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Fiber Optics Market Size Expected to Hit Around US$ 10.8 Billion by 2030

The global fiber optics market value reached at USD 7.1 billion in 2020 and projected to exhibit a CAGR of 5.2% from 2021 to 2030. The global fiber optics market size is expected to hit around US$ 10.8 billion by 2030, according to new report study.

An optical fiber is a transparent and flexible fiber made by drawing glass or plastic, which is used to transmit light. It is a cylindrical dielectric waveguide that transmits light along its axis, by the process of total internal reflection. Fiber optics include a transparent core surrounded by a transparent cladding material with a lower index of refraction, through which the light travels by total internal reflection. This phenomenon causes the fiber to act as a waveguide. The optical fiber has wide usages in fiber-optic communications, where they allow transmission over longer distances and at higher bandwidths than wire cables. The adoption of fiber optic cables to send signals with less amount of loss has increased over the period, which drives the growth of the market.

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Some specific fibers are also used for various other operations, which are known as fiber lasers and fiber optic sensors. Fibers that are designed to support multiple propagation parts or transverse modes are called multi-mode fibers. While those which support an only single mode are known as single mode fiber.

Major factors driving the growth of the fiber optics market are:

– The demand for the internet across the globe, coupled with the rising need for FTTx, is the major factor driving.

– Widespread implementation of 5G, increase in adoption of fiber to the home (FTTH) connectivity, and the emergence of the internet of things (IoT) act as major drivers of the market.

– Growing demand for Internet bandwidth due to increased use of various bandwidth-intensive consumer services, such as video on demand, music streaming and video conferencing is expected to drive fiber optics market growth


The demand for more data and better coverage across the world is on the rise among consumers and is expected to drive the growth of fiber optics market size. The 5th generation wireless connection is predicted to be the next technological leap forward since it will be able to send more data while maintaining a more stable and reliable connection. Heavy-duty fiber optics networks, which affect both the wireless and wireline sides of the infrastructure, have a significant impact on the characteristics of 5G, such as high data speeds and throughputs.

An increase in the adoption of fiber to the home (FTTH) connectivity is expected to increase the growth of the fiber optics market size. FTTH (fiber-to-the-home) is a popular integrated communication technology that uses fiber optics to provide quicker and more effective communication. Optical fiber wires connect households to the operator in this technique. It is the most advanced technology available for constructing the next generation of communication networks.

The increasing use of fiber optics in the medical industry is expected to drive the growth of the fiber optics market size. Fiber’s physical properties make it a natural choice for a wide range of applications. Fiber optics are an extremely compact, flexible conduit for light or data transfer in equipment, surgical, and instrumentation applications. They are commonly used for lighting, flexible image bundles, light conductors, flexible light guides, laser delivery systems, and equipment interconnects.

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Market Challenges

Fiber Optics Market Challenges most basic challenge faced by the fiber-optic cable manufacturers is the introduction of wireless technology to exploit the internet. The advancement in technologies has optimized the speed and features in the wireless technology. A significant market shift is visible towards the wireless systems as wireless local area network (WLAN) has become the most favorable choice of accessing the Internet in domestic as well as commercial sectors.

Research Scope: 

The base year of the study is 2021, with forecast done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the fiber optics market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of fiber optics market, and their specific applications in different types of vehicles.

Product Type Insights

In 2020, the multimode segment led the fiber optics market in terms of revenue and was valued at USD 3.6 billion. The multimode and single product type segments are expected to witness continuity in growth and lead the market over the forecast period.

The single-mode segment is anticipated to witness considerable growth over the projected period. This product type is used for long-distance installations ranging from 2 meters to 10,000 meters. It offers lower power loss in comparison to its multimode and plastic optic counterparts. However, it is costlier than multimode and plastic optical fibers.

Plastic Optic Fiber (POF) is anticipated to witness high growth over the forecast period. POF differs from its single and multimode counterparts based on the core materials used in POF cable construction. While single and multimode fiber optics have a glass core, POF cables have a polymer core. This offers a dynamic application portfolio, along with cost-saving.

Application Insights

In 2020, telecom accounted for the largest market share in terms of revenue and is anticipated to continue its dominance in terms of size by 2030. Telecommunication is anticipated to present promising growth prospects due to the growing adoption of technology in communication and data transmission services. Fiber optics enable high-speed data transfer services in both small and long-range communications. Furthermore, increasing cloud-based applications, audio-video services, and Video-on-Demand (VoD) services stimulate demand.

Medical and military and aerospace application segments are poised to witness significant growth, attributed to increasing adoption of optic technology devices. Stringent regulations and standards imposed by the regulatory authorities and medical associations are further helping the market to flourish in the medical sector, eventually driving the growth.

Railway segment would be initially hesitant to make huge investments in fiber optic application installations but is predicted to witness immense growth prospects during the forecast period. The railway track maintenance achieved by fiber optics provides an opportunity to experience enhanced track repair with great ease at a cheaper price. Military and aerospace sector has moderate penetration. However, it is expected to witness high growth soon in terms of market share.

APAC is expected to account for the largest share of the fiber optics market during the forecast period.

The APAC fiber optics market is projected to be the largest during the forecast period. The growing industrialization and infrastructural development in the region have offered enormous opportunities for the use of fiber optics across various applications in APAC. The major fiber optics markets in APAC are China, Japan, India, Australia, and South Korea. China is the major hub for manufacturing activities, globally, and is also one of the largest in terms of number of internet users.

In addition, China is the most populous country in the world, which has resulted in the growth of applications, such as telecom, premises, utility, CATV, and industrial. Moreover, countries including India and South Korea are also witnessing significant growth rates on account of the growing industrial activities in the region.

In 2020, North America led with a 29.9% market share in terms of revenue. Asia Pacific is spearheading revenue growth owing to technological advancements and large-scale adoption of the technology in IT and telecommunication and administrative sector. The regional growth can be attributed to increasing application areas.

Key Players

Key market players include Corning Incorporated, Optical Cable Corporation (OCC), Sterlite Technologies Limited, OFS Fitel, LLC, Prysmian Group, AFL, Birla Furukawa Fiber Optics Limited, Finolex Cables Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC).

Market Segmentation

By Product Type

  • Multimode
  • Single Mode
  • Plastic Optical Fiber

Based on Cable Type:

  • Single-mode
  • Multi-mode

By Application

  • Military & Aerospace
    • Weapon System
    • Secure Communication
    • Surveillance System
    • UAV
    • Optical Computing
    • Military Vehicle Sensing
  • Oil & Gas
    • High Bandwidth Communications
    • Material Sensing
    • Others
  • BFSI
  • Railway
    • Speed Monitoring
    • Railway Maintenance
    • Dynamic Load Calculation
  • Telecom
  • Medical
    • Minimal Invasive Surgery
    • Biomedical Sensing
    • Imaging
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Highlights following key factors:

– Business description – A detailed description of the company’s operations and business divisions.

– Corporate strategy – Analyst’s summarization of the company’s business strategy.

– SWOT Analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats.

– Company history – Progression of key events associated with the company.

– Major products and services – A list of major products, services and brands of the company.

– Key competitors – A list of key competitors to the company.

– Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company.

– Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 5 years history.

Our report offers:

– Market share assessments for the regional and country level segments.

– Market share analysis of the top industry players.

– Strategic recommendations for the new entrants.

– Market forecasts for a minimum of 10 years of all the mentioned segments, sub segments and the regional markets.

– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).

– Strategic recommendations in key business segments based on the market estimations.

– Competitive landscaping mapping the key common trends.

– Company profiling with detailed strategies, financials, and recent developments.

– Supply chain trends mapping the latest technological advancements.

Buy this premium research report, click [email protected] OR Call: +1 9197 992 333 

The post Fiber Optics Market Size Expected to Hit Around US$ 10.8 Billion by 2030 appeared first on Flair Insight.

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