For data communications over long distances, optical wireless satellite networks (OWSNs) can offer lower latency than optical fiber terrestrial networks (OFTNs). However, when is it beneficial to switch or crossover from an OFTN to an OWSN for lower latency data communications? In this article, we introduce a crossover function that enables to find the crossover distance, i.e., a distance between two points on the surface of the Earth beyond which switching or crossing over from an OFTN to an OWSN for data communications between these points is useful in terms of latency. Numerical results reveal that a higher refractive index of optical fiber (or $i$) in an OFTN and a lower altitude of satellites (or $h$) in an OWSN result in a shorter crossover distance. To account for the variation in the end-to-end propagation distance that occurs over the OWSN, we examine the crossover function in four different scenarios. Numerical results indicate that the crossover distance varies with the end-to-end propagation distance over an OWSN and is different for different scenarios. We calculate the average crossover distance over all scenarios for different $h$ and $i$ and use it to evaluate the simulation results. Furthermore, for a comparative analysis of OFTNs and OWSNs in terms of latency, we study three different OFTNs having different refractive indexes and three different OWSNs having different satellite altitudes in three different scenarios for long-distance intercontinental data communications, including connections between New York and Dublin, Sao Paulo and London, and Toronto and Sydney. All three OWSNs offer better latency than OFTN2 (with $i_{2}$ = 1.3) and OFTN3 (with $i_{3}$ = 1.4675) in all scenarios. For example, for Toronto–Sydney connection, OWSN1 (with $h_{1}$ = 300 km), OWSN2 (with $h_{2}$ = 550 km), and OWSN3 (with $h_{3}$ = 1100 km) perform better than OFTN2 by 18.11%, 16.08%, and 10.30%, respectively, while they provide an improvement in latency of 27.46%, 25.67%, and 20.54%, respectively, compared to OFTN3. OWSN1 performs better than OFTN1 (with $i_{1}$ = 1.1) for Sao Paulo–London and Toronto–Sydney connections by 2.23% and 3.22%, respectively, while OWSN2 outperforms OFTN1 for Toronto–Sydney connection by 0.82%. For New York–Dublin connection, all OWSNs while for Sao Paulo–London connection, OWSN2 and OWSN3 exhibit higher latency than OFTN1 as the corresponding average crossover distances are greater than the shortest terrestrial distances between cities in these scenarios. Multiple satellites (or laser intersatellite links) on its shortest paths drive up the propagation distance to the extent that OWSN3 ends up with a higher latency than OFTN1 for the Toronto–Sydney intercontinental connection scenario although the related average crossover distance is less than the shortest terrestrial distance between Toronto and Sydney. The challenges related to OWSNs and OFTNs that may arise from this work in future are also highlighted.