The global fiber optic cable market size was US$ 8,305.2 million in 2021. The global fiber optic cable market is forecast to grow to US$ 26556.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 14.9% during the forecast period from 2022 to 2030.

Fiber optic cables are assembled with glass fibers placed inside an insulated casing. These cables are specifically designed for long-distance, high-performance data networking. Moreover, it offers higher bandwidth as compared to wired cables.

Factors Influencing the Market

The rising demand for high fiber count cables from the telecom operators will drive the fiber optic cable market forward. In addition, growing investments by cable manufacturers in research and development will surge the growth of the global fiber optic cable market during the study period. For instance, Prysmian became the first company in April 2020 to unveil a portfolio of cables having optical fibers with a diameter of 180m (micrometers). The demand for these cables is forecast to increase from FTTx and 5G networks.? Thus, such advancements in fiber optic cables are likely to gain traction during the forecast period, thereby propelling the overall fiber optic cable market forward.

The advent of 5G technology is expected to surge the demand for lower latency and enhanced capacity straight to networks. As a result, the high scalability, security, and ability to handle the vast amount of backhaul traffic will surge the demand for fiber optic cable over the next few years. Additionally, growing initiatives by government bodies for the 5G rollout will also contribute to the growth of the global fiber optic cable market.

COVID-19 Impact Analysis

The wake of the COVID-19 virus has globally affected the fiber optic cable market. It directly influenced production and demand by creating supply chain disruptions. In addition, the financial impact on economies further hampered the growth of the market. Companies like Fiberhome, YOFC, and Accelink, are based in China, which was the epicenter of the pandemic. Thus, it has negatively affected the global fiber optic cable market.

Regional Analysis

The Asia-Pacific fiber optic cable market is forecast to grow the fastest. China is forecast to dominate the regional market owing to the presence of prominent industry players like YOFC, Fiberhome, etc. Furthermore, the rapidly growing telecom industry and upsurging demand for fiber optic cable will contribute to the growth of the market. In addition, the growing number of data centers in India will benefit the fiber optic cable market in the coming years.? Increasing number of partnerships in the country will also escalate the growth of the market. For instance, Microsoft inked a pact with Reliance Jio in 2019 to establish cloud data setups in the country.

Competitors in the Market

Corning Inc
Finisar Corporation (II-VI Incorporated)
Sumitomo Electric Industries Ltd
Leoni AG
Prysmian Group
Coherent Inc.
Furukawa Electric Co. Ltd
LS Cable & System
Sterlite Technologies Ltd
Yangtze Optical Fibe
Other Prominent Players
Market Segmentation

The global fiber optic cable market segmentation focuses on Cable, Material, End-User, and Region.

By Cable Type Outlook

Single-mode Cable
Multi-mode Cable
By Material Type Outlook

Plastic Optical Fiber
Glass Optical Fiber
By End User Vertical Outlook

IT and Telecom
BFSI
Defense and Aerospace
Manufacturing
Other End-user Verticals
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America