Single-mode fiber is an optical fiber designed to carry light only directly down the fiber - the transverse mode. It can be divided into ITU-T.G.652, ITU-T.G.653 and ITU-T.G.655 etc.

Global single-mode fiber market was valued at 3698 Million US$ in 2018 and is projected to reach 4944 Million US$ by 2024, at a CAGR of 4.96% during the forecast period.

The global market is majorly driven by the pursuit of high bandwidth communication and growing opportunities in the healthcare sector along with increasing government funding in the development of network infrastructure.

The industry presents promising growth prospects throughout the forecast period in view of a combination of factors namely increasing investments and research undertaken by prominent players in the industry to develop and upgrade the optical technology application arena. In addition, the growing awareness of the benefits of adopting the technology is further propelling market growth.

Optical technology has gained prominence over the past few years, owing to persistent research & development activities and the escalating demand for high bandwidth communication and data services. The global market for the overall optical technology segment, including connectors, sensors, and fiber optic cables, is expected to grow sizably over the forecast period.
The optical arcade is anticipated to witness a substantial growth over the forecast period. The high demand for optical communication and sensing applications for diverse purposes provides avenues for industry growth. Furthermore, the growing demand for cost-effective, power-efficient, and high-level integration of IT infrastructure is expected to impel market demand in the next few years.

Key players in global single-mode fiber market include: Corning, Prysmian, Fujikura, Sumitomo Electric, Furukawa Electric, FUTONG Group, Tongding Group, CommScope, Yangtze Optical Fibre and Cable, Hengtong Optic-electric, Fiber Home Technologies Group, ZTT Group etc.