The fiber optics market size is expected to reach USD 15.63 billion by 2032, according to a new study by Polaris Market Research. The report "Fiber Optics Market Size, Share, Trends, Industry Analysis Report: By Fiber Type (Plastic and Glass), Cable Type, Deployment, Application, and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa)-Market Forecast, 2024-2032." gives a detailed insight into current market dynamics and provides analysis on future market growth.
The fiber optics market is experiencing significant growth, mainly attributed to the ongoing progress in the telecommunications sector that leads to technological enhancements. The increasing need for fiber optic cables can be attributed to the growing bandwidth requirements in carrier and enterprise networks.
Broadband network configurations such as fiber to the home (FTTH), fiber to the building (FTTB), fiber to the cabinet (FTTC), and fiber to the premise (FTTP) are popular network structures that require the installation of fiber optic networks, leading to a surge in demand for fiber optic cables. For instance, in April 2024, Tigo Tanzania introduced fiber-to-the-home (FTTH) and fiber-to-the-office (FTTO) services, delivering dependable and high-speed connectivity in Africa.
Further, the advantages offered by fiber optic cables, such as cost-effectiveness, high data-carrying capacities at increased speeds, compatibility with digital data transmission, low power needs, flexibility, and longevity, are driving the transition from copper cables to optical fibers. Additionally, the risk of signal degradation in fiber optic cables is almost non-existent, making the technology highly adaptable and widely adopted.
In recent years, the extensive adoption of fiber optic cables in undersea settings has significantly contributed to market growth, driven by the increased utilization of deployed fiber, enhanced network capacity, and improved spectral efficiency.
The undersea fiber optic cable rapidly transmits large amounts of data, facilitating the development of new technologies in sectors such as online education, telemedicine, banking, online trading, and tourism.
For instance, in August 2020, the Indian government initiated a project to install a submarine optical fiber cable to link the Andaman and Nicobar Islands with the mainland. This project aimed to enhance telecommunications connectivity in the Union Territory, offering more affordable and improved services in sectors such as online education, telemedicine, banking, online trading, and tourism.
Fiber Optics Market Report Highlights
By deployment analysis, the aerial segment dominated the market in 2023. This is due to the increased adoption of fiber-to-the-home (FTTH) services, which has led to a rise in aerial fiber installations.
Based on fiber type, the multi-mode segment accounted for the largest market share in 2023. This is due to its affordability and extensive applications in the healthcare sector, such as surgical procedures, medical equipment, operating rooms, telemedicine, and medical imaging, to enhance quality, effectiveness, and clarity.
North America is expected to register the fastest CAGR from 2024 to 2032 owing to the increased need for high-speed internet and data transmission.
Asia Pacific dominated the market in 2023 due to technological advancements, widespread adoption in IT & telecommunications and administrative sectors, and the development of fiber-integrated infrastructure.
The key market players include AFL; Birla Furukawa Fiber Optics Limited; Corning Incorporated; Finolex Cables Limited; Molex, LLC; OFS Fitel, LLC; Optical Cable Corporation (OCC); Prysmian Group; Sterlite Technologies Limited; and Sumitomo Electric Industries, Ltd.
Polaris Market Research has segmented the fiber optics market report based on fiber type, cable type, deployment, application, and region:
By Type Outlook (Revenue - USD Billion, 2019-2032)
Plastic
Glass
By Cable Type Outlook (Revenue - USD Billion, 2019-2032)
Multi-mode
Single-mode
By Deployment Outlook (Revenue - USD Billion, 2019-2032)
Underwater
Aerial
Underground
By Application Outlook (Revenue - USD Billion, 2019-2032)
Medical
Railway
Oil & Gas
Telecom
Military & Aerospace
BFSI
Others
By Regional Outlook (Revenue - USD Billion, 2019-2032)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Australia
Vietnam
Malaysia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of the Middle East & Africa
Table of Contents
1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Fiber Optics Market Insights
4.1. Fiber Optics Market - Market Snapshot
4.2. Fiber Optics Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising Adoption of the Smart Fiber Sensing Solution
4.2.1.2. Increasing Deployment of 5G is Driving the Market Growth
4.2.2. Restraints and Challenges
4.2.2.1. Increasing Adoption of Wireless Communication Systems
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Fiber Optics Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Fiber Optics Market, by Fiber Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Fiber Optics billion Market, by Fiber Type, 2019-2032 (USD billion)
5.3. Plastic
5.3.1. Global Fiber Optics Market, by Plastic, by Region, 2019-2032 (USD billion)
5.4. Glass
5.4.1. Global Fiber Optics Market, by Glass, by Region, 2019-2032 (USD billion)
6. Global Fiber Optics Market, by Cable Type
6.1. Key Findings
6.2. Introduction
6.2.1. Global Fiber Optics Market, by Cable Type, 2019-2032 (USD billion)
6.3. Multi-mode
6.3.1. Global Fiber Optics Market, by Multi-mode, by Region, 2019-2032 (USD billion)
6.4. Single-mode
6.4.1. Global Fiber Optics Market, by Single-mode, by Region, 2019-2032 (USD billion)
7. Global Fiber Optics Market, by Deployment
7.1. Key Findings
7.2. Introduction
7.2.1. Global Fiber Optics Market, by Deployment, 2019-2032 (USD billion)
7.3. Underwater
7.3.1. Global Fiber Optics Market, by Underwater, by Region, 2019-2032 (USD billion)
7.4. Aerial
7.4.1. Global Fiber Optics Market, by Aerial, by Region, 2019-2032 (USD billion)
7.5. Underground
7.5.1. Global Fiber Optics Market, by Underground, by Region, 2019-2032 (USD billion)
8. Global Fiber Optics Market, by Application
8.1. Key Findings
8.2. Introduction
8.2.1. Global Fiber Optics Market, by Application, 2019-2032 (USD billion)
8.3. Medical
8.3.1. Global Fiber Optics Market, by Medical, by Region, 2019-2032 (USD billion)
8.4. Railway
8.4.1. Global Fiber Optics Market, by Railway, by Region, 2019-2032 (USD billion)
8.5. Oil & Gas
8.5.1. Global Fiber Optics Market, by Oil & Gas, by Region, 2019-2032 (USD billion)
8.6. Telecom
8.6.1. Global Fiber Optics Market, by Telecom, by Region, 2019-2032 (USD billion)
8.7. Military & Aerospace
8.7.1. Global Fiber Optics Market, by Military & Aeroscape, by Region, 2019-2032 (USD billion)
8.8. BFSI
8.8.1. Global Fiber Optics Market, by BFSI, by Region, 2019-2032 (USD billion)
8.9. Others
8.9.1. Global Fiber Optics Market, by Others, by Region, 2019-2032 (USD billion)
9. Global Fiber Optics Market, by Geography
9.1. Key Findings
9.2. Introduction
9.2.1. Fiber Optics Market Assessment, By Geography, 2019-2032 (USD billion)
9.3. Fiber Optics Market - North America
9.3.1. North America: Fiber Optics Market, by Fiber Type, 2019-2032 (USD billion)
9.3.2. North America: Fiber Optics Market, by Cable Type, 2019-2032 (USD billion)
9.3.3. North America: Fiber Optics Market, by Deployment, 2019-2032 (USD billion)
9.3.4. North America: Fiber Optics Market, by Application, 2019-2032 (USD billion)