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Fiber Optics Market Size, Growth, Trends, Forecast 2021 to 2030

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The global fiber optics market value reach 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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Report Coverage

Report Scope Details
Market Size US$ 10.8 bn by 2030
Growth Rate CAGR of 5.2% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Cable Type, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned 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).

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

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

By 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

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