable has a small diameter, reduced weight, and can be spliced without gel-filled compounds. It is specifically designed for fast and easy installations.
Windstream has extended its partnership with Coherent Corp. to enable 400G services and also enable 100G services at the edge of the network, leveraging the industry’s first 100G QSFP28 transceiver with 0 dBm digital coherent optics (DCO).
Sterlite Technologies Limited (STL) announced that it had created the world’s slimmest fiber optic at 160 microns, known as Communication Fiber Optics (CFO). The origin of this innovation is rooted in the STL’s Center of Excellence in Maharashtra. Thus making them the pioneers in developing this technology and protecting it globally through patents.
On this account, Coherent Corp disclosed that they had launched their first pump laser module with an output power of 1200 mW in a ten-pin butterfly package, and since then, they have become the first company among those that are engaged in manufacturing integrated circuits worldwide.
In January 2023, OFS introduced DirectLase Premium Yb-doped optical fiber for directed energy fiber laser systems as its latest invention.
AFL- Multi-fiber Optic Connector Inspection System - FOCIS Lightning2 simplifies connection assessment (AFL—Fiber Optic Cleaning Supplier). Businesses, including data center providers and service providers, can quickly validate existing fiber interconnects using FOCIS Lightning2, thereby simplifying and accelerating the inspection of individual fiber connectors.
Corning Inc., a longtime partner with AT&T, increased its production capacity for optical cables once again when the carrier expanded its coverage area over a large part of rural Georgia.
The US-based firm Allegiant Stadium increased its copper cabling by 1.5 million feet, while fiber optic cables were extended by 227 miles in the facility. Increased bandwidth capacity is expected with the newly installed optical fibers.
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
July 2023- The expansion of Socket's fiber optic internet service for residences in western Boone County was announced on Tuesday. Tuesday saw a ribbon-cutting event at Socket's Columbia headquarters. The company's funding from the American Rescue Plan Act Broadband Infrastructure Grant made the expansion possible. According to a news release from Socket, president and chief operating officer Carson Coffman, the company is dedicated to its commitment in building vital internet infrastructure within Boone County. Customers will be able to access dependable, quick internet through their fiber network, enabling them to effectively work, attend school, and even schedule telemedicine visits with physicians.
June 2023- As the first Indian state to do so, Kerala's government has established a novel ISP (Internet service provider) called K-FON, short for "Kerala Fiber Optic Network," to increase its citizens' access to the internet. K-FON was created by the government to close the digital gap by "liberating the people from corporate-run telecom service providers like Airtel, BSNL, Jio, and Hathway's exploitation."It is said that K-FON provides comparable high speed and quality to other service providers at more cheap prices. The cheapest package, with a speed of 20 Mbps, will cost Rs 299 (without the GST) each month.
March 2023- Today, Metronet said that development on their multi-gigabit fiber optic network in Portage had officially started. Residents and companies in the entire city will have access to Metronet's 100% fiber optic internet thanks to the multimillion dollar expenditure that is wholly sponsored by Metronet. As the Certified Gigabit City after construction is finished, Portage will become one of the nation's top internet cities. In order to offer a cutting-edge, fiber-optic internet network with multiple gigabit speeds to the homes & businesses in Portage, Metronet is starting to build the necessary infrastructure, according to Ben Ruzick, Metronet Government Affairs Director. The neighborhood will benefit from seamless access to meet their various online demands thanks to the quick deployment of ultra-high-speed internet.
May 2022 - Prysmian Group, an energy and telecom cable systems company, has announced a partnership with Telstra to build a new sophisticated inter-capital fibre network in Australia. The national fibre network project is a multi-year programme in which Telstra will build a new "state-of-the-art inter-city dual fibre line" with up to 20,000 route kilometers of new fibre optic terrestrial cable, improving inter-capital capacity as well as regional capacity.
June 2022 - Prysmian Group is investing USD 30 million in its Jackson, Tennessee, factory to increase optical fibre capacity and expand its telecom network in order to better meet client demand.
March 2022 - Sumitomo Electric Industries, Ltd. has introduced its new Z2C optical fibre fusion splicer, which incorporates its unique "NanoTuneTM" AI (artificial intelligence) programmed fusion technology as well as a revamped design with a better environmental resistant spring.
| Report 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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