According to a market report by Lucintel, the future of the fiber optic market looks promising with opportunities in the communication and non-communication segments. The fiber optic market is expected to grow with a CAGR of 10% from 2019 to 2024. The major growth drivers for this market are increasing demand for the internet and growing use of wireless communication systems.
In this market, single mode and multiple modes are the major cable type. Within the fiber optic market, communications and non-communications are the major applications. Communication is the largest application for fiber optics. Glass optical fiber and plastic optical fiber are the major optical fiber type segments in the fiber optic market.
North America will remain the largest market over the forecast period. APAC is expected to witness the highest growth over the forecast period due to large-scale adoption of technology in IT and telecommunication as well as the administrative sector.
Corning Inc., Prysmian Group, AFL Global, Finisar, Leoni AG, Furukawa Electric, LS Cable & System, General Cable Corporation, and Finolex are among the major manufacturers of fiber optics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the fiber optic market by optical fiber type, application, cable type, and region. Lucintel has prepared a comprehensive research report entitled " Fiber Optic Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the fiber optic market by optical fiber type, cable type , application, and region as follows:
By Optical Fiber Type [$M shipment analysis for 2013 – 2024]:
• Glass optical fiber
• Plastics optical fiber
By Cable Type [$M shipment analysis for 2013 – 2024]:
• Single mode
• Multi-mode
By Application [$M shipment analysis for 2013 – 2024]:
• Communications
• Telecom
• Premises
• Utility
• CATV
• Military
• Industrial
• Security
• Metropolitan
• Non-communications
• Sensors
• Fiber Optic Lighting
By Region [$M shipment analysis for 2013 – 2024]:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
o Italy
o Spain
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Indonesia
o Rest of Asia Pacific
• ROW
o Brazil
o Argentina
o Saudi Arabia
o U.A.E.
o Others

This report answers the following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the Fiber optic market by Optical Fiber Type (Glass optical fiber and Plastics optical fiber), Cable Type (Single mode and Multi-mode), Application (Communications- Telecom, Premises, Utility, CATV, Military, Industrial, Security, and Metropolitan and Non-communications- Sensors and Fiber Optic Lighting), and Region (North America, Europe, Asia-Pacific, and ROW)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which regions will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges of the fiber optic market?
Q.5.What are the business risks and threats to the fiber optic market?
Q.6.What are emerging trends in the fiber optic market and the reasons behind them?
Q.7.What are some changing demands of customers in the fiber optic market?
Q.8.What are the new developments in the fiber optic market? Which companies are leading these developments?
Q.9.Who are the major players in the fiber optic market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What are some of the competitive products and processes in the fiber optic market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11.What M & A activities took place in the last five years in the fiber optic market?