The global optical fiber market is forecasted to grow at a healthy rate during the forecast period (2019-2023).  

The market is supported by various growth drivers such as increase in global internet traffic, spike in the number of smartphone users globally, hike in adoption of Fibre to the Home (FTTH), initiatives by governments of various countries to boost OFC deployment, strategic initiatives such as product launches and collaborations undertaken by key players to strengthen their respective optical feber businesses and cater to surging demand for high bandwidth from customers simultaneously. High cost of OFC deployment and installation barriers of optical fiber are some of the challenges faced by the market.