Fiber Optic Components Global Market Report 2024

The global fiber optic components market has grown strongly in recent years. It will grow from $26.19 billion in 2023 to $28.62 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. Historical growth can be attributed to the internet revolution and escalating data demand, advancements in fiber optics technology, the increasing need for global connectivity, the emergence and widespread adoption of cloud computing, and government initiatives and investments in technological infrastructure.

The global fiber optic components market is expected to see strong growth in the next few years. It will grow to $41.67 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period is driven by the growth of the Internet of Things (IoT), expansions in data center infrastructure, initiatives toward smart cities, the increasing prevalence of remote work, and the integration of renewable energy sources. Major trends expected during this period encompass advancements in mobile and wireless technologies, the expansion of 5G networks, progress in optical networking technologies, rapid digital transformation across industries, and the growing demand for increased bandwidth to support evolving connectivity needs.

The escalating demand for internet services is fueling the growth of the fiber optic components market. Fiber optic technology serves as the backbone of the internet, allowing faster transmission of large volumes of data across extensive distances. As per the International Telecommunication Union (ITU), global internet users surged by 782 million in 2021, reaching 63% of the global population, underlining the surge in internet usage. This rise in demand is a key driver behind the expansion of the fiber optic components market.

The proliferation of smart cities, utilizing ICT to enhance operational efficiency and infrastructure, is driving the demand for fiber optic components. These components facilitate seamless data exchange among various sensors, devices, and control centers within smart city infrastructures. Government initiatives, such as the Investment and Jobs Act allocating $500 million for smart city development in the United States and the substantial increase in India's funding for smart city development, signify the increasing investments and initiatives propelling the growth of the fiber optic components market.

Innovation remains a significant trend in the fiber optic components market, with major industry players focusing on technological advancements to solidify their market presence. For instance, Sumitomo Electric Industries Ltd. introduced the 'AirEB,' a multi-fiber connector with expanded beam technology, offering superior optical performance tolerance and cost advantages in terms of cleaning, maintenance, and productivity. This precision-molded connector is designed to perform exceptionally well in challenging environmental conditions.

Major companies in the fiber optic components sector are directing their efforts toward developing advanced technologies like photonics analyzers. Santec's launch of the Swept Photonics Analyzer (SPA-100) in February 2023 showcases significant technological advancements. Employing Optical Frequency Domain Reflectometry (OFDR), the SPA-100 enables precise testing of small-scale fiber optic and photonic devices, providing exceptional spatial resolution. This technology proves beneficial for evaluating compact fiber optic assemblies, silicon photonic circuits, and other miniature devices with high accuracy.

In August 2022, Lumentum Holdings Inc., a prominent US-based manufacturer and designer specializing in innovative optical networking and photonic products, successfully acquired NeoPhotonics Corporation for an undisclosed sum. This strategic acquisition strategically combines resources, fostering an opportunity for the development of high-speed optical components tailored for telecom networks and cloud infrastructure. The integration is poised to empower Lumentum in expanding and fortifying its photonics capabilities, driving innovation in product development and technology portfolios. NeoPhotonics Corporation, also based in the US, is recognized for its expertise in manufacturing and developing lasers and optoelectronic solutions specifically designed for internet and telecom networks. Through this acquisition, Lumentum aims to leverage NeoPhotonics' specialized technologies and solutions, enhancing its position and advancing its offerings in the rapidly evolving landscape of optical networking and photonics technologies.

Major companies operating in the fiber optic components market report are Coherent Corp., Lumentum Holdings Inc., Broadcom Inc., Sumitomo Electric Industries Ltd., Accelink Technologies Corporation, Acacia Communications Inc., EMCORE Corporation, Fujitsu Optical Components Limited, The Furukawa Electric Co. Ltd., Finisar Corporation, O-Net Technologies (Shenzhen) Group Co. Ltd., Oclaro Inc., Reflex Photonics Inc., TE Connectivity Ltd., Fiber Mountain, KAIAM Corporation, MW Technologies LDA, NeoPhotonics Corporation, Shenzhen Nokoxin Technology Co. Ltd., Amphenol Corporation, II-VI Incorporated, Prysmian Group, Yangtze Optical Fibre and Cable Joint Stock Limited Company, Fujikura Ltd., Corning Incorporated, Infinera Corporation, Ciena Corporation, FiberHome Telecommunication Technologies Co. Ltd., ZTE Corporation, and Huawei Technologies Co. Ltd.

Asia-Pacific was the largest region in the fiber optic components market share in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber optic components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fiber optic components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These components encompass various categories like cables, active optical cables, amplifiers, splitters, connectors, circulators, transceivers, and others. Cables represent assemblies of thick wires enclosed within rubber or plastic sheathing, functioning as conductors for transmitting optical or electrical signals. These cables are pivotal for high-performance networking and connectivity over long distances. The fibers utilized in these components are composed of materials like glass and plastic, catering to diverse applications such as distributed sensing, analytical and medical equipment, lighting, and communication networks.

This report provides fiber optical components market statistics, including fiber optical components industry global market size, regional shares, competitors with a fiber optical components market share, detailed fiber optical components market segments, market trends and opportunities, and any further data you may need to thrive in the fiber optical components industry. This fiber optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fiber optic components market consists of sales of cladding, coating, core, cable jacket, and strengthening fibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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