Fiber Optics Market Size, Share and Growth Analysis By Product Type (Multimode, Single Mode, and Plastic Optical Fiber), By Application (Military & Aerospace, Oil & Gas, BFSI, Railway, Telecom, Medical, and Others) - Global Industry Analysis, Trends, Regional Outlook and Forecast 2022 - 2030

The global Fiber Optics market gathered revenue around USD 7.4 billion in 2021 and market is set to grow USD 11.1 billion by the end of 2030 and is estimated to expand at a modest CAGR of 4.6% during the prediction period 2022 to 2030.

Growth Factors:

 A fiber optic is a flexible, transparent fiber made of extruded glass (silica) or plastic which can function as a waveguide, or “light pipe,” to transmit light between the two ends of the fiber. 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 demand for internet across the globe, coupled with the rising need for FTTx, is the major factor driving the growth of the fiber optics industry. On the other hand, growing wireless communication systems are restraining the market growth.

Report Scope of the Fiber Optics Market

Report Highlights	Details
Market Size	USD 11.1 Billion by 2030
Growth Rate	CAGR of 4.6% from 2021 to 2030
Largest Market	Asia Pacific
Fastest Growing Market	North America
Base Year	2021
Forecast Period	2021 to 2030
Segments Covered	Product Type, Application Type, Region Type
Companies Mentioned	Optical Cable Corporation (OCC), Corning Incorporated, OFS Fitel, LLC, Sterlite Technologies Limited, AFL, Prysmian Group, Finolex Cables Limited, Birla Furukawa Fiber Optics Limited

 

Product Type Insights

In 2019, the global fiber optics market was dominated by the multimode segment with nearly half of the market revenue share and expected to retain the leading position over the forecast period. Single mode and multimode segments exhibit moderate growth over the analysis period. Single mode fiber optics is used for long distance applications ranging from 2 to 10,000 meters. It also offers low power loss as compared to its counterpart’s i.e. multimode and plastic optical fiber.

Plastic optical fiber encountered the highest growth opportunity over the analysis period owing to its dynamic applications and cost saving feature. The plastic optical fiber have core made from polymer while single and multimode fibers have code made from glass, this attributes for the overall cost reduction of the product type.

Application Insights

Telecommunication sector accounted for the largest revenue share in the global fiber optics market and projected to retain its position over the forecast period. In addition, the segment offers promising growth aspects in the years to come owing to increasing adoption of fiber optics in data transmission services and communication. The technology enables high speed transfer of information in both long and short range communications. Furthermore, increasing demand for Video-on-Demand service, cloud-based applications, and audio-video services stimulates the market growth of fiber optics in telecom sector.

Besides this, military & aerospace and medical sectors poised to grow at the rapid pace attributed to the increasing application of optic technology devices. Furthermore, increasing terrorist activities is appealing defense services and government authorities of various countries to take firm steps to curb down these occurrences. For the same, defense sector has adopted advanced technologies such as wearable devices, body cams, and other responders that keep the military person connected irrespective of their location. Need of high speed internet for supporting the growth of Internet of Everything (IoE) to maintain high-level security in the nation is the other major factor that drives the demand for fiber optics.

Regional Insights

Asia Pacific spearheaded the global fiber optics market in terms of revenue in the year 2019 owing to increasing adoption of fiber optics in IT and telecom sector. In addition, the region exhibits lucrative growth opportunity by maintaining its dominant market position in the coming years. The region offers high growth prospects for the new technologies, thereby drives the fiber optics demand. Increasing infrastructural development and industrialization have offered enormous growth opportunities for the deployment of fiber optic cables across several applications in the region. Recently, World Bank has estimated that the Asia Pacific require toinvest USD 1.7 trillion per year from 2016 to 2030 in infrastructure development to maintain its economic growth. In the wake of same, private money has poured significantly in past few years. For instance, in July 2018, United States announced to invest USD 113 million on the infrastructure projects in Asia Pacific.

Some of the prominent players in the Fiber Optics Market include:

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

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Product Type

• Multimode
• Single Mode
• Plastic Optical Fiber

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 Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Fiber Optics Market Study:

• Growth of Fiber Optics in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Fiber Optics and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Fiber Optics Consumption Analysis
•  Fiber Optics Production Analysis
•  Fiber Optics and Management