Global Fiber Optics Market Report and Forecast 2024-2032

Global Fiber Optics Market Outlook

The global fiber optics market size attained a value of USD 8.82 billion in 2023. The market is further expected to grow at a CAGR of 8.30% between 2024 and 2032, reaching a value of USD 18.06 billion by 2032.

Key Trends in the Market

Fiber optics, also known as fibre optics, refer to a technology used to transmit information in the form of light pulses via fiber strands over long distances. This information is transmitted using a fiber optic cable which is made up of glass or plastic which are not affected by electromagnetic interference.

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• Rising applications of fiber optics across the healthcare sector, to enable repair of organs, diagnose joint problems, and to remove diseased tissues, is driving the fiber optics market growth. Increasing demand for fiber optics in endoscopes is further expanding the market for fiber optics.

• Increasing adoption of high-end electronic devices and equipment, such as LED televisions, is further expanding the market share of optical fiber in the global electrical and electronics sector. In addition, the increasing household demand for high-speed broadband services, owing to the emergence of work-from-home lifestyle, is providing impetus to the fiber optic cable market.

• Fiber optic technology is gaining traction in flight control systems, due to which the thriving aerospace and defence sector is anticipated to augment the market for fiber optics. Rising investments by emerging sovereign nations aimed towards increasing the induction of advanced fighter jets are likely to propel the demand for fiber optic technology, posing a lucrative fiber optics market opportunity.

Market Analysis

Based on mode, the market is segmented into single mode and multimode. On the basis of type, the market is classified into glass optical fiber and plastic optical fiber. By industry vertical, the market is categorised into telecom and IT, public sector, healthcare, energy and utilities, aerospace and defence, and manufacturing, among others. The regional markets for fiber optics are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global fiber optics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Corning Incorporated

• Coherent Corp.

• Prysmian S.p.A

• Sumitomo Electric Industries, Ltd

• Weinert Industries AG

• Furukawa Electric Co., Ltd.

• Sterlite Technologies Limited

• Yangtze Optical Fiber and Cable Joint Stock Limited Company

• Hengtong Group Co.,Ltd.

• Nexans SA

• Others

Global Fiber Optics Market Share by Type

The glass optical fiber segment, based on type, accounts for a healthy share of the market for fiber optics. Glass optical fibers support higher capacity of information transmission compared to plastic optical fibers, with low loss in the process. The glass optical fibers are ideal in corrosive or wet environments or low temperatures, have an excellent numerical aperture, and can transmit wide spectrum ranging from UV, visible, or even infrared light. Meanwhile, plastic optical fibers are anticipated to witness a decent growth in the forecast period, driven by their ability to withstand unstable environments. In addition, the lightweight nature of plastic optical fibers is a major advantage fuelling their adoption in modern electrical systems.

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Global Fiber Optics Market Share by Industry Vertical

Based on industry vertical, the telecom and IT segment accounts for a significant share of the market for fiber optics. Fiber optics are widely used in the telecom and IT sector to transmit telephone signals, set-up internet communication networks, and to facilitate the management of television cable signals. In addition, the transition from traditional metallic cables towards fiber optics in the telecom and IT sector has made possible some critical developments and advancements in technology. Moreover, fiber optics enable the construction of telecommunication networks over longer distances along with lower loss of transmission medium, which is further bolstering the growth of this segment.

Competitive Landscape

Corning Incorporated is a leading multinational technology company which manufactures glass, ceramics, and related materials for use in industrial and scientific applications. It was founded in 1851 and is headquartered in New York, United States.

Coherent Corp. is a global leader specialising in materials, networking, and lasers, catering to the demands of various sectors such as industrial, communication, electronic, and instrumentation, among others. The company was established in 1971 and is headquartered in Pennsylvania, United States.

Prysmian S.p.A is a leading manufacturing company which develops, designs, produces, distributes, and installs energy and telecommunication cables, with products such as asset monitoring system, network components, and optical fibers. Founded in 1879, Prysmian is based in Milan, Italy.

Other market players include Sumitomo Electric Industries, Ltd, Weinert Industries AG, Furukawa Electric Co., Ltd., Sterlite Technologies Limited, Yangtze Optical Fiber and Cable Joint Stock Limited Company, Hengtong Group Co.,Ltd., and Nexans SA, among others.

Key Highlights of the Report