Fiber Optic Cable Market - By Fiber Type (Single-Mode Fiber, Multi-Mode Fiber), By Deployment (Underground, Underwater, Aerial), By Cable Type (Ribbon Tube, Loose Tube, Tight Buffered, Central Core), By End-user Industry & Forecast 2024 - 2032

Fiber Optic Cable Market Size

Fiber Optic Cable Market was valued at USD 11.9 billion in 2023 and is expected to grow at a CAGR of over 9% between 2024 and 2032. The rising need for high-speed internet and data transmission is a primary driver of the market.
 

As the world becomes more digital, the demand for faster and more reliable internet connections has surged. Fiber optic cables offer superior bandwidth and speed compared to traditional copper cables, making them essential for supporting the growing number of internet-connected devices, streaming services, and cloud-based applications. This demand is particularly strong in urban areas and developed regions, where high-speed internet is a critical requirement for both personal and professional use.
 

For instance, in May 2023, At ANGA COM, CommScope unveiled the newest models in its HomeVantage series of fiber gateways and optical network units (ONUs). Fiber gateways, such the HomeVantage NVG578M2 and NVG578M1, offered service providers an affordable option to distribute high-speed internet throughout the house, supporting streaming video, VoIP, and data.
 

The expansion of telecommunication networks is another significant growth driver. Telecom operators are continuously upgrading their infrastructure to meet the increasing data traffic and to provide better services to their customers. Fiber optic cables are the backbone of modern telecommunications networks, enabling the transmission of large amounts of data over long distances with minimal loss. The deployment of 5G networks, which require a robust fiber optic infrastructure to function effectively, is further accelerating the demand for fiber optic cables.
 

The installation and maintenance of fiber optic cables can be complex and challenging. The process often involves digging trenches, navigating existing infrastructure, and ensuring precise connections, which requires skilled labor and specialized equipment. Maintenance of fiber optic networks can also be challenging, as any damage to the cables can disrupt data transmission and require costly and time-consuming repairs. The complexity and cost of installation and maintenance can limit the widespread adoption of fiber optic technology, particularly in areas with challenging terrain or existing infrastructure constraints.
 

Fiber Optic Cable Market Trends

The deployment of 5G networks is a significant driver of growth in the fiber optic cable industry. 5G technology demands high-speed, high-capacity fiber optic infrastructure to support its ultra-fast data transmission rates and low latency. Fiber optics are essential for the backbone of 5G networks, connecting base stations and data centers to handle the increased data traffic generated by 5G applications. As telecom operators and service providers accelerate their 5G rollout plans globally, the demand for fiber optic cables is rising, leading to increased investments in fiber optic infrastructure to meet the needs of next-generation wireless communication.
 

The expansion of Fiber to the Home (FTTH) projects is another key trend fueling growth in the fiber optic cable market. FTTH involves extending fiber optic cables directly to residential and commercial buildings, providing end-users with high-speed internet access and improved network performance. This trend is driven by the growing consumer demand for faster internet speeds and higher bandwidth for activities such as streaming, online gaming, and remote work. Governments and private companies are investing heavily in FTTH deployments to enhance broadband connectivity and bridge the digital divide, further driving the demand for fiber optic cables.
 

The rise of data centers and cloud computing is significantly impacting the market. Data centers require high-capacity fiber optic networks to handle large volumes of data traffic and ensure rapid, reliable access to cloud services. As businesses and consumers increasingly rely on cloud-based applications and services, the demand for data centers is growing. This, in turn, drives the need for advanced fiber optic cabling solutions that can support high-speed data transmission and network scalability. The continuous expansion of data centers and the proliferation of cloud computing services are key trends contributing to the robust growth of the market.
 

Fiber Optic Cable Market Analysis

Based on end-user industry, the market is divided into telecommunication, power utilities, defense/military, industrial, medical, and others. The industrial segment is expected to register a CAGR of 10% during the forecast period.
 

• The industrial segment encompasses the use of fiber optic cables in various industrial applications, including automation, control systems, and monitoring in manufacturing, oil and gas, mining, and utilities.
   
• Fiber optic cables are valued in industrial environments for their ability to transmit data over long distances without significant signal degradation and their resistance to electromagnetic interference, which is common in industrial settings. These cables are used to connect sensors, control systems, and machinery, facilitating efficient data communication and real-time monitoring of industrial processes.
   
• The rugged design of industrial fiber optic cables allows them to endure harsh conditions, such as exposure to chemicals, moisture, and mechanical stress. The push towards Industry 4.0, which emphasizes automation, smart factories, and the integration of cyber-physical systems, is a significant driver for the adoption of fiber optic technology in the industrial sector. As industries increasingly rely on data-driven operations, the demand for reliable, high-performance fiber optic networks continues to grow.
   

Based on fiber type, the market is divided into single-mode fiber & multi-mode fiber. The single-mode fiber segment dominated the global market with a revenue of over 14 billion in 2032.

• The single-mode fiber segment in the fiber optic cable market is characterized by its use in long-distance and high-bandwidth telecommunications. Single-mode fibers have a smaller core diameter, typically around 8-10 micrometers, which allows light to travel through a single path or mode. This design minimizes signal attenuation and dispersion, making single-mode fibers ideal for transmitting data over long distances with high fidelity and speed.
   
• They are extensively used in applications such as intercity and transoceanic networks, data centers, and high-speed internet services. The growing demand for faster and more reliable internet connectivity, driven by the proliferation of cloud computing, 5G networks, and IoT devices, is fueling the expansion of the single-mode fiber segment.
   
• Additionally, advancements in single-mode fiber technology, such as bend-insensitive fibers and higher-capacity transmission solutions, continue to enhance their performance and adoption in the telecommunications industry. 
   

Asia-Pacific dominated the global fiber optic cable market in 2023, accounting for a share of over 35%. In the Asia-Pacific region, the market is experiencing rapid growth driven by significant investments in telecommunications infrastructure and a booming digital economy. Countries such as China, India, and Australia are leading the way with extensive deployments of fiber optic networks to support their growing internet user bases and expanding data centers. The region's increasing urbanization and the rise of smart cities are further accelerating the demand for high-speed, high-capacity connectivity. Governments in Asia-Pacific are also investing in large-scale Fiber-to-the-home (FTTH) projects and 5G network rollouts, which are integral to meeting the high-speed internet demands of their populations. The growing emphasis on digital transformation and technological advancement across various sectors is a key factor driving the expansion of the market in this dynamic region.
 

United States is a major driver of growth in the fiber optic cable market, driven by its extensive investment in telecommunications infrastructure and technology innovation. The country’s commitment to rolling out 5G networks and expanding Fiber to the Home (FTTH) projects is significantly boosting demand for fiber optic cables. The U.S. market benefits from a highly developed technology ecosystem and substantial investments from leading telecom operators and technology companies. Government initiatives to improve broadband access and support digital infrastructure development further contribute to the growth of the market. The high demand for data centers and cloud services also drives the need for robust fiber optic networks, reinforcing the U.S.'s position as a key market in this sector.
 

For instance, in July 2023, to produce specialized optical telecommunication fibers for the EMEA market, Comvance bought a portion of the OFS Fitel ApS plant in Denmark, OFS and Heraeus Comvance jointly announced. By continuing to supply various fiber types from draw towers in the United States, the business preserved its worldwide footprint.
 

Japan is a prominent market for fiber optic cables, fueled by its advanced technology landscape and high demand for high-speed internet connectivity. The country’s rapid adoption of Fiber to the Home (FTTH) technology has been a major driver of fiber optic cable demand, as Japan aims to provide fast and reliable internet access across urban and rural areas. Japan’s focus on digital innovation, including the rollout of 5G networks and smart city projects, supports the expansion of fiber optic infrastructure. Additionally, the country’s leading technology firms and significant investments in data centers contribute to the growing need for high-capacity fiber optic cables. Japan’s robust commitment to technological advancement and network modernization underscores its importance in the global market.
 

China is a key player in the fiber optic cable market, driven by its rapid economic growth and extensive investments in telecommunications infrastructure. The country’s ambitious initiatives to expand its Fiber to the Home (FTTH) coverage and roll out 5G networks are major contributors to the increasing demand for fiber optic cables. China’s large-scale projects in urban development, smart cities, and data center expansion further drive the need for high-speed, high-capacity connectivity solutions. Government policies supporting digital infrastructure development and the continuous advancement of technology play a crucial role in boosting the fiber optic cable industry. China’s focus on achieving digital transformation and enhancing broadband access positions it as a leading market for fiber optic cables.
 

South Korea is a dynamic market for fiber optic cables, characterized by its advanced technological infrastructure and high demand for fast, reliable internet services. The country’s emphasis on expanding Fiber to the Home (FTTH) networks and rolling out 5G technology drives significant demand for fiber optic solutions. South Korea’s strong focus on innovation, smart city development, and digital transformation supports the growth of the market. The government’s initiatives to enhance broadband connectivity and investments from major telecom operators further contribute to the market’s expansion. South Korea’s commitment to maintaining its position as a technology leader ensures a continued strong demand for high-performance fiber optic cables.
 

Fiber Optic Cable Market Share

Corning Incorporated & Sumitomo Electric Industries Ltd hold a significant share in the market. Corning Incorporated holds a significant share in the fiber optic cable industry due to its long-standing history of innovation and leadership in materials science and optical communications. Corning is widely recognized for its invention of low-loss optical fiber, which revolutionized the telecommunications industry. The company's extensive research and development efforts have led to numerous advancements in fiber optic technology, such as bend-insensitive fibers and high-capacity fiber solutions. Corning’s comprehensive product portfolio includes a wide range of fiber optic cables that cater to various applications, from long-haul communications to data centers and FTTH (Fiber to the Home) deployments. Their commitment to quality and performance ensures that their products meet the rigorous demands of modern communication networks. Additionally, Corning's global manufacturing and distribution capabilities enable them to efficiently supply fiber optic cables to customers worldwide, further solidifying their dominant position in the market.
 

Sumitomo Electric Industries Ltd holds a significant share in the fiber optic cable market due to its expertise in advanced materials and precision manufacturing. As one of the world's leading producers of optical fiber and cable, Sumitomo Electric has developed a reputation for high-quality, reliable products that support various telecommunication infrastructures. The company's innovations in fiber optic technology include the development of ultra-low-loss fibers, high-density cables, and advanced splicing and installation solutions. Sumitomo Electric's strong focus on research and development allows it to continually introduce cutting-edge products that meet the evolving needs of the industry. The company's extensive global presence, with manufacturing facilities and sales networks in key regions, ensures timely delivery and support for its products. Sumitomo Electric’s ability to provide comprehensive fiber optic solutions, from raw fiber production to complete cabling systems, enables them to maintain a significant market share and meet the demands of diverse applications across the telecommunications sector.
 

Fiber Optic Cable Market Companies

Major players operating in the fiber optic cable industry are:

• Corning Incorporated 
• Sumitomo Electric Industries Ltd
• Prysmian Group
• Furukawa Electric
• CommScope Holding Company Inc.
• Fujikura Ltd.
• Yangtze Optical Fiber and Cable Joint Stock Ltd Co.
   

Fiber Optic Cable Industry News

• In January 2024, to improve the support for Silicon Photonics (SiPh) chip assembly, packaging, and quality assurance, PI increased the scope of its mechanical alignment solutions. Additionally, during Photonics West 2024, the business demonstrated new products to help customers throughout the world meet the alignment requirements for lenses, fiber optics, and optical integrated circuits. These products included air-bearing stages and entry-level systems.
   
• In January 2024, in partnership with Zayo, Nokia used the company's sixth-generation Photonic Service Engine super-coherent optics to set a record for an 800Gb/s speed transfer over 1866 kilometers over a live network using a single wavelength. The field trial proved to be successful in meeting the increasing need for high-capacity solutions because of the global shift towards digitalization.
   

The fiber optic cable market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments:

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Market, By Fiber Type

• Single-Mode Fiber    
• Multi-Mode Fiber                                                                                         

Market, By Deployment

• Underground
• Underwater
• Aerial             

Market, By Cable Type

• Ribbon Tube
• Loose Tube
• Tight Buffered
• Central Core
• Others                                                                        

 Market, By End-user Industry

• Telecommunication
• Power Utilities
• Defense/Military
• Industrial
• Medical
• Others                    

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA