Global Fiber Optics Market, By Cable Type [Single-mode, Multi-mode], By Optical Fiber Type [Plastics, Glass], By Application [Military & Aerospace (Weapon System, Optical Computing, Secure Communication, Military Vehicle Sensing, UAV), Telecom, Oil & Gas (Material Sensing, High Bandwidth Communications), BFSI, Railway, Medical, Imaging, Biomedical Sensing, Minimal Invasive Surgery), Others], By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Forecast & Opportunities, 2014-2027

Market Overview

Global Fiber Optics Market is expected to grow around US$ 7.1 billion by 2027 due to rising demand for internet and high bandwidth communication. Growing demand for high bandwidth communication and rising internet users is contributing to the growth of the market. With the advancement in technology, Fiber optics are adopted in a wide range of applications and sectors.

Fiber Optics are thin strands of plastics or glass arranged in bundles called optical cables used to transmit light signals for telecommunication, high-performance data networks. Optical fibers can provide long-distance data transmission compared to wired cables. 

Market Segmentation

Global Fiber Optics Market can be segmented into Cable Type, Optical Fiber Type, Application and Region. 

By Cable Type, Global Fiber Optics Market can be segmented into Single-mode and Multi-mode. The single-mode segment is expected to grow significantly during the forecasted period of 2020-27 due to its lower power loss compared to multi-mode cables.  

By Optical Fiber Type, Global Fiber Optics Market can be segmented into Plastics, Glass. The Plastic segment holds the largest market share as it offers a dynamic application and saves cost.  

By Application, Global Fiber Optics Market can be segmented into Military & Aerospace (Weapon System, Optical Computing, Secure Communication, Military Vehicle Sensing, UAV), Telecom, Oil & Gas (Material Sensing, High Bandwidth Communications), BFSI, Railway, Medical (Imaging, Biomedical Sensing, Minimal Invasive Surgery), Others. The Telecom segment accounts for the largest market share and it is expected to remain in dominance due to the growing adoption of advanced technologies in communication. Fiber optics offer high-speed data transfer services and technologies such as cloud technology, video-on-demand services is creating demand for the fiber optic market.   

By Region, Global Fiber Optics Market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Regional Analysis

Regionally, Asia Pacific Fiber Optics Market is expected to grow significantly during the forecasted period of 2020-27 due to growing industrialization and increasing adoption of technology in various sectors such as telecommunication and medical sector. Countries like China and Japan are investing heavily in fiber optics to enhance telecommunication and security infrastructure. 

Competitor Analysis

The key players in Global Fiber Optics Market are Corning Incorporated, Finisar, Finolex Cables Limited, Optical Cable Corporation (OCC), Sumitomo Electric Industries, Sterlite Technologies Limited, LS Cable & System, OFS Fitel, LLC, Leoni AG, Prysmian Group, General Cable Corporation, AFL, Birla Furukawa Fiber Optics Limited, and Yangtze Optical Fiber and Cable Co.