The global optical fiber market size was USD 4.8 Bn in 2022 and is anticipated to reach USD 8.3 Bn by 2031, expanding at a CAGR of 10.8% during 2023–2031. Increasing number of data center facilities globally and the high demand for bandwidth are projected to fuel the market during the forecast period.
An optical fiber is a flexible and transparent fiber manufactured from plastic or glass. It is commonly used to transmit light and has wide usage in fiber-optic communications. In fiber optic communications, optical fibers allow transmission over long distances and at high bandwidths. Optical fiber is highly preferable in long-distance communication and is used to transmit data over long distances.
Optical fiber has applications in endoscopy, biomedical research, and microscopy. It is used in pressure and position sensing, remote spectrophotometry, or scintillation counting. Furthermore, it is used in vivo oximeters and intravascular pressure transducers. It helps to view organs by inserting the cable into the body. Optical fibers are thicker than a human hair. They are able to transmit data at a rapid speed over long distances than other technologies.
The research report finds that the COVID-19 pandemic is negatively affected the supply-chain for components and raw materials. However, some of the manufacturers were able to operate their production at a limited capacity during the pandemic. For instance, Sterlite Technologies Limited, a company based in India resumed its production activities at a 65% capacity of its comprehensive operations in April 2020. This company resumed its business in India, Italy, and China.
Optical Fiber Market Dynamics
Major Drivers
Rising internet penetration and data traffic is expected to boost the market during the forecast period. The demand for communication having high bandwidth fuels the market. Optical fiber systems are used data, images, and voice to a distance ranging from a few meters to numerous kilometers easily.
Existing Restraints
Increasing adoption of wireless communication systems as compared to wired systems is projected to hinder the market in the coming years. In terms of wireless communication, the data is transmitted from one point to another with the help of the microwave radio spectrum. Wireless communication is considered an alternate solution to fiber optics.
Emerging Opportunities
Growing deployment of 5G communication networks is expected to create lucrative opportunities for market players. In March 2022, as per the Ministry of Industry and Information Technology (MIIT) based in China, the telecom service providers deployed approximately 1.425 million 5G base stations in the country. 5G infrastructure is usually dependent on the adoption of optical fibers.
Scope of the Optical Fiber Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Optical Fiber Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Plastic Optical Fiber and Glass Optical Fiber), Mode (Single-mode and Multi-mode), and Industry Vertical (Public Sector, Healthcare, Energy & Utilities, Telecom & IT, Aerospace & Defense, Manufacturing, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Furukawa Electric Co. Ltd; The Prysmian Group; Finisar Corporation; Sumitomo Electric Industries Ltd; Nexans S.A.; Reflex Photonics; TATA Communications; Fujikura Ltd; Corning Inc; and Sterlite Technologies Ltd
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Market Segment Insights
On the basis of type, the optical fiber market is segmented into plastic optical fiber and glass optical fiber. The glass optical fiber segment is projected to expand at a considerable CAGR during the forecast period. Glass optical fibers are attached to some photoelectric sensors and allow more light rays into the system. These optical fibers have a larger numerical aperture than plastic. The plastic optical fiber segment is anticipated to account for a major share of the market during the forecast period. It is widely used in medical applications, in-vehicle lighting applications, decoration applications, and various sensor and communication applications.
Based on mode, the market is divided into single-mode and multi-mode. The single-mode segment is expected to hold a significant share of the market in the coming years, as it provides several advantages that include substantial data-transmitting capabilities and high dispersion and attenuation. It has a smaller core of around 9 µm in diameter than multimode fiber optic cable with a core diameter of 50 µm. Single-mode signals carry signals at a considerable speed and over long distances. The demand for high-bandwidth and long-distance requirements is high.
On the basis of industry vertical, the global market is segregated into public sector, healthcare, energy & utilities, telecom & IT, aerospace & defense, manufacturing, and others. The telecom & IT segment is anticipated to expand at a substantial CAGR during the forecast period, owing to the rising adoption of fiber optics in the sector. It is used for content delivery networks, entertainment, point-to-point communication, and news & infotainment. The healthcare segment is expected to hold a significant share of the market, due to the rising need for significant speed and bandwidth connections.
In terms of region, the global optical fiber market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the forecast period, owing to the rising penetration of optical fiber technologies in emerging countries. The market in North America is anticipated to expand at a rapid pace during the forecast period, due to the growing demand for data transmission and high-speed internet.
Segments
The global optical fiber market has been segmented on the basis of
Type
- Plastic Optical Fiber
- Glass Optical Fiber
Mode
Industry Vertical
- Public Sector
- Healthcare
- Energy & Utilities
- Telecom & IT
- Aerospace & Defense
- Manufacturing
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players in the global optical fiber market are Furukawa Electric Co. Ltd; The Prysmian Group; Finisar Corporation; Sumitomo Electric Industries Ltd; Nexans S.A.; Reflex Photonics; TATA Communications; Fujikura Ltd; Corning Inc; and Sterlite Technologies Ltd.
In May 2022, Corning Incorporated, a US-based global leading innovator, announced the development of its MiniXtend cable portfolio. It introduced MiniXtend XD cables for 192 and 288 fibers and MiniXtend HD cables for 12 to 72 fibers. The MiniXtend XD and MiniXtend HD cables offer duct space efficiency, high density, and reduced carbon footprint.
In November 2021, Sumitomo Electric Industries, Ltd., a Japan-based a fiber optic manufacturing company, launched ITU-T G.654.E terrestrial ultra-low-loss optical fibers and cables under its PureAdvance series. These products have ultra-low-loss optical fibers and cables that are favorable for broadband applications.
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