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Fiber Optic Cables Market By Fiber Type (Glass, Plastic) By Cable Type (Single-mode, Multi-mode) By Deployment (Underground, Underwater, Aerial) By Application (Communication, Non-communication) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

How is 5G Network Presenting Growth Opportunities for Fiber Optic Cables?

The introduction of the 5G network will benefit the expansion of the fiber optic cable business. A fast internet connection is necessary for many industries. 5G network infrastructure construction is now taking place in numerous nations. Telecom leaders rely on fiber-optic cable to meet the high demand for 5G connectivity. The market for fiber optic cables is anticipated to increase due to all these reasons.

fiber-optic-cables-market

What is the Market Size of Fiber Optic Cables in terms of value?

Global Fiber Optic Cables Market is projected to increase at a significant CAGR of 14.2% in the coming years. In 2021, the global fiber optic cables market was valued at USD 8927.4 Million and projected to reach USD 19802.5 million by 2028. The demand for fiber optic cables is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 10875.1 million during the forecast period between 2022 and 2028.

Interesting Facts about the Fiber Optic Cables Industry

  • The top 5 countries for fiber optic cable exports are Japan, China, South Korea, the United States, and Taiwan.
  • The top 5 importers of fiber optic cables are China, the United States, Japan, Hong Kong, and Germany.
  • Fiber optic cable will be used in a wide range of end-use sectors, which will boost the expansion of the global market. The greater reach and high bandwidth connections of fiber optic cable are expected to impact the market's growth structure significantly.
  • Expanding wireless communication systems and high startup costs could impede the growth of the global fiber optic cable market throughout the anticipated timeframe. 
  • The Asia-Pacific region dominated the global market for fiber optic cables in 2021, both in terms of volume and value. It is anticipated that this dominance will persist throughout the forecast period.
  • The fiber optics market was dominated by the communication application segment in 2021, which is anticipated to continue during the forecast period.

Who are the Top 10 players/companies in the fiber optic cables market regarding value and volume?

The prominent companies in the global fiber optic cable market in terms of value and volume include Corning Incorporated (U.S.), Prysmian Group (Italy), LEONI (Germany), Sumitomo Electric Industries, Ltd. (Japan), Yangtze Optical Fiber and Cable Joint Stock Limited Company (China), Hengtong Group Co., Ltd. (China), Fujikura Ltd. (Japan), L.S. Cable & System Ltd. (South Korea), Furukawa Electric Co., Ltd. (Japan), and others. These leading players focus on new product advancements and technological innovation to increase their fiber optic cable output and take competitive market share internationally. Additionally, several regional and national players are investing significantly to diversify their product offerings and increase sales. For instance, Corning Incorporated (U.S.) announced in May 2022 the addition of MiniXtend HD cables for 12 to 72 fibers and MiniXtend XD cables for 192 and 288 fibers to its MiniXtend cable range. High density, duct space efficiency, and a smaller carbon footprint are all features of the new MiniXtend HD and MiniXtend XD cables. Additionally, Prysmian Group (Italy) extended its partnership agreement with Openreach for an additional three years in October 2021. The new Full Fiber broadband development plan from Openreach, which is essential to the U.K. government's goal of delivering "gigabit-capable broadband" to 85% of the country by 2025, will be supported by Prysmian Group's innovation and expertise.

Who are the Top 10 Countries in the Fiber Optic Cables Market?

The major global fiber optic cable market countries are China, India, Japan, South Korea, Australia, the U.S., Canada, the U.K., Germany, and Russia. Because China is expected to install most of the single-mode optical cables in the next few years, China is predicted to hold most of the market share. Additionally, the widespread installation of 5G base stations throughout China will promote the local market's expansion. 

Which is the Key Application Area in the Fiber Optic Cables Market?

The fiber optics market was dominated by the communication application segment in 2021, which is anticipated to continue over the forecast period. The significant market share is mainly related to the telecom industry's growing deployment of fiber optics. Fiber optics are used in the telecom industry for many things, including point-to-point communication, entertainment, content delivery networks, access to Internet-enabled services, vital communication, and news and infotainment. Its expansion is due to several factors, including an increase in Internet users, low-cost services provided by service providers; the availability of affordable communication equipment; and an increase in subscribers for various wireless and fixed-point communication devices.

What are the Major Driving Factors for Fiber Optic Cables Market?

According to market analysts, the key driver of the worldwide fiber optic cables market is an increase in internet use, which will be followed by a rise in the use of fiber to the home (FTTH) connections. Fiber is the best medium for transferring significant volumes of data across long distances. The ability of fiber optic cables to transfer enormous volumes of data at extremely rapid rates has made Internet service providers one of the most significant users of fiber optic cables. Additionally, it is projected that the rising demand in the data centers and telecommunications industry will accelerate the growth possibilities of the fiber optic cable market. The market for fiber optic cable will have a wide range of growth prospects due to the demand for better connections in both the residential and commercial sectors. The use of fiber optic cable supports the transportation of a sizable amount of digital content and boosts the market.

What are the Major Restraints for Fiber Optic Cables Market?

One of the main inhibitors for fiber optics manufacturers is the rising usage of wireless communication solutions instead of cable ones. In wireless communications systems, a microwave radio spectrum sends data from one place to another. The receiving devices, antenna systems, and dishes receive the data from one central point. Radiofrequency (R.F.) and fiber space optics (FSO) are the leading wireless communication technologies. Both RF and FSO technologies offer non-interference with one another and cost less to install. In comparison to fiber optics technology, these solutions boost communication application efficiency. Furthermore, wireless communication systems are outpacing fiber optics in applications that require a faster data transfer rate, thereby limiting their use.

Which Region Dominated the World Fiber Optic Cables Market?

During the projected period, Asia-Pacific is anticipated to account for the highest share of the fiber optics market. The substantial market share is attributed to the region's growing number of regional government efforts to boost fiber optic deployment. For instance, the Indian Finance Ministry said in February 2022 that the BharatNet broadband network is anticipated to be operational by 2025. The government's ambitious ambition to provide internet service to over 361,000 villages across 16 states is known as the BharatNet broadband network. This agreement will use a public-private partnership to lay the optical cable (PPP). One of the key application sectors for the Asia-Pacific fiber optics market is telecom. The market expansion in China, South Korea, and Japan will be supported by the widespread deployment of 5G base stations. 

However, the market for fiber optic cable in the region is anticipated to grow due to the rise in telecommunication applications in the U.S. and high-speed data transfer across North America. In addition, industrialization is spreading to more and more places around the world. The introduction of Industry 4.0 has accelerated the growth of industrial automation. This element would act as the market's most effective driver of profitable expansion. Manufacturers are providing customized fiber solutions for the expanding end-use industry landscape. Research and development initiatives are also picking up steam, further supporting the fiber optic cable market's upward trajectory. The need for optical cable is expanding due to the increased demand for fiber optic cable in the I.T. & communication, aerospace, and defense industries. The market in Europe is anticipated to grow significantly between 2020 and 2030.

Segmentation of Global Fiber Optic Cables Market -

Global Fiber Optic Cables Market – By Fiber Type

  • Glass
  • Plastic

 Global Fiber Optic Cables Market – By Cable Type

  • Single-mode
  • Multi-mode

Global Fiber Optic Cables Market – By Deployment

  • Underground
  • Underwater
  • Aerial

 Global Fiber Optic Cables Market – By Application

  • Communication
  • Non-communication

Frequently asked questions about the global Fiber Optic Cables industry

COVID-19 has caused a rise in interest in work-from-home jobs and online learning programs. This sharp rise has accelerated the rollout of 5G and internet communication infrastructure across the globe. Following the epidemic, the widespread deployment of 5G infrastructure will create new, high-growth market possibilities for fiber optics manufacturers.

In terms of volume and value, Asia Pacific held the most significant proportion of the global market for fiber optic cables.

Fiber optic cable will be used in a wide range of end-use sectors, which will boost the expansion of the global market. The greater reach and high bandwidth connections of fiber optic cable are expected to impact the market's growth structure significantly.

The glass sector is anticipated to rule the fiber optics market during the anticipated period. Additionally, the segment is expected to expand faster during the projection period.

The fiber optics market was dominated by the communication application segment in 2021, and this trend is anticipated to continue during the forecast period.

Fiber Optic Cables Market Scope

Report Attribute Details
Market Value in 2021 USD 19802.5 million
Market Value in 2028 USD 8927.4 Million
CAGR 14.2%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  Jul 2022
Category:  Technology & Media
Report ID:   59002
Report Format:   PDF
Pages:   180
Rating:    4.6 (70)
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