Fiber Optic Cable Market 2023 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

Fiber optic cable Insights:

Fiber optic cable is a sort of cable that contains one or more optical fibers, used to transmit digital signals over long distances. These optical fibers are made from very thin strands of glass or plastic, which are capable of transmitting data using light rather than electrical signals. These cables are used for a good range of applications, including telecommunications, internet service providers (ISPs), cable television providers, and networking applications. They're often preferred over traditional copper cables because they're able to transmit data at much higher speeds over longer distances, and are more immune to interference and signal loss.

Fiber optic cables are available in various types and configurations, including single-mode and multimode fibers, and can be designed for specific applications like aerial, buried, or submarine installations. The various sorts of fiber optic cables have varying performance characteristics, like bandwidth, attenuation, and dispersion, which are important considerations when selecting the acceptable cable for a selected application.

Fiber optic cable Market

The global fiber optic cable market is predicted to grow significantly within the coming years, driven by increasing demand for high-speed internet connectivity, data center applications, and fiber-to-the-home (FTTH) installations. The worldwide market size was valued at $12.0 billion in 2022 and is projected to succeed at $30.0 billion by 2030, growing at a CAGR of 12.1% from 2023 to 2030. The FTTH segment is predicted to be the fastest-growing application segment, while the Asia-Pacific region is predicted to be the fastest-growing regional market. The market is dominated by a couple of key players like Corning Incorporated, Prysmian Group, Fujikura Ltd., CommScope Company, Inc., Sumitomo Electric Industries, Ltd., and Furukawa Electric Co., Ltd. These companies hold a big market share thanks to their strong product portfolios, technological capabilities, and strategic partnerships.

Fiber optic cable Market Growth Drivers:

Fiber optic cables provide higher data transmission rates compared to traditional copper cables, making them ideal for applications like streaming, video conferencing, and cloud computing which are increasing due to the increasing reliance on digital technologies and the growing number of internet users. The adoption of 5G networks is predicted to drive demand for fiber optic cables within the coming years as 5G networks require fiber optic cables to support the high-speed data transmission rates and low latency required for applications like autonomous vehicles and smart cities.

The growing adoption of cloud-based services is increasing demand for high-speed data transmission and storage, which is driving the adoption of fiber optic cables in data centers and other cloud-based applications. The demand for fiber-to-the-home (FTTH) installations is gaining popularity attributed to its ability to supply high-speed internet connectivity to homes and businesses which is predicted to drive demand for fiber optic cables.

Governments around the world are investing in the development of communication infrastructure, including fiber optic cables, to support economic processes and development driving the demand for fiber optic cables.

Fiber optic cable Market Segmentation:

1.       Material: Plastic, Glass

2.       Mode of Transmission: Single-Mode, Multi-Mode

3.       End-user: Telecommunications, Oil & Gas, Military & Aerospace, Healthcare, BFSI, Others (Datacenter, cable TV, automotive)

4.       Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Fiber Optic Cable Market Material Segment Review

Glass fiber optic cable held a market share of roughly 90.5% of the worldwide fiber optic cable market in 2022 and is predicted to grow at a CAGR of around 6.8% (2023-2030) driven primarily due to its high performance in terms of its high bandwidth and low signal attenuation, and sturdiness. Glass fibers are produced using silica, and have a high rigidity which can communicate information over significant distances without any loss of signal quality. Corning Inc., Prysmian Group, OFS Fitel, LLC, Nexans S.A., and Sterlite Technologies Ltd. are some major players in this segment.

The plastic fiber optic cable market is predicted to grow at a CAGR of around 7.3% during the forecast period from 2023 to 2030 driven due to its lower cost and easier installation process making it ideal for short-range applications like home networks and automotive applications. It is a more modern and less expensive alternative made up of polymer materials like polymethyl methacrylate (PMMA) and features a lower bandwidth than glass optical fiber.

Fiber Optic Cable Market Mode of Transmission Segment Review

Single-mode fiber optic cable uses one mode of light propagation to hold data signals over long distances. It has a small core diameter, typically 8-10 microns, and is employed in long-distance telecommunications, cable TV, and internet service provider (ISP) networks. As of 2022, the single-mode fiber optic cable market held a share of roughly 52.7% of the worldwide fiber optic cable market and is estimated to grow at a CAGR of around 7.2% (2023-2030). Corning Inc., Fujikura Ltd., Prysmian Group, and CommScope Inc. are some of the major players in the market.

Multi-mode fiber optic cable uses multiple modes of light propagation to hold data signals over shorter distances. It has a bigger core diameter, typically 50-62.5 microns, and is employed in local area networks (LANs), data centers, and video surveillance systems. Its market is predicted to grow at a CAGR of around 6.7% during the aforementioned period driven by the increasing demand for high-speed data transmission, the expansion of cloud-based services, and the increasing adoption of 5G networks and fiber-to-the-home (FTTH) installations.

Fiber Optic Cable Market End User Segment Review

The telecommunication segment held the most important share of roughly 62.5% of the worldwide fiber optic cable market due to the growing demand for high-speed internet and the adoption of 5G technology. The segment is predicted to grow at a CAGR of around 7.2% from 2023 to 2030. Corning Inc., Fujikura Ltd., Prysmian Group, and CommScope Inc. are some of the major players in the market.

Fiber optic cables are used in oil and gas pipelines to monitor the flow of oil and gas, detect leaks and other issues, and transmit data to control centers and its market is predicted to grow at a CAGR of around 7.5% from 2023 to 2030.  Prysmian Group, AFL Telecommunications LLC, OFS Fitel, LLC, and Nexans S.A. are some of the major players in the market.

Fiber optic cables also are widely utilized in the military and aerospace industries, where they're used to transmit data and communication signals in harsh environments like high altitudes and extreme temperatures. The segment is predicted to grow at a CAGR of around 7.8% during the aforementioned period with key players naming Fiber core Limited, Amphenol Aerospace, Glenair, Inc., Leoni AG, and TE Connectivity Ltd.

The healthcare segment driven by the increasing use of fiber optic cables in medical equipment and devices is predicted to grow at a CAGR of around 8.1% from 2023 to 2030. These cables are used to transmit high-quality images and data with high accuracy and reliability in applications such as endoscopy, surgical procedures, and medical imaging. BFSI (banking, financial services, insurance) and other (Datacenter, cable TV, automotive) segment is predicted to grow at a CAGR of around 7.6% from 2023 to 2030.Leoni AG, Mitsubishi Cable Industries, Ltd., Birla Furukawa Fiber Optics Limited, Fujikura Ltd., CommScope Inc., and AFL Telecommunications LLC as some key players in these segments. 

Fiber Optic Cable Market Regional Synopsis:

The North American region holds 40.0% of the global fiber optic cable market due to the presence of major market players, increasing investments in telecommunication infrastructure, and the adoption of advanced technologies. The market was valued at $5.7 billion in 2022 and is predicted to grow into a worth of $11.4 billion by 2030, growing at a CAGR of around 9.0% from 2023 to 2030. The USA and Canada with key players such as Corning Inc., OFS Fitel, LLC, CommScope Inc., AFL Telecommunications LLC, Prysmian Group, and Belden Inc. in the region, are the major contributors to the market expansion.

The European region is predicted to grow at a CAGR of 8.0% (2023-2030) due to the increasing investments in telecommunication infrastructure and the adoption of advanced technologies. Due to the rising number of Internet users and the adoption of cutting-edge technologies like 5G and the Internet of Things (IoT), the UK, Germany, and France are the primary contributors to the market's expansion. The market is dominated by several key players, including Prysmian Group, Nexans S.A., Corning Inc., and Leoni AG offering a wide range of fiber optic cables for various applications such as telecommunications, data centers, oil and gas, and aerospace and defense.

The Asia-Pacific region is predicted to grow at the very best rate of CAGR 12.0%due to the increasing demand for high-speed internet and the adoption of advanced technologies in countries like China, India, Japan, and South Korea. Due to its widespread use in data centers and telecommunications, single-mode fiber optic cables currently hold a significant market share. The telecom and server farm portions are the significant end-clients of fiber optic links in the Asia Pacific market. The market is dominated by several key players, including Fujikura Ltd., Sumitomo Electric Industries, Ltd., Furukawa Electric Co., Ltd., Hengtong Group Co., Ltd., and YOFC (Yangtze Optical Fiber and Cable Joint Stock Limited Company).

The Latin American region is predicted to grow at a moderate rate of CAGR 7.0% (2023-2030) due to the increasing investments in telecommunication infrastructure and the adoption of advanced technologies in countries like Brazil and Mexico. The Middle East & African region is expected to grow at a significant rate of CAGR 8.0% (2023-2030) due to the increasing investments in telecommunication infrastructure and therefore the adoption of advanced technologies in countries like Saudi Arabia, the UAE, and South Africa. Due to the growing demand for high-speed internet connectivity and the increasing adoption of advanced technologies, the market for fiber optic cables is also expanding significantly in Qatar, Oman, and Kuwait in the Middle East and Chile, Peru, and Colombia in Latin America.

Fiber optic cable Market Key Challenges:

The cost of putting in fiber optic cables is often significantly higher compared to traditional copper cables which may be a barrier to entry for a few businesses, especially small and medium-sized enterprises. The installation and maintenance of fiber optic cables require specialized skills that aren't readily available which further cause delays and increased costs. The manufacturing of fiber optic cables requires high-quality glass, which is in limited supply which may cause price volatility and provide chain disruptions.

Fiber optic cables are more fragile than traditional copper cables and are vulnerable to physical damage from construction, natural disasters, and other environmental factors leading to service interruptions and dear repairs.

Competition from the increasing adoption of wireless technologies like 5G may pose a threat to the expansion of the fiber optic cable market. As wireless networks become more advanced, some businesses may choose wireless solutions over fiber optic cables.

The fiber optic cable industry is subject to varied regulations and standards, which may be complex and difficult to navigate. Compliance with these regulations can increase the value of doing business and make legal challenges for companies.

Fiber optic cable Market Key Global Players:

The competitive landscape in the fiber optic cable market is influenced by various factors, including:

·         Companies got to constantly innovate and differentiate their products and services to remain before competitors within the market which incorporates developing new products, solutions, and services that address emerging threats and suit evolving regulatory requirements.

·         Companies with strong brand recognition and reputation are more likely to draw in and retain a customer which is particularly important in a market where customers are increasingly brand conscious and constant to specific brands for quality and reliability.

·         With the assistance of the latest markets, technologies, and expertise, businesses that acquire or merge with other businesses can boost their market competitiveness.

·         Organizations that have a proficient and compelling circulation can get their items to showcase quicker, more dependably, and at a lower cost, which can give them a whip hand over competitors.

·         Companies that provide excellent customer service, including timely responses to inquiries and personalized support, are more likely to draw in and retain customers. Pricing can be a significant thing and corporations that provide affordable prices while still providing high-quality services are more likely to be competitive.

Numerous players are vying for market share and investing in new technologies and product development to stay ahead of the curve in the market. Some of the key global players in the fiber optic cable market include:

·         AFL Global

·         Belden Inc.

·         Ciena Corporation

·         CommScope Inc.

·         Corning Incorporated

·         Finisar Corporation

·         Fujikura Ltd.

·         Furukawa Electric Co., Ltd.

·         General Cable Corporation

·         Jiangsu Zhongtian Technology Co., Ltd.

·         LS Cable & System Ltd.

·         Nexans SA

·         OFS Fitel, LLC

·         Pirelli & C. S.p.A.

·         Prysmian Group

·         Sterlite Technologies Limited

·         Sumitomo Electric Industries, Ltd.

·         YOFC (Yangtze Optical Fibre and Cable)

These companies are involved in the design, development, and manufacture of fiber optic cable and related products, and they have a robust presence within the global market. They compete with supported factors like technological innovation, product performance, pricing, customer service, distribution, and marketing. These companies also are involved in strategic partnerships and acquisitions to expand their product offerings, enhance their technological capabilities, and increase their market share.

The report on the fiber optic cable market covers the following aspects:

·         Market Overview: A general overview of the global fiber optic cable market, including its current size and growth projections for the future.

·         Market Segmentation: A breakdown of the market by material, mode of transmission, end-user, and geographic region.

·         Market Dynamics: An analysis of the key drivers, challenges, and trends affecting the growth of fiber optic cable: A comprehensive analysis of the leading players in the fiber optic cable market, including their market share, product offerings, and key strategies.

·         Regional Analysis: A detailed analysis of the fiber optic cable market by geographic region, including market size, growth projections, and key trends for each region.

·         Company Profiles: In-depth profiles of key players in the fiber optic cable market, including their business overview, product offerings, financial performance, and recent developments.

·         Market Forecast: Projections for the future growth of the fiber optic cable market, including market size, growth rate, and key trends for the next five to ten years.

 

Attributes	Details
Base Year	2022
Trend Period	2018 – 2032
Forecast Period	2023 – 2030
Pages	215
Material Segment	Glass, Plastic
Mode of Transmission Segment	Single-Mode, Multi-Mode
End User Segment	Telecommunications, Oil & Gas, Military & Aerospace, Healthcare, BFSI, Others (Datacenter, cable TV, automotive)
Company Profiles	Corning Incorporated, Prysmian Group, Fujikura Ltd., CommScope Company, Inc., Sumitomo Electric Industries, Ltd.,Furukawa Electric Co., Ltd, and Others
Edition	4th edition
Publication	April 2023