ID: MRFR/ICT/0566-CR | 110 Pages | Published By Ankit Gupta on February 2020
Fiber Optic Cable Market Size was valued at USD 11.1 billion in 2021. The Fiber Optic Cable market industry is projected to grow from USD 12.5 Billion in 2022 to USD 30.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.50% during the forecast period (2022 - 2030). It is anticipated that the growing preference in the data centres and telecommunications industry would accelerate the growth prospects of the fibre optic cable market. hence, these are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Growing need for improved connectivity in residential and commercial segment to boost market growth
Flexible fibre optic cables are used to transmit large amounts of digital content over long distances and with excellent performance, which increases demand for them in the digital content industry. The increase of data traffic from numerous sources, including the internet, e-commerce, computer networks, and multimedia (voice, data, and video), has made a greater bandwidth transmission medium necessary for such massive amounts of data. Thus, the widespread adoption of fibre optic cable across a wide range of end-use sectors would fuel the expansion of the market.
Further, Improved telecom and broadband access will increase living standards by promoting tourism and job creation in the Islands. The Andaman and Nicobar Islands will receive quicker, more dependable mobile and landline communication services via the new network, on par with other regions of the nation. Fiber optic cables are also being chosen to support the bandwidth levels catering to advanced technologies like 5G, Big Data, and IoT that heavily rely on real-time data collection and transfer due to their security, scalability, and unlimited bandwidth potential to handle the enormous amount of backhaul traffic being generated. The introduction of 5G is anticipated to increase capacity and reduce latency directly to networks.
Additionally, fibre optic cable is unaffected by changes in temperature, unfavourable weather, or moisture. For instance, communication continues if it comes in contact with rainfall since a fibre cable has no metallic components, thus if lightning strikes it, the electrical surge would not spread. Because it can withstand challenging weather conditions without experiencing performance changes, it is therefore preferred for tough situations like outdoor, long-distance, and industrial applications. Hence, enhanced the Fiber Optic Cable market CAGR across the globe in the recent years.
However, increasing demand for faster internet speed among people is another factor driving the growth of the Fiber Optic Cable market revenue.
The Fiber Optic Cable market segmentation based on type, includes single-mode fiber, multi-mode fiber and others. The single-mode Fiber Optic Cable segment held the majority share in 2022 contribution to around more than 50%in respect to the Fiber Optic Cable market revenue. High application for long-distance communication as well as growing application in data centres are some of the key drivers promoting the expansion of the single mode segment. According to a 2020 study, many businesses and data centres are converting to sing mode fibre optic cables due to the high transmission quality.
Figure 2: Fiber Optic Cable Market, by Surgery, 2021& 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In May 2022: With the introduction of MiniXtend HD cables for 12 to 72 fibres and MiniXtend XD cables for 192 and 288 fibres, Corning Incorporated (US) announced the expansion of its MiniXtend cable range. High density, decreased carbon footprint, and efficient use of duct space are all features of the new MiniXtend HD and MiniXtend XD cables.
In November 2021: New ITU-T G.654.E terrestrial ultra-low-loss optical fibres and cables have been introduced by Sumitomo Electric Industries, Ltd. (Japan) through its PureAdvance series. Broadband applications can use the new products, ultra-low-loss optical fibres and cables. “
The Fiber Optic Cable market data has been bifurcated due to the growing use of fibre optics in data transfer services and communication, the industry has significant growth prospects in the years to come. Information may be transferred at great speeds in both long- and short-range communications thanks to the technology. Additionally, rising demand for cloud-based applications, audio-video services, and video-on-demand services encourages the market expansion of fibre optics in the telecom industry.
Based on End Users, the Fiber Optic Cable industry has been segmented into Information and communications technology (ICT), Banking and financial services (BFSI), Defense and aerospace, Industrial and others. Multispecialty hospitals held the largest segment share in 2021, owing to the rapid adoption of advanced Fiber Optic Cable surgery products, and the availability of skilled medical staff. Moreover, increasing government initiatives to improve the healthcare infrastructure, and the growing number. of Fiber Optic Cable surgeries such as minimally invasive spine surgery, and others segment is expected to bolster at a CAGR of 3.17% during the assessed timeline.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific dominates the optical fiber cable market because the rising usage of fibre optics in the IT and telecom sectors. Further, the major countries studied in the market reportare: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: FIBER OPTIC CABLE MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Fiber Optic Cable market connector in telecom market is expected to gain significant growth in the forecast period of 2022. Further, the Germany Fiber Optic Cablemarketheld a significant market share, and the UK Fiber Optic Cable market was the fastest growing market in the European region
The North America Fiber Optic Cable Market is expected to grow Due rising demand for better connectivity and extensive 3G/4G service. Moreover, China Fiber Optic Cable Market held the largest market share, and the India Fiber Optic Cable market was the fastest growing market in the Asia-Pacific region.
For instance, India Fiber Optic Cable market is also growing at a very high pace due to the upcoming 5g network. This can transmit data more steadily and is faster than other forms, this recent development increases the demand for fiber optic cable market.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Fiber Optic cable market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Fiber Optic Cable industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Fiber Optic Cable industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Fiber Optic Cable Industry has provided with some of the most significant benefits. The Fiber Optic Cable market major player such as Hengtong, Belden (U.S.), Corning Inc.(U.S.). and others are working to expand the market demand by investing in research and development activities
Hengtong was the first to test system integration in 5000 metres of water using China's oceanic optical fibre. Hengtong conducted independent research and built the country's first oceanic optical fibre. For Chinese high-end manufacturing, it has claimed its place in the market. Numerous domestic and international oceanic engineering projects, including those involving the Qiong Zhou Strait and Caspian Sea Oil, have successfully used oceanic optical fibre, which has satisfied local telecom business development, raised the level of local informatization, and assisted in the development of informatization.
Also, PPC is a well-known producer and developer of connectivity solutions. Its operations throughout Asia, Africa, and the Central and South Pacific are regionally headquartered at a facility that was recently built in Kochi, India. The facility has cutting-edge manufacturing capabilities for broadband and 5G equipment, and in October 2022, it will receive TL9000 2016 Certification, allowing all goods produced there to be sold to the biggest fiber-to-the-home (FTTH) and wireless carriers in the world.
ZTT International Limited (India)
Nexans S.A. (France)
Fiber Home (China)
TongDing Group Co. Ltd. (China)
Futong (Hong Kong)
Kaile Science and Technology Co Ltd. (China)
CommScope Inc. (U.S.)
Corning Inc. (U.S.)
FUJIKURA LTD. (Japan)
Prysmian Cables & Systems Limited (U.K.)
Sumitomo Electric Ltd. (Japan)
Furukawa Electric Co. Ltd. (Japan)
Jiangsu Fasten Company Limited (China)
Jiangsu Etern Co. Ltd. (China)
In Year 2022: FUJIKURA LTD. (Japan) By utilising a wide range of optics-related technologies developed in the field of optical fibres for communications, the Optical Technologies R&D Center is undertaking R&D on a variety of innovative technologies. As optical communication networks continue to carry an astounding amount of data, multiplexing and densifying optical fibres is necessary for high-speed, high-capacity communications. Fujikura is fostering research for the creation of multicore fibres, each of which contains multiple cores inside, and has the technology to design and manufacture them.
On September 2021: YOFC- On the basis of specialty optical fibres and its advantageous PCVD-based process for producing optical fibre preforms, YOFC has created a variety of speciality optical components and modules as well as sensing systems. YOFC is exhibiting radiation-resistant optical fibres and cables, high temperature-resistant optical fibres and cables, optical components for automotive radars, optical amplifier modules, fiber-optic distributed temperature sensing system, optical fibre vibration sensing system, and other sensing equipment that could provide long-term, high-quality, and dependable service for specialised markets like oil exploration, manless driving, and rail transportation at the exhibition booth.
Local Mobile Metro Network
Other Local Access Network
Information and communications technology (ICT)
Banking and financial services (BFSI)
Defense and aerospace
Rest of the World
|Market Size 2021||USD 11.1 billion|
|Market Size 2022||USD 12.59 billion|
|Market Size 2030||USD 30.56 billion|
|Compound Annual Growth Rate (CAGR)||13.50% (2022-2030)|
|Market Forecast Period||2022-2030|
|Historical Data||2018 & 2020|
|Market Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-user and Region|
|Geographies Covered||North America, Europe, AsiaPacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Hengtong(china), Belden(U.S), Corning Inc.(U.S), and others|
|Key Market Opportunities||The growing popularity of the internet has resulted in an increase in the use of fiber to the house (FTTH) connections.|
|Key Market Dynamics||The use of fiber optic cables to carry messages with minimal loss, as well as the growing demand for OFC in the IT and telecom sectors,|
The Fiber Optic Cable Market size was valued at USD 11.1 Billion in 2021.
The market is projected to grow at a CAGR of 13.50% during the forecast period, 2022-2030.
North America had the largest share of the market
The key players in the market are Hengtong, Belden (U.S.), Corning Inc.(U.S.). and others.
The high paced growth in the aerospace and automotive sectors is expected to push the growth of the market.
Local mobile metro network, cable television (CATV), and long-distance communication are a few of the main applications improving market growth.
The Fiber Optic Cable market is anticipated to grow USD 30.5 billion by 2030.