GVR Report cover Fiber Optics Market Size, Share & Trends Report

Fiber Optics Market Size, Share & Trends Analysis Report By Type (Single Mode, Multi-mode, Plastic Optical Fiber (POF)), By Application (Telecom, Medical, Oil & Gas), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-860-2
  • Number of Pages: 100
  • Format: Electronic (PDF)

Report Overview

The global fiber optics market size was valued at USD 8.76 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030. Fiber optics technology is modern-day innovation that has evolved owing to rigorous studies conducted by researchers and scientists worldwide through extensive R&D. Several connector manufacturers are expanding their product lines to connect fiber optic channels that are highly protected and precisely aligned. For instance, in July 2020, Amphenol Corporation, a manufacturer of electronic connectors based in the U.S., improved its Amphe-Lite connector series to satisfy the growing demand for fiber optic connection applications in the oil and gas, medical, and power transmission industries.

Asia Pacific fiber optics market size and growth rate, 2023 - 2030

The combined efforts of businesses to innovate fiber networks to reduce operations and maintenance (O&M) and optical distribution network (ODN) construction and costs will have a significant impact on the market during the projected period. Moreover,increased government initiatives for fiber optic cable deployment is contributed to market growth.

For instance, in July 2022, the Government of India announced a merger of Bharat Sanchar Nigam Ltd, a telecommunications company, and Bharat Broadband Network Ltd, a broadband company to construct the country’s largest optic fiber cable (OFC) network. Through this merger, BSNL will gain complete control of BBNL's 5.67 lakh km of optical fiber spread across the country.

The growing adoption of fiber optic cables under the sea contributed to the growth of the market due to increased utilization of deployed fiber, improved network capacity, and enhancement in spectral efficiency. Moreover, the major benefit of fiber optic cables under the sea is that large amounts of data are transmitted rapidly and evolve to enable the development of new technologies.

For instance, in August 2020, the Indian government launched a submarine optical fiber cable connecting the Andaman and Nicobar Islands to the mainland, to provide cheaper and better telecom connectivity to the Union Territory. This initiative will facilitate Andaman and Nicobar Islands in improving online education, telemedicine, banking, online trading, and tourism.

A few major applications of fiber optic technology across the healthcare & medical industry include ophthalmic lasers, X-ray imaging, laboratory & clinical diagnostics, surgical endoscopy & microscopy, surgical instrumentation, and light therapy. The demand for fiber optic technology in the medical industry can be attributed to the growing demand for minimally invasive surgeries, preferred by patients.

Patients are also demanding advanced medical treatments, which is paving the way for advanced and skilled medical practices. Increasing application of fiber optics technology in the healthcare sector propels the market’s growth.

Type Insights

The multi-mode fiber optic segment held the largest revenue share of 53.6% in 2022 due to its low cost and widespread use in illumination and surgical lighting in the healthcare sector. Moreover, the multi-mode fiber optic is used in medical instruments and diagnostics, operating rooms, telemedicine, and medical imaging to achieve higher quality, efficiency, and resolution.

The multi-mode segment also provides a solution for communication, lighting, and sensing requirements in automotive applications. Moreover, the multi-mode segment is increasingly being used as the communication medium of choice for mission-critical applications due to its high bandwidth, and low cost.

Revenue from the signal segment in the fiber optics industry is expected to grow during the forecast period. The increased demand for long-distance transmission applications is responsible for the rising demand for the single-mode fiber optics segment. Single-mode fibers are frequently used by telecom companies for high-bandwidth and long-distance requirements.

Plastic optic fiber (POF) is expected to grow rapidly during the forecast period due to the rising population, changing lifestyles, increased disposable income, and its robustness under bending and stretching. The core materials used in POF cable construction differentiate it from its single and multimode counterparts.

Application Insights

The telecom segment dominated the market, with a revenue share of 41.7% in 2022. The growth prospects for fiber optics technology in the telecom segment appear promising, owing to the technology's increasing adoption in communication and data transmission services.

Fiber optics enables high-speed data transfer services in short and long-distance communications. The growing popularity of cloud-based applications, Video-on-Demand (VoD) services, and audio-video services drive up demand for fiber optic installations. Moreover, optical communications enabled the construction of telecommunications links over much greater distances and with much lower levels of transmission medium loss.

Global  fiber optics market share and size, 2022

The medical segment is expected to grow rapidly, owing to the rising adoption of optic technology devices in these markets. Stringent regulations enforced by the medical associations and government regulating authorities are further assisting the fiber optics industry to flourish in the medical sector, ultimately driving the global market to grow at a significant pace over the estimated time.

The railway track maintenance achieved by fiber optics enables enhanced track repair with ease and at a much cheaper cost, which is attributed to the growth of the Railway segment. Military and aerospace markets are moderately penetrated and it is expected to grow rapidly in the future, with their market share witnessing a rise during the forecast period.

Regional Insights

Asia Pacific region dominated the global market at a revenue share of 28.8% in 2022. Increased technological advancements, widespread adoption in the IT & telecommunications, administrative sectors, and development of fiber-integrated infrastructure are attributed to the growth.

In 2022, the U.S. will have around 91.9 million km of fiber optic cable laid throughout the country. Rising demand for the Internet of Things (IoT) and connected devices along with growing deployment of broadband network platforms including Fiber to the Premise, Fiber to the Building, Fiber to the Home, and Fiber to the Cabinet also drives fiber optics' positive growth in this region.

Moreover, the growing demand for connected wearables, smartphones, and tablets in North America has significantly increased the demand for fiber optic networks, which drives the demand for fiber optic cables.

Fiber Optics Market Trends by Region, 2023 - 2030

The high penetration rate of the expanding IT & telecommunications sector manufacturing sector across the Asia Pacific region is strengthening the market's hold in this region. Moreover, the growing use of fiber optics in the medical sector is catapulting growth in countries such as Japan, China, and India, propelling overall market growth rapidly.

Governments in developed countries such as the U.S., the U.K., Germany, China, Japan, and others are making significant investments in improving national security infrastructures. Rapidly developing economies seeking to strengthen their control on the international scene and this leads to increased funding for technologies, particularly fiber optics.

One of the primary drivers for the growth in demand for dark fiber in New Zealand is the rising investments in FTTx infrastructure. High-speed services are delivered to residential, commercial, and industrial premises using optical fiber cables rather than coaxial cables, telephone, or cable wires.

Key Companies & Market Share Insights

The market is characterized by strong competition, with a few major worldwide competitors owning a significant market share. The major focus is on developing new products and collaboration among the key players. For instance, in December 2021, Amphenol Corporation, a U.S.-based Electronic connector manufacturing company, announced the acquisition of Halo Technology Limited, a manufacturer of fiber optic interconnects devices, for approximately $715 million. The initiative aims to enhance Amphenol Corporation's fiber optic offering to IT and data communications, mobile networks, and broadband customers by using Halos's high-technology products. Some prominent players in the global fiber optics market include:

  • AFL

  • Birla Furukawa Fiber Optics Limited

  • Corning Incorporated

  • Finolex Cables Limited

  • Molex, LLC

  • OFS Fitel, LLC

  • Optical Cable Corporation (OCC)

  • Prysmian Group

  • Sterlite Technologies Limited

  • Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC)

Fiber Optics Market Report Scope

Report Attribute


Market size value in 2023 

USD 9.39 billion

Revenue forecast in 2030 

USD 14.93 billion

Growth rate 

CAGR 6.9% of from 2023 to 2030

Base year for estimation 


Historical data 

2017 - 2021

Forecast period 

2023 - 2030

Quantitative units

Revenue in USD million & CAGR from 2023 to 2030 

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends 

Segments covered

Type, application, region 

Regional scope

North America; Europe; Asia Pacific; South America; MEA 

Country scope

U.S.; Canada; Mexico; UK; Germany; France; China; India; Japan; Brazil

Key companies profiled

AFL; Birla Furukawa Fiber Optics Limited; Corning Incorporated; Finolex Cables Limited; OFS Fitel, LLC; Optical Cable Corporation (OCC); Prysmian Group; Sterlite Technologies Limited; Yangtze Optical Fiber; Cable Joint Stock Limited Company(YOFC)

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope. 

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Fiber Optics Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global fiber optics market report based on type, application, and region:

Global Fiber Optics Market Report Segmentation

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Single mode

    • Multi-mode

    • Plastic Optical Fiber (POF)

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Telecom

    • Oil & Gas

    • Military & Aerospace

    • BFSI

    • Medical

    • Railway

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • South America

      • Brazil

    • Middle East and Africa

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