Press release
Comprehensive Fiber Optics Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Fiber Optics Market
The increasing demand for high-bandwidth communication is anticipated to fuel the growth of the fiber optics market. High-bandwidth communication allows for faster transmission of data, enabling the efficient transfer of large information volumes. Fiber optics technology provides high-bandwidth communication by transmitting data as light pulses through glass or plastic fibers, allowing for long-distance communication with minimal signal loss. For example, in July 2023, the UK Parliament's House of Commons Library reported that 72% of premises in the UK had access to gigabit-capable broadband as of January 2023, up from 64% in January 2022. This growth in high-bandwidth communication demand is driving the fiber optics market.
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What is the projected compound annual growth rate (CAGR) of the fiber optics market from 2025 to 2034, and what factors influence it?
The fiber optics market has experienced substantial growth in recent years. It will grow from $7.93 billion in 2024 to $8.68 billion in 2025 at a CAGR of 9.5%. The growth in the historical period is attributed to energy efficiency, population concentration, fiber to the home technology, internet growth, and increasing online transactions.
The fiber optics market is projected to grow to $12.32 billion by 2029 at a CAGR of 9.1%. Growth is attributed to the reduction in fiber optic component costs, use in biomedical applications, growing interest in space exploration, and remote learning. Major trends include eco-friendly technologies, expansion in electric vehicles, telemedicine, industrial automation, and fiber optics for digital twins.
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How are the latest trends influencing the growth of the fiber optics market?
Companies in the fiber optics market are developing ultra-low loss (ULL) submarine optical fibers to improve the precision and efficiency of cable installations, enhancing network performance. For instance, in October 2023, Sumitomo Electric, a Japan-based fiber optic cable manufacturer, launched the 2C Z-PLUS Fiber ULL, a dual-core fiber designed for submarine communication systems. With a transmission loss of 0.158 dB/km at 1550 nm, this fiber is ideal for transoceanic undersea systems, offering a significant performance boost and lower inter-core cross-talk for long-distance communications.
What are the major segments of the fiber optics market and their role in driving growth?
The fiber optics market covered in this report is segmented -
1) By Type: Single Mode, Multi-Mode, Plastic Optical Fiber (POF)
2) By Deployment: Underground, Underwater, Aerial
3) By Application: Communication, Non-Communication
4) By Industry Vertical: Telecom, Oil And Gas, Tunnel, Medical, Railway, Other Industry Verticals
Subsegments:
1) By Single Mode: OS1 (Optical Single-Mode 1), OS2 (Optical Single-Mode 2), G.652 Fiber, G.657 Fiber
2) By Multi-Mode: OM1 (Optical Multi-Mode 1), OM2 (Optical Multi-Mode 2), OM3 (Optical Multi-Mode 3), OM4 (Optical Multi-Mode 4), OM5 (Optical Multi-Mode 5)
3) By Plastic Optical Fiber (POF): Step-Index POF, Graded-Index POF, Perfluorinated POF
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What regions are leading the charge in the fiber optics market?
Asia-Pacific was the largest region in the fiber optics market in 2024. The regions covered in the fiber optics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the fiber optics market?
Major companies operating in the fiber optics market are 3M Company, Sumitomo Electric Industries Ltd., Prysmian S.p.A., TE Connectivity Ltd., Corning Incorporated, Molex LLC, Amphenol Corporation, Yangtze Optical Fiber and Cable Joint Stock Limited Company (YOFC), Nexans S.A., Furukawa Electric Co. Ltd., CommScope Holding Company Inc., Fujikura Ltd., FiberHome Technologies Group, RS Components Pte Ltd, Lumentum Holdings Inc., Infinera Corporation, Viavi Solutions Inc., Hirose Electric Co. Ltd., Sterlite Technologies Limited, Glenair Inc., Applied Optoelectronics Inc., EMCORE Corporation, Optical Cable Corporation, Fibertronics Inc., Ratioplast Electronics H.Wiedemann GmbH
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What Is Covered In The Fiber Optics Global Market Report?
•Market Size Forecast: Examine the fiber optics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fiber optics market for a structured understanding.
•Key Players Overview: Analyze major players in the fiber optics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fiber optics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fiber optics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fiber optics market.
•Industry Challenges: Identify potential risks and obstacles affecting the fiber optics market.
•Competitive Landscape: Review strategic developments in the fiber optics market, including expansions, agreements, and new product launches.
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