Global Optical Fibre Market Report and Forecast 2024-2032

Global Optical Fibre Market Outlook

The global optical fibre market attained a value of nearly USD 11.26 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 15.5% to reach approximately USD 40.94 billion by 2032.

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Rising Demand for Faster Internet Connectivity Boosting the Growth of the Optical Fibre Industry

Optical fibres ease the communication and transmission of data, due to which they are extensively used in various applications, such as telecommunication, broadband, and data networking. Moreover, they are cost-effective and are the most secure option for the transmission of sensitive data. The rising demand for secure and fast internet connection in both the domestic and industrial sectors is augmenting the market growth. The surging internet penetration and smartphone ownership are increasing data traffic, consequently increasing the use of optical fibre with infinite bandwidth, hence catalysing the market growth. Moreover, the rising popularity of submarine infrastructure is leading to the growing use of cost-effective and durable optical fibres, therefore fuelling the market growth.

The introduction of favourable government policies in various developing countries is invigorating the market growth. Governments of various countries are rolling out optical fibres to promote digitisation and provide internet connectivity to people in remote areas. For instance, the Indian government plans to connect each village through optical fibres within three years to promote digitisation. Further, the German government is rolling 60,000 kilometres of optical fibre cable for superfast internet. Such initiatives are increasing the demand for optical fibre cable, therefore boosting the market growth. Moreover, the rising developments in telecommunication in the Middle East and Africa and the surging demand for high connectivity internet in the region are further propelling the market growth.

Optical Fibre: Market Segmentation

Optical fibre is a fibre that is made of silica or plastic that is used to transmit light between the two ends of fibre. It uses the internal reflection of light and consumes less power than traditional fibres. Moreover, it posits several other benefits, including reliability, great bandwidth, faster speed, and cost-effectiveness, due to which it is widely used instead of copper fibre.

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The major fibre types of optical fibre are:

• Glass
• Plastics

The market can be broadly categorised on the basis of its cable types into:

• Single Mode
• Multi Mode

Based on the applications, the industry is divided into:

• Telecom
• Oil and Gas
• Military and Aerospace
• Medical
• BFSI
• Others

The EMR report looks into the regional markets of optical fibre like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Technological Advancements Such as 5G Network and Internet of Things (IoT) to Bolster the Market for Optical Fibre

The indispensable demand for optical fibres in the 5G network is aiding the market growth. 5G, which is crucial in future technology, can provide enhanced mobile networks and ultra-reliable low-latency communications, which uses fibre optics to transmit signals. This is expected to aid the market growth. Technological advancements and innovations, along with the rising demand for faster and more efficient networks, are leading to the development of superior optical fibres. Latest communication trends such as all-optical networks, which allow data transmission without electric procession resulting in farther transmission distance, are expected to bolster the market growth. Moreover, the development of advanced technologies such as orbital angular momentum (OAM), which has the potential to increase transmission speed by 100 times, is also anticipated to provide further impetus to the market growth.

The Internet of things (IoT) is being increasingly used in Industry 4.0 and major industrial applications. This, in turn, is increasing the demand for optical fibre cables to simplify data traction, reduce the cost of logistics, and enhance the security parameter, which is further augmenting the market growth. Additionally, the development of smart cities is becoming more prominent in both developed and developing countries owing to increasing investments. Optical fibres are crucial in various smart city applications, such as smart grid, smart sensor, and smart health, to provide ultra-broadband and low latency communication, hence invigorating the market growth.

Key Industry Players in the Global Optical Fibre Market

The report presents a detailed analysis of the following key players in the global optical fibre market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Corning Incorporated
• Prysmian Group
• Sumitomo Electric Industries, Ltd.
• General Cable Technologies Corporation
• Fujikura Ltd.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report