Global Fiber Optic Market

Fiber Optic Market Size, Share, Growth Analysis, By Component(hardware, software, and services), By Application(telecommunication, smart cities, power utilities, aerospace and defense), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45O2030 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 67 |Figures: 65

Fiber Optic Market Insights

Fiber Optic Market size is estimated to be USD 4.9 billion in 2019 and is expected to reach USD 8.2 billion by 2031, at a CAGR of 10.9% during the forecast period (2024-2031).

The widespread use of optical fiber has resulted from the growing demand for a communication infrastructure network that is scalable, fast, and reliable. It transmits significantly more data than copper cables of the same diameter and is ten times faster than standard cables.

For instance, AT&T Fiber and Verizon Fios' deployments of Fiber to the Home (FTTH) enable seamless delivery of 4K videos and extremely fast file uploads. In order to cut down on the costs associated with the construction, operations, and maintenance (O&M) of the optical distribution network (ODN), the businesses are constantly working to develop novel fiber networks.

The Internet of Things (IoT) and 5G, among other emerging technologies, are anticipated to be driven by these efforts and features like optical fiber's high bandwidth connectivity.

Fiber connectivity is anticipated to play a significant role in network infrastructure, despite the fact that 5G is more focused on wireless connections. The capacity to handle the enormous amount of backhaul traffic generated by 5G can be met by fiber connectivity.

US Fiber Optic Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

Largest Segment

Services

Fastest Growth

Services

Growth Rate

10.9% CAGR

Global Fiber Optic Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Fiber Optic Market Segmental Analysis

The global Fiber Optic Market is segmented on the basis of Component, Application, and Region. Whereas, By Component, it is sub segmented into hardware, software, and services. By Application, it is sub segmented into telecommunication, smart cities, power utilities, aerospace and defense, industrial automation and control, renewable energy, and others. By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.

Fiber Optic Market Analysis by Component

The services segment is expected to grow at the fastest rate during the forecast period, while the hardware segment currently holds the largest market share. Cables, connectors, and adapters, among other hardware components, offer increased bandwidth and can transmit data over greater distances. Additionally, these parts are much less susceptible to electromagnetic interference.

Because of these characteristics, fiber connectivity is ideal for data networking and telecommunications over long distances with high performance. In order to comprehend and accurately measure the performance of fiber infrastructures, technicians, installers, project managers, contractors, and engineers carry out the fiber testing services.

Fiber Optic Market Analysis by Application

Based on the application, telecommunication is expected to dominate the market during the forecast period. In the not-too-distant future, the smart cities segment is anticipated to exhibit the highest CAGR. It is anticipated that fiber technology will have a significant impact on the expansion of the global telecommunications sector. Optical fiber's high bandwidth and low attenuation properties make it ideal for gigabit transmission in telecommunications infrastructure. In addition, the fiber connectivity is utilized as wiring in submarines, aircraft, automobiles, and a variety of industrial settings for SONAR and seismic waves. In a similar vein, large corporations and financial institutions have begun utilizing fiber connections to secure their systems due to the significant advantages provided by optical fiber's security features. Data communication and analysis in the environment of smart cities are made possible by infrastructure and technologies that are interconnected. In smart cities, the use of fiber provides the network and communications infrastructure for the massive data transfer to cloud-based systems.

Global Fiber Optic Market By Component, 2023 (%)

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Fiber Optic Market Regional Insights

Asia Pacific captures the highest share, whereas Europe is projected to be the fastest-growing region during the forecast period. China has had the highest demand for optical fiber cables in recent years. Fiber has been installed in almost every telecom application in China, including intercity, intracity, and mobile cellular systems. The electric power grid, pipelines, highways, railways, airports, and data centers are just some of the applications for which the Chinese government and businesses are embracing fiber optic systems. In addition, China and other Asian nations are anticipated to see an increase in fiber demand in the coming years as a result of the development of 5G.

In North America, the need for a higher capacity network has encouraged companies to opt for optical fiber networks for both fixed telephony and mobile services. Fiber has been installed in approximately 41 million homes in the United States and connects 18.6 million homes, The demand for this technology has increased in Europe as the demand for high bandwidth for data and communication services has increased. The FTTH Council Europe is constantly working to make fiber-based high-speed networks more accessible to consumers and businesses.

In the coming years, significant expansion is anticipated in Latin America and the Middle East and Africa. Telecom providers in Latin America are leading the way in establishing a development path for full-fiber networks.The major operators are rushing to accelerate their full-fiber strategies and increase their FTTH investment.

Global Fiber Optic Market By Region, 2024-2031
  • Largest
  • Fastest

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Fiber Optic Market Dynamics

Fiber Optic Market Drivers

Demand for High Speed Internet across the Globe to Bolster Market Growth

  • In the context of smart cities, technologies that are interconnected and related play a significant role in transferring, capturing, and transforming data into information that is meaningful for the purpose of building and strengthening urban infrastructure. Through communications infrastructure, massive amounts of data can be transferred from one end to the other with the assistance of high-speed fiber connectivity. It has a significant impact on autonomous drones for land surveying, surveillance systems for the prevention of crime, traffic management systems for the prevention of accidents or congestion, and smart buildings for the support of sustainable living.
  • The need for connections with more bandwidth and faster speeds has increased in the fast-paced business world. Fiber-optic internet connections are replacing conventional copper or wire internet cables in order to meet these requirements. Larger businesses are increasing the amount of business communications by incorporating optical fiber components into their voice over IP (VoIP) telephony.Additionally, the organization's incorporation of fiber connectivity encourages a lightning-fast internet connection in the workplace.
  • Businesses can access cloud-based services and CRM tools with minimal or no delays thanks to the high internet connection provided by finer connectivity. Fiber cables, in contrast to copper wires, are not affected by harsh weather.Additionally, it prevents unplanned downtimes that could cost users money and time.In addition to a robust internet connection, optical fiber provides increased bandwidth, enabling businesses to stream high-definition training videos, hold web conferences, and share files without experiencing delays.As a result, business internet access via fiber connectivity is a relatively new tool that is rapidly gaining traction in the industry.

Fiber Optic Market Restraints

High Setup Cost and Stringent Regulations to Hinder Market Growth

  • For service providers, implementing fiber connectivity comes at a very high cost. As a result, the majority of businesses favor traditional infrastructures like coaxial cables and digital subscriber lines (DSL).
  • Countries, on the other hand, can't install their fiber because of complicated laws that put them in competition with private businesses. According to Broadband Now, even though fiber is regarded as the fastest home internet option in the United States, its availability is still limited.

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Fiber Optic Market Competitive Landscape

By developing innovative, one-of-a-kind solutions and engaging in activities of collaboration and partnership, the major players in the market are concentrating on expanding their customer base. These players' primary objective is to provide individualized, cost-effective solutions that adhere to stringent requirements because the need varies from business to business. Many businesses have experienced higher returns on their investments in fiber, despite the fact that it is a more recent technology than the conventional one. Businesses are most likely to invest in fiber technology due to its dependability and speed of transfer.

Fiber Optic Market Top Players Company Profiles

  • Finisar Corporation Fujitsu Optical Components Ltd.
  • Furukawa Electric Hamamatsu Photonics K.K.
  • Hengtong Huawei Technologies Co., Ltd.
  • HUBER+SUHNER AG Jiangsu Fasten Company Ltd.
  • Lumentum Operations LLC Optiwave Systems, Inc.
  • TongDing, Group Co., Ltd.
  • ZTT International Limited

Fiber Optic Market Recent Developments

  • In May 2022, Corning Incorporated (US) announced the expansion of its MiniXtend cable portfolio, with the introduction of MiniXtend HD cables for 12 to 72 fibers and MiniXtend XD cables for 192 and 288 fibers. The new MiniXtend HD cables and MiniXtend XD cables deliver high density, duct space efficiency, and reduced carbon footprint.
  • In November 2021, Sumitomo Electric Industries, Ltd. (Japan) launched new ITU-T G.654.E terrestrial ultra-low-loss optical fibers and cables through its PureAdvance series. The new products, i.e., ultra-low-loss optical fibers and cables are suitable for broadband applications.
  • In October 2021, Prysmian Group (Italy) extended its partnership contract with Openreach for three more years. Prysmian Group will provide innovation and expertise to support Openreach’s updated Full Fiber broadband build plan, which will be fundamental to the UK Government achieving its target of delivering ‘gigabit-capable broadband’ to 85% of the UK by 2025.

Fiber Optic Key Market Trends

  • Workplaces and commercial office buildings need more bandwidth and better connectivity as a result of IoT and cloud computing. Because it offers a secure and dependable connection between IoT devices, fiber optics are regarded as the ideal solution. In such locations, optical fiber components may be the most effective means of data transmission and management. For instance, optical fiber aids in the sensing and monitoring of large amounts of data in the oil and gas industry, such as asset locations, temperature, and oil reserve levels, among other applications. Because the data is transmitted through the fiber in the form of a light beam, it takes the place of bulky equipment, frees up space, lightens the material's weight, and saves money on logistics. Product automation, enhanced security parameters, and simplified data transmission are the outcomes of this.

Fiber Optic Market SkyQuest Analysis

Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, Asia Pacific captures the highest share, whereas Europe is projected to be the fastest-growing region during the forecast period. Based on the Component, Optical fiber cables, connectors, adapters, attenuators, modules/enclosures, and others are further subdivided into the hardware segment.

Report Metric Details
Market size value in 2023
Market size value in 2031 USD 8.2 billion
Growth Rate 10.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • hardware, software, and services
  • Application
    • telecommunication, smart cities, power utilities, aerospace and defense, industrial automation and control, renewable energy, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Finisar Corporation Fujitsu Optical Components Ltd.
  • Furukawa Electric Hamamatsu Photonics K.K.
  • Hengtong Huawei Technologies Co., Ltd.
  • HUBER+SUHNER AG Jiangsu Fasten Company Ltd.
  • Lumentum Operations LLC Optiwave Systems, Inc.
  • TongDing, Group Co., Ltd.
  • ZTT International Limited
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Fiber Optic Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Fiber Optic Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Fiber Optic Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fiber Optic Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fiber Optic Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Fiber Optic Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Fiber Optic Market size is estimated to be USD 4.9 billion in 2019 and is expected to reach USD 8.2 billion by 2031, at a CAGR of 10.9% during the forecast period (2024-2031).

By developing innovative, one-of-a-kind solutions and engaging in activities of collaboration and partnership, the major players in the market are concentrating on expanding their customer base. These players' primary objective is to provide individualized, cost-effective solutions that adhere to stringent requirements because the need varies from business to business. Many businesses have experienced higher returns on their investments in fiber, despite the fact that it is a more recent technology than the conventional one. Businesses are most likely to invest in fiber technology due to its dependability and speed of transfer. 'ADVA Optical Networking Broadcom, Inc.', 'Ciena Corporation Cisco Systems, Inc.', 'CommScope Corning, Inc.', 'Finisar Corporation Fujitsu Optical Components Ltd.', 'Furukawa Electric Hamamatsu Photonics K.K.', 'Hengtong Huawei Technologies Co., Ltd.', 'HUBER+SUHNER AG Jiangsu Fasten Company Ltd.', 'Lumentum Operations LLC Optiwave Systems, Inc.', 'TongDing, Group Co., Ltd.', 'ZTT International Limited'

In the context of smart cities, technologies that are interconnected and related play a significant role in transferring, capturing, and transforming data into information that is meaningful for the purpose of building and strengthening urban infrastructure. Through communications infrastructure, massive amounts of data can be transferred from one end to the other with the assistance of high-speed fiber connectivity. It has a significant impact on autonomous drones for land surveying, surveillance systems for the prevention of crime, traffic management systems for the prevention of accidents or congestion, and smart buildings for the support of sustainable living.

Workplaces and commercial office buildings need more bandwidth and better connectivity as a result of IoT and cloud computing. Because it offers a secure and dependable connection between IoT devices, fiber optics are regarded as the ideal solution. In such locations, optical fiber components may be the most effective means of data transmission and management. For instance, optical fiber aids in the sensing and monitoring of large amounts of data in the oil and gas industry, such as asset locations, temperature, and oil reserve levels, among other applications. Because the data is transmitted through the fiber in the form of a light beam, it takes the place of bulky equipment, frees up space, lightens the material's weight, and saves money on logistics. Product automation, enhanced security parameters, and simplified data transmission are the outcomes of this.

Asia Pacific captures the highest share, whereas Europe is projected to be the fastest-growing region during the forecast period. China has had the highest demand for optical fiber cables in recent years. Fiber has been installed in almost every telecom application in China, including intercity, intracity, and mobile cellular systems. The electric power grid, pipelines, highways, railways, airports, and data centers are just some of the applications for which the Chinese government and businesses are embracing fiber optic systems. In addition, China and other Asian nations are anticipated to see an increase in fiber demand in the coming years as a result of the development of 5G.

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Global Fiber Optic Market

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