Fiber Optics Market - By Fiber Type (Glass Fibers, Plastic Optical Fibers), By Cable Type (Single-mode, Multi-Mode), By Deployment (Underground, Aerial, Underwater) By End User & Forecast, 2024 – 2032

Fiber Optics Market Size

Fiber Optics Market was valued at USD 8.1 billion in 2023 and is anticipated to grow at a CAGR of over 5% between 2024 and 2032. The demand for high-speed broadband access is accelerating with end-users increasingly seeking high-quality multi-gigabit services to power their homes and businesses. From Metaverse and cloud gaming to cyber security, and Industry 4.0 applications, users want multi-gigabit services that can meet their evolving broadband needs.
 

For instance, in March 2024, Nokia announced the launch of a new, symmetrical 25G PON fiber modem. Further accelerating 25G PON deployments, the compact solution can easily be installed on a wall, inside a building, or in an outdoor enclosure to immediately deliver internet speeds that are 20 times faster than current gigabit solutions. Once deployed, operators can leverage their existing fiber network to offer new premium residential, business, or any haul services that unlock additional revenue streams.

There is a significant surge in Fiber-To-The-Home (FTTH) deployment and adoption across the world, significantly outpacing traditional copper broadband in terms of speed and efficiency. This remarkable growth is observed across urban areas as well as rural regions. This wide FTTH implementation is fostering new opportunities in the education, healthcare, and business sectors, contributing to local economies, and enhancing the quality of life.

Critical terrains often lack existing infrastructure and become difficult to access by conventional means. The implementation of this technology across mountains, deserts, and dense forests poses challenges in terms of equipment transportation, personnel access, and construction activities. It requires specialized vehicles, equipment, and experts in remote operations. It also necessitates careful planning, coordination, and collaboration among stakeholders including government agencies, telecommunication companies, engineering firms, environmental organizations, and local communities.
 

Fiber Optics Market Trends

The adoption of optical fiber sensors across diverse industries and applications is driven by technological advancements, growing demand for real-time monitoring, detection, and control, and the need for innovative solutions to address complex sensing challenges. For instance, in June 2021, NEC Corporation launched the NEC Intelligent Optical Fiber Sensing Solution, which allows communications service providers (CSP) and optical fiber owners from around the world to utilize optical fiber as a sensor. It enables users to sense existing optical fibers that are conventionally used for communications. This solution contributes to infrastructure maintenance by using AI to analyze vibrations detected with optical fibers, thereby enabling the detection of abnormalities, such as fiber damage, and preventing future damage.
 

With the introduction of 5G services, the increasing use of diverse internet content, and the rise of remote work, the demand for info-communication traffic continues to increase around the world. As a result, the need for high-performance optical fibers capable of transmitting large-capacity optical signals over a long distance efficiently has been increasing. For instance, in November 2021, Sumitomo Electric Industries, Ltd. established PureAdvance, compliant with the international standard ITU-T G.654.E. It is an optical fiber that enables low transmission loss by using pure silica for the core through which optical signals propagate into the optical fiber.
 

Fiber Optics Market Analysis

Based on fiber type, the market is segmented into glass fibers and plastic optical fibers (POF). In 2023, the glass fibers segment dominated the market with a share of over 70%.
 

• The rollout of 5G networks requires robust and high-capacity communication infrastructure. Glass fiber optics support the backhaul and fronthaul connections of 5G networks, enabling high-speed data transmission with low latency. The demand for glass fiber optics is expected to rise further as 5G deployments expand globally. The Ongoing advancements in specialty glass materials are driving innovation in glass fiber optics. Manufacturers are developing new types of glass with tailored properties such as increased transmission efficiency, enhanced durability, and improved resistance to environmental factors. These advancements are expanding the range of applications for glass fiber optics in various industries.
   

Based on end user, the market is divided into telecommunication, power utilities, aerospace & defense, data center, and others. The data center segment is anticipated to reach over USD 3 billion by 2032.
 

• Data center solutions in the fiber optics market are driven by the need for high-speed connectivity, scalability, agility, and security to support the growing demands of modern data center environments. For instance, in October 2023, Yangtze Optical Fiber and Cable Joint Stock Limited announced new optical cable variants, high-density data center solutions, and streamlined F.ODN pre-connected solutions at SCTE CABLE-TEC EXPO 2023. The all-dry fiber optic cable features a compact diameter, reduced weight, and splice-ready design without filling compounds. It is optimized for swift, hassle-free deployment.
   

Asia Pacific fiber optics market is poised to sustain a robust CAGR exceeding 10% from 2024 to 2032. The region is characterized by rapid urbanization and population growth, particularly in China, India, and other Southeast Asian countries. Urbanization drives the demand for high-speed internet access, digital services, and connectivity solutions, leading to increased investments in fiber optics infrastructure to support the fronthaul and backhaul network requirements for the 5G deployment. This is resulting in a significant surge in the demand for fiber optics infrastructure.
 

Fiber Optics Market Share

Corning Incorporated and STL Tech hold a significant share of over 15%. Corning Incorporated is a global technology company known for its innovations in specialty glass, ceramics, and related materials. In the context of the fiber optics industry, Corning has been a major player and a leading provider of optical communication solutions.
 

STL (Sterlite Technologies Limited) is a leading global provider of solutions and products for the telecommunications industry, including fiber optic cables, network infrastructure, and software solutions. STL is renowned for its expertise in fiber optic technology. The company manufactures a wide range of optical fibers, cables, and connectivity solutions catering to various applications, including long-haul networks, metropolitan area networks (MANs), and last-mile connectivity.
 

Fiber Optics Market Companies

Major players operating in the fiber optics industry are:

• STL Tech
• TE Connectivity
• Corning Incorporated
• Newport Corporation
• Broadcom
• Commscope
• Fiberoptics Technology Incorporated
   

Fiber Optics Industry News

• In October 2023, Sterlite Technologies Ltd (STL) developed a 160-micron optical fiber, the world’s slimmest fiber for telecommunication. STL’s 160-micron fiber can offer three times more capacity than traditional 250-micron fiber. It is expected to revolutionize deployment, bandwidth capacity, and green quotient of the networks.
   
• In January 2023, SICK AG launched its next-generation intelligent and powerful WLL80 Fiber Optic Sensors, designed for easy configuration and highly versatile integration into machinery and conveyor systems wherever rapid, high-accuracy detection is required in confined spaces. The SICK WLL80 fiber optic amplifiers can be combined with SICK’s new LLX portfolio of state-of-the-art fibers. Any length of flexible LLX fibers up to 20m can be specified alongside a versatile range of sensor heads.
   

The fiber optics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Fiber Type

• Glass fibers
• Plastic optical fibers

Market, By Cable Type

• Single-mode
• Multi-mode

Market, By Deployment

• Underground
• Aerial
• Underwater

Market, By End User

• Telecommunication
• Power utilities
• Aerospace & defense
• Data center
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA