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Optical Interconnect Market size is set to grow by USD 16.80 billion from 2024-2028, Adoption of cloud database boost the market, Technavio

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NEW YORK, July 26, 2024 /PRNewswire/ — The global optical interconnect market size is estimated to grow by USD 16.80 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 20.62% during the forecast period. Adoption of cloud database is driving market growth, with a trend towards demand for millimeter wave connectivity. However, high cost of optical interconnectors poses a challenge. Key market players include 3M Co., Amphenol Corp., Cisco Systems Inc., Corning Inc., FIBERONE LLC, Fischer Connectors Holding SA, Fujikura Ltd., Fujitsu Ltd., Furukawa Electric Co. Ltd., II VI Inc., InnoLight Technology Ltd., Japan Aviation Electronics Industry Ltd., Lumentum Holdings Inc., Molex LLC, NINGBO LONGXING TELECOMMUNICATIONS EQUIPMENT MANUFACTURING CO. LT, NVIDIA Corp., Radiall SA, Sterlite Technologies Ltd., Sumitomo Electric Industries Ltd., and TE Connectivity Ltd..

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Optical Interconnect Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 20.62%

Market growth 2024-2028

USD 16804.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.56

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 62%

Key countries

China, US, South Korea, Japan, and Canada

Key companies profiled

3M Co., Amphenol Corp., Cisco Systems Inc., Corning Inc., FIBERONE LLC, Fischer Connectors Holding SA, Fujikura Ltd., Fujitsu Ltd., Furukawa Electric Co. Ltd., II VI Inc., InnoLight Technology Ltd., Japan Aviation Electronics Industry Ltd., Lumentum Holdings Inc., Molex LLC, NINGBO LONGXING TELECOMMUNICATIONS EQUIPMENT MANUFACTURING CO. LT, NVIDIA Corp., Radiall SA, Sterlite Technologies Ltd., Sumitomo Electric Industries Ltd., and TE Connectivity Ltd.

Market Driver

The global optical interconnect market is anticipated to experience growth due to the increasing demand for high bandwidth applications in 5G networks. ISPs face the challenge of managing 5G wireless backhaul traffic effectively. Two typical network architectures for wireless backhaul traffic are small cell and millimeter wave. The demand for optical interconnect components will rise as they are used to connect millimeter wave connectivity, which is economical and energy-efficient for deploying future 5G networks. The data transmission requirement is expanding rapidly and is expected to continue growing during the forecast period. Millimeter wave connectivity is extensively used in small cell backhaul networks, making it a significant growth opportunity for the optical interconnect market. 

The optical interconnect market is experiencing significant growth due to the increasing demand for efficient data communication solutions. Trends like machine learning and real-time data processing are driving the need for high-bandwidth, low-latency networks. Optical engines and ML/AI networks are at the heart of this transformation. Edge computing and data-intensive technologies require network interconnection solutions that can handle large data traffic. Both single mode fiber and multimode fiber segments are in focus, with single mode fiber leading the way for long-distance data transmissions and high-performance computing applications. 5G networks and the data communication segment are key drivers, particularly in the areas of cloud services, large-scale datacenters, and data storage. Semiconductor companies and infrastructure software solutions are investing heavily in this space. IoT, driverless vehicles, and wireless communication are also contributing to the increased bandwidth requirements. Overall, the optical interconnect market is poised for continued growth in the coming years. 

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Market Challenges

The optical interconnect market offers a range of interconnectors with varying average selling prices (ASP). The price can fluctuate based on factors such as applications, package weight, bandwidth, split ratios, custom wavelength, coupling ratio, sample rate, and channels. Interconnectors with high bandwidths up to ±200 nm and center wavelengths up to 2,000 nm have a higher ASP. These interconnectors are capable of analyzing signals from standard cables like USB, coaxial, and Ethernet, with several automatic measurements. However, the high cost of these interconnectors represents a significant capital expenditure for industries, which could potentially hinder the growth of the global optical interconnect market during the forecast period.The Optical Interconnect Market is experiencing significant growth due to increasing data traffic in cloud storage, deep learning, and hyperscale datacenters. Efficient data communication is crucial for next-generation applications like 5G services, driverless vehicles, smart gaming, and the Internet of Things. Optical interconnect technologies, such as fiber mode, offer higher bandwidth requirements and lower latency compared to copper-based interconnects. However, challenges remain. Alignment and packaging, compatibility, and interoperability are key concerns for datacenter companies. The commercialization of 5G services and high-performance computing demands for big data analytics, artificial intelligence, and high-bandwidth data centers networks. Telecommunications networks and data communication infrastructure require optical interconnect solutions to meet the needs of cloud computing, big data, and fiber optics. To address these challenges, optical interconnect manufacturers must focus on developing innovative solutions that cater to the unique requirements of various industries while ensuring seamless integration with existing infrastructure. Optical interconnect solutions must be designed to meet the evolving needs of next-generation applications and services.

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Segment Overview 

This optical interconnect market report extensively covers market segmentation by  

Fiber Type1.1 Single-mode fiber1.2 Multimode fiberConnectivity 2.1 Rack level2.2 Long-haul level2.3 Chip and board levelProduct Type3.1 Optical transceivers3.2 Connectors3.3 Cable assemblies3.4 OthersGeography 4.1 APAC4.2 North America4.3 Europe4.4 South America4.5 Middle East and Africa

1.1 Single-mode fiber-  Single-mode optical fibers are the most common type of fibers used for long-distance communication in fiber optics. These fibers allow light to travel directly through the core without bouncing at the edges, resulting in less signal deformation and lower attenuation. Single-mode fibers have a small core diameter of 8-9 microns and a larger cladding diameter of 125 microns, reducing reflections and enabling longer transmission distances. Major vendors in this market include Sterlite Technologies Ltd., The 3M Co., and Molex, LLC. Applications of single-mode fibers span across telecommunications, education, CATV companies, military, ships, aerospace, data centers, medical cases, and telemetry. The advantages of single-mode fibers include faster transmission over long distances, lower integrity loss, and cost-effectiveness. The market for single-mode fibers is expanding due to these advantages and the increasing demand for long-distance communication in various industries.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global photonics market is experiencing robust growth, driven by advancements in technology and increased demand for high-speed communication and imaging systems. Key sectors include telecommunications, healthcare, and manufacturing, with significant investments in research and development. Major players such as Intel, Bosch, and Nikon are leading innovations in laser technology, optical components, and imaging systems, fueling market expansion and enhancing applications across various industries.

Research Analysis

The optical interconnect market is experiencing significant growth due to the increasing demand for high-speed data transmission in various industries. Cloud computing, big data analytics, artificial intelligence, and high-performance computing are driving the need for advanced optical interconnect technologies. Data centers, telecommunications networks, and IoT are key areas where optical interconnects are finding extensive applications. The market is segmented into multimode fiber and single mode fiber segments based on the type of fiber used. Optical interconnects offer increased bandwidth, making them ideal for short-distance data transmissions in data centers and hyper-scale datacenters. The commercialization of 5G services and the rise of high-efficiency processing in high-performance computing applications are further boosting the market. Alignment and packaging are critical factors influencing the performance and cost of optical interconnects. The market is expected to grow significantly in the coming years due to the increasing demand for high-speed data transmission in various applications, including data center networks, driverless vehicles, and data analytics.

Market Research Overview

The optical interconnect market is experiencing significant growth due to the increasing demand for high-speed data communication in various industries, including cloud computing, big data analytics, artificial intelligence, high-performance computing, and telecommunications networks. Optical interconnect technologies, such as single mode fiber and multi-mode fiber, are becoming essential for next-generation applications and services that require increased bandwidth and real-time data processing. Optical interconnect solutions offer compatibility and interoperability, making them ideal for network interconnection in data centers, hyperscale datacenters, and large-scale cloud service providers. The market is also driven by the commercialization of 5G networks, IoT, and edge computing, which require high-bandwidth, efficient data communication. Optical engines, ML/AI networks, and infrastructure software solutions are key components of optical interconnects, enabling machine learning, real-time data processing, and high-efficiency processing. Copper-based interconnects are being replaced by optical interconnects due to their higher performance and bandwidth capabilities. The data communication segment and data communication applications are the primary drivers of the optical interconnect market. The market is expected to grow significantly in the coming years due to the increasing demand for data-intensive technologies and the need for high-performance networking in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Fiber TypeSingle-mode FiberMultimode FiberConnectivityRack LevelLong-haul LevelChip And Board LevelProduct TypeOptical TransceiversConnectorsCable AssembliesOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Protiviti Congratulates Brand Ambassador Matt Fitzpatrick as Fitzpatrick Brothers Win Zurich Classic of New Orleans

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33 minutes ago

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April 27, 2026

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Alex Fitzpatrick Earns PGA TOUR Card

MENLO PARK, Calif., April 26, 2026 /PRNewswire/ — Protiviti Golf Brand Ambassador and professional golfer Matt Fitzpatrick continued his strong 2026 season with a victory at the Zurich Classic of New Orleans alongside his brother, Alex Fitzpatrick. The Fitzpatrick brothers delivered a composed and cohesive performance throughout the team-format event, completing rounds of 64-65-57-71 (-31). The win secured Alex Fitzpatrick his first PGA TOUR card, marking a significant milestone in his professional career.

This marks Matt Fitzpatrick’s third win of the season, most on the PGA Tour, the 14th professional win of his career, and fifth on the PGA Tour. Fitzpatrick is currently No.1 on the FedEx Cup ranking and No. 3 in the Official World Golf Ranking, the highest ranking of his career. 

To commemorate Fitzpatrick’s win, Protiviti donated 25,000 meals through its “Birdies for Meals” campaign. Since its launch in 2021, the Birdies for Meals program has already donated more than 825,000 meals to people in need. 

“Congratulations to Matt Fitzpatrick and Alex Fitzpatrick on an outstanding victory—an inspiring showcase of chemistry and consistency. We also applaud Alex on earning his PGA TOUR card, a significant step in his career,” said Joseph Tarantino, Protiviti’s president and CEO. “In celebration of this win, Protiviti will donate 25,000 meals through our Birdies for Meals campaign, extending the impact well beyond the course.”

As Matt Fitzpatrick’s Official Performance Data Partner, Protiviti collaborates closely with Matt and his coaching team to enhance performance through advanced analytics and technology. By leveraging Microsoft technologies, Protiviti has developed a custom analytics platform, tailored dashboards, and a mobile application that streamline data collection and deliver real-time, shot-level insights. These tools enable more informed, data-driven decision-making across practice and competition, helping identify trends, refine preparation, and improve consistency. Learn more at www.protiviti.com/golf-data.

“It has been an incredible opportunity to work with Matt and see Protiviti’s work play a role in his on-course success. Just as we do with many clients, our team has built a bespoke program leveraging emerging technologies, advanced analytics and artificial intelligence to provide Matt, his caddie, and coaches with analysis and insights that aid in his preparation and guide strategy for each event he plays,” said Nick Ciafardini, associate director, Innovation for Protiviti.

“This win is surreal for me, especially doing it alongside my brother. I’m incredibly proud of Alex earning his PGA TOUR card—it’s a huge milestone for him and one we’ll always share. I’m also so grateful for the unwavering support from my family, my team, and my partners at Protiviti, whose data-driven approach to performance has become a key part of my preparation and constant pursuit of improvement,” said Matt Fitzpatrick.

After taking control with a historic 15-under in the fourball third round, the Fitzpatrick brothers briefly dropped the lead in the final round. With the tournament on the line at the 18th, they delivered a clutch closing sequence to seal the victory. Matt’s precision tee-to-green and Alex’s timely putting proved decisive, highlighting their chemistry under pressure.

Other notable Fitzpatrick wins include the 2015 British Masters, 2016 Nordea Masters, the 2016, 2020, and 2025 DP World Tour Championships. On the PGA Tour, Fitzpatrick also won the 2022 U.S. Open, RBC Heritage (2023 & 2026) and the 2026 Valspar Championship. He has been a Protiviti brand ambassador since 2020.

For more information about Protiviti’s golf brand ambassador program, please visit www.protiviti.com/golf.

About Protiviti 
Protiviti (www.protiviti.com) is a global consulting firm that helps clients transform and protect their businesses, and respond to planned and unexpected events. Through a network of more than 90 offices in over 25 countries, Protiviti and its independent and locally owned member firms deliver deep expertise and tailored capabilities across technology, artificial intelligence, data, operations, finance, legal, compliance, HR, marketing, digital, risk, and internal audit – enabling organizations to accelerate innovation, navigate risks and safeguard what matters most.

Named to the Fortune 100 Best Companies to Work For® list since 2015, Protiviti Inc. has served more than 80 percent of Fortune 100 and nearly 80 percent of Fortune 500 companies. The firm also works with government agencies and smaller, growing companies, including those looking to go public. Protiviti Inc. is a wholly owned subsidiary of Robert Half (NYSE: RHI).

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Plug and Play partners with the Nigerian Institution of Marine Engineers and Naval Architects to elevate Nigeria’s maritime ecosystem

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33 minutes ago

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April 27, 2026

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SINGAPORE, April 27, 2026 /PRNewswire/ — Plug and Play, the world’s largest open innovation platform headquartered in Silicon Valley, announced a strategic partnership with the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA) to accelerate the transformation of Nigeria’s maritime sector into a globally competitive innovation hub.

The partnership will connect Nigeria’s maritime ecosystem to global standards, networks, and capital by leveraging Plug and Play’s international corporate partnerships, accelerator expertise, and cross-border innovation infrastructure.

At its core, the collaboration will launch a dedicated maritime & energy innovation platform focused on advancing engineering-led technologies across maritime, energy, supply chain, and logistics sectors. The initiative will involve the development of a startup pipeline between Nigeria and Singapore, widely regarded as one of the world’s most advanced maritime & energy innovation ecosystems serving as a neutral and trusted testbed for technology validation. 

Through this program, selected startups will receive:

Access to cutting-edge technologies and global industry insightsStructured mentorship from international maritime & energy innovation leadersPilot and proof-of-concept opportunities in a globally benchmarked ecosystemCommercialization pathways into the Nigerian marketBusiness development and investor-readiness supportOpportunities for cross-border partnerships and market expansion

By ensuring that solutions being scaled into Nigeria have been validated in overseas markets the program minimizes adoption risks while accelerating technology transfer and investment flows into the Nigerian maritime & energy sector.

“Engineering-driven innovation is critical to solving some of the world’s most complex challenges—from sustainable shipping to the decarbonization of marine operations,” said Jupe Tan, Managing Partner, APAC, Plug and Play. “By partnering with NIMENA, we are creating a trusted bridge between global innovation ecosystems and Nigeria’s maritime & energy sector, unlocking pathways for international collaboration and long-term competitiveness.”

“This partnership marks a transformative step for Nigeria’s energy and maritime innovation ecosystem,” said Dr. Eferebo Sylvanus, National Chairman, NIMENA. “By aligning with global standards and connecting our local talent to international platforms, we are creating new opportunities for Nigerian innovators to scale their solutions beyond borders while strengthening our national capabilities.”

Addressing Critical Ecosystem Gaps

1. Strengthening Ecosystem Alignment

To address fragmentation across government, academia, and industry stakeholders, Plug and Play has conducted a comprehensive ecosystem assessment. This data-driven evaluation examines capital access, talent pipelines, infrastructure readiness, and regulatory frameworks—culminating in a Strategic Ambition and Vertical Map for Nigeria’s maritime sector.

2. Creating a Stronger Investment Pipeline

While sector-specific funding opportunities exist, structured validation and vetting mechanisms remain limited. Under this partnership, Plug and Play will curate high-potential stage agnostic startups directing capital toward scalable, innovation-driven ventures with strong technical and commercial viability.

3. Enabling Global Market Access

The partnership will provide stage-agnostic startups with exposure to large corporations, regulators, and investors. Successful technologies will transition into exploring scaling opportunities in Nigeria for commercialization, positioning Nigeria as a high-growth destination for innovation across Africa.

A Bridge Between Global Trust and Local Scale

More than an accelerator program, the Plug and Play–NIMENA partnership is designed as a long-term platform for trust-building, knowledge transfer, and ecosystem anchoring.

Singapore will serve as the gateway for technology validation and international credibility, while Nigeria will serve as the destination for scaling, commercialization, and impact. This dual-ecosystem model ensures that cutting-edge solutions are introduced with global benchmarks while enabling sustainable, locally anchored growth.

As international startups expand into Nigeria, they will establish local operations, drive knowledge transfer, build intellectual property, and create high-value employment opportunities. Over time, this approach will not only attract foreign innovators but also catalyze the rise of homegrown Nigerian startups capable of contributing solutions to the global maritime industry.

By combining NIMENA’s technical leadership with Plug and Play’s global innovation infrastructure, the partnership represents a decisive step toward positioning Nigeria as an innovation hub for Africa, and a leader for maritime, energy, and adjacent industries for the region, ultimately strengthening competitiveness, accelerating entrepreneurship and advancement of technologies in their market, and aligning the national ecosystem with global best practices.

For partnership and participation inquiries:

Industry stakeholders interested in partnering are invited to connect with the team. We are actively seeking corporate and institutional partners to collaborate on pilot projects, proof-of-concept initiatives, and ecosystem development efforts. Global startups developing solutions across maritime, energy, logistics, supply chain, and related sectors are also encouraged to reach out to be considered for participation in the program.

For more information, please contact  nimena-program@pnptc.com

About the partners:

About Plug and Play

Plug and Play is the leading global innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, Plug and Play operates in more than 60 locations across five continents, helping corporate partners and founders in every stage of the innovation journey — from education to execution. Plug and Play runs startup acceleration programs, corporate innovation services, and an in-house venture capital platform that has invested in hundreds of successful companies, including Dropbox, PayPal, Honey, LendingClub, N26, and Rappi. For more information, visit https://www.plugandplayapac.com/

About the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA)

The Nigerian Institution of Marine Engineers and Naval Architects (NIMENA) is a professional body consisting of Naval Architects, Marine Engineers, and allied professions. NIMENA is dedicated to strengthening professional standards, fostering technological innovation, promoting capacity, and sustainable development in Nigeria’s maritime sector. The institution provides thought leadership, professional development opportunities, technical workshops, and industry events to support maritime engineering excellence and capacity building. For more information, visit https://nimena.org.ng/home.html

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TPIsoftware Wins “Taiwan SMART 50 Award” for Its FHIR-Based Medical AI Application

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April 27, 2026

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TAIPEI, April 26, 2026 /PRNewswire/ — TPIsoftware (TPEx: 7781) was honored with the first Taiwan SMART 50 Award for creating a FHIR-based Medical AI Application.

Organized by the Ministry of Health and Welfare, the award encourages the development of smart health apps that align with the SMART on FHIR standard to enable secure and real-time data sharing across different hospitals. 50 apps were selected from 115 submissions through an open call. These apps will be listed on the Taiwan Health App Space (THAS) as part of the country’s initiative to foster data interoperability in healthcare.

TPIsoftware’s submission of an AI-powered procedural coding tool, which is a module of its healthcare solution digiCare, has been proven to be practically effective and compliant with SMART on FHIR.

The procedural coding app uses Natural Language Processing (NLP) to identify whether a contrast agent is applied or specify anatomical sites in a radiology report. The tool generates suggested codes once clinical details are recognized, which medical professionals can then review and manually revise. The automated workflow improves coding accuracy, reduces denied claims and ensures compliance with ICD-10-PCS and DICOM. The data entry process is streamlined since the tool is compatible with existing systems such as EHR and HIS, freeing up staff to handle complex patient concerns and care journeys.

“Being named one of the SMART 50 Apps demonstrates our R&D capacity in supporting healthcare transformation. The standardized framework enables hospitals and medical centers to provide informed, high-quality care with greater consistency, security and plug-and-play simplicity,” said Pierre Hsia, Executive Vice President of Enterprise Application Development Division at TPIsoftware.

TPIsoftware General Manager Yilan Yeh attributed the accolade to the company’s domain expertise and years of experience in highly-regulated industries. “Partnerships among industry leaders, academic institutions, healthcare providers and government agencies are nurtured to support patient-centered care, clinical decisions and treatment. Following the model of the US All of Us Research Program, we are committed to building Taiwan’s national database aligned with the TW Core Implementation Guide (IG) and FHIR standard, where data are made accessible within an open, standardized ecosystem.”

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