Optical Fiber Market Growth Opportunities & Forecast [2031]

Segments - Optical Fiber Market by Type (Plastic Optical Fiber and Glass Optical Fiber), Mode (Single-mode and Multi-mode), Industry Vertical (Public Sector, Healthcare, Energy & Utilities, Telecom & IT, Aerospace & Defense, Manufacturing, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

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.

Attributes	Details
Report Title	Optical Fiber Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	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)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report	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

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

Single-mode
Multi-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

Furukawa Electric Co. Ltd
The Prysmian Group
Finisar Corporation
Sumitomo Electric Industries Ltd
Nexans S.A.
Reflex Photonics
TATA Communications
Fujikura Ltd
Corning Inc
Sterlite Technologies Ltd

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.

Global Optical Fiber Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Optical Fiber Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Optical Fiber Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Optical Fiber Market - Supply Chain
  4.5. Global Optical Fiber Market Forecast
     4.5.1. Optical Fiber Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Optical Fiber Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Optical Fiber Market Absolute $ Opportunity
5. Global Optical Fiber Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Optical Fiber Market Size and Volume Forecast by Types
     5.3.1. Plastic Optical Fiber
     5.3.2. Glass Optical Fiber
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Optical Fiber Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Optical Fiber Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Optical Fiber Demand Share Forecast, 2019-2026
7. North America Optical Fiber Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Optical Fiber Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Optical Fiber Market Size and Volume Forecast by Types
     7.4.1. Plastic Optical Fiber
     7.4.2. Glass Optical Fiber
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Optical Fiber Demand Share Forecast, 2019-2026
8. Latin America Optical Fiber Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Optical Fiber Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Optical Fiber Market Size and Volume Forecast by Types
     8.4.1. Plastic Optical Fiber
     8.4.2. Glass Optical Fiber
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Optical Fiber Demand Share Forecast, 2019-2026
9. Europe Optical Fiber Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Optical Fiber Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Optical Fiber Market Size and Volume Forecast by Types
     9.4.1. Plastic Optical Fiber
     9.4.2. Glass Optical Fiber
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Optical Fiber Demand Share Forecast, 2019-2026
10. Asia Pacific Optical Fiber Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Optical Fiber Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Optical Fiber Market Size and Volume Forecast by Types
     10.4.1. Plastic Optical Fiber
     10.4.2. Glass Optical Fiber
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Optical Fiber Demand Share Forecast, 2019-2026
11. Middle East & Africa Optical Fiber Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Optical Fiber Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Optical Fiber Market Size and Volume Forecast by Types
     11.4.1. Plastic Optical Fiber
     11.4.2. Glass Optical Fiber
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Optical Fiber Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Optical Fiber Market: Market Share Analysis
  12.2. Optical Fiber Distributors and Customers
  12.3. Optical Fiber Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Furukawa Electric Co. Ltd
     12.4.2. The Prysmian Group
     12.4.3. Finisar Corporation
     12.4.4. Sumitomo Electric Industries Ltd
     12.4.5. Nexans S.A.
     12.4.6. Reflex Photonics
     12.4.7. TATA Communications
     12.4.8. Fujikura Ltd
     12.4.9. Corning Inc
     12.4.10. Sterlite Technologies Ltd