The global fiber optic cable market was valued at USD 8,316.2 million in 2020 to USD 21456.71 million by 2027, at a CAGR of 14.5% from 2021 to 2027. Fiber optic cables contain strands of glass fibers inside an insulated casing. They are designed for long-distance, high-performance data networking, and telecommunications. Compared to wired cables, fiber optic cables provide higher bandwidth and transmit data over longer distances. Fiber optic cables support the internet, cable television, and telephone systems. The cable consists of single-mode and multi-mode cable providing selected standards, such as IEC 60793-2- 10 for multi-mode and IEC 60793-2-50 for single-mode. Also, the indoor and outdoor cable requirement has a specific standard: IEC 60794-2 (indoor cables) and IEC 60794-3 (outdoor cables). With the presence of OS2 fiber, OM1 fiber, OM2 fiber, OM3 fiber, OM4 fiber, and OM5 fiber cable in an optical cable for varied optical applications, it extends its functionality as a medium for telecommunication and networking.
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While most fiber optics are installed to support long-distance connections between cities and countries, some residential internet providers have invested in extending their fiber installations to the suburban neighborhoods for direct access by households. A fiber optic cable is also less susceptible to interference. A copper network cable, on the other hand, requires shielding to protect it from electromagnetic interference. While this shielding helps, it is not enough to prevent interference when many cables are strung together in proximity to one another. Thus, the physical properties of fiber optic cables avoid most such problems.
Over recent years, it has been observed that fiber optic cables are steadily replacing copper wires as an appropriate means of communication signal transmission. They span the long distances between local phone systems and provide the backbone for many network systems. Other system users include cable television services, university campuses, office buildings, industrial plants, and electric utility companies.
Global Fiber Optic Cable Market Dynamics
Drivers: Increasing Demand in FTTX and Telecommunication Industry
FTTX stands for Fiber to the X (where X is a particular name/object), a type of broadband network architecture that uses a telecom provider’s network to deliver broadband connections to homes, businesses, and other establishments. The increasing demand for FTTx (Fiber to the x) can be attributed to the increasing penetration of these network architectures. FTTx includes FTTH, FTTP, FTTB, FTTN, and FTTC. In terms of FTTx, the market for fiber to the neighborhood or node (FTTN) or fiber to the antenna (FTTA) is poised to have substantial growth during the forecast period. This is primarily due to the rising implementation of these architectures across telecommunication networks and the growing usage of optical fiber in mobile backhaul for communication.
The 5G technology penetration, additionally, requires lower latency and enhanced capacity straight to networks. Thus, the scalability, security, and ability to handle the vast amount of backhaul traffic generated has made fiber optic cable the preferred option for 5G. Over the next few years, as the internet subscribers globally need higher internet bandwidth to access applications, such as feature-length movies, software as a service (SaaS), IoT, smart TV/internet TV, and video on demand (VoD), among others, the reliance of telecommunications industry on fiber optic cables is expected to increase. However, previously, the long-term evolution (LTE) led to the growth of internet video communication, which subsequently led to the need for higher bandwidth internet connectivity and thus drove the demand for the market studied.
Restraints: Rising Demand for Wireless Solutions and Complex Installation Process
The demand for greater connectivity in developing countries presents significant commercial opportunities for fiber optics manufacturing. However, factors like the increasing demand for wireless solutions and the complexity involved in installing fiber optic cables pose various operational challenges for the market studied. The growth of wireless solutions is spurred by the rapid technological developments that led to high-performance smartphones and new operating systems. Other factors that are expected to boost the growth of the adoption of wireless solutions include the tremendous increase in the number of applications requiring high bandwidth and speed, increasing inclination toward social media and e-commerce, and increasing globalization.
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Scope of the Report
The study categorizes the fiber optic cable market based on cable type, material type, end user vertical, and regions.
By Cable Type Outlook (Revenue, USD Million, 2017-2027)
- Single-mode Cable
- Multi-mode Cable
By Material Type Outlook (Revenue, USD Million, 2017-2027)
- Plastic Optical Fiber
- Glass Optical Fiber
By End User Vertical Outlook (Revenue, USD Million, 2017-2027)
- IT and Telecom
- Defense and Aerospace
- Other End-user Verticals
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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Multi-mode Cable, by Cable Type, is accounted for the largest market revenue share during the forecast period
Based on the cable type, the global fiber optic cable market has been segmented into single-mode cable and multi-mode cable. Multi-mode cable is accounted for the largest market revenue share of 58.1% in 2020, and it is also the fastest-growing segment with a CAGR of 15.1% during the forecast period 2021-2027.
Multi-mode cable fibers have a large core diameter (50 μm) with an abrupt or graded refractive index outer profile. This allows multiple light modes to be propagated. However, due to modal dispersion, the maximum length of a transmission link is limited, but the graded outer cladding allows longer transmission distances at higher bandwidths. Multimode fiber comes in a variety of specifications, ranging anywhere from two to dozens of cores. Common Fibre optic cable configurations for everyday networking uses such as workplace infrastructure include 2-core fiber optic cable, 8-core options, and even 24-core varieties. In short, the more cores a cable carries, the greater the amount of bandwidth potential and thus increased the ability to handle higher data throughput over shorter distances. Due to the large core and the possibility of a large numerical aperture, these fiber cables have a higher “light-gathering” capacity than single-mode fiber. These fiber cables allow the use of lower-cost electronics, such as vertical-cavity surface-emitting lasers (VCSELs) (850 nm and 1,300 nm wavelength) and light-emitting diodes (LEDs) as their larger core size simplifies connections.
Asia Pacific accounts for the highest CAGR during the forecast period in the fiber optic cable market
Based on region, the global fiber optic cable market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific has a growth rate of 14.8% globally during the forecast period 2021-2027. The Asia-Pacific fiber optic cable market is analyzed across Japan, China, India, Australia, and the rest of Asia Pacific. India is the fastest-growing country in the Asia Pacific, with a CAGR of 19.3%, during the forecast period 2021-2027.
India has one of the most important telecom sectors in the world. The booming digital market in the country and growing investment by telecom companies in the country, for higher speed, are expected to drive the market studied during the forecast period primarily. Growth in the market is driven by growing investments in optical fiber communication (OFC) network infrastructure by the Indian government to increase internet penetration across the country, which is in line with government initiatives like Smart Cities Vision and Digital India. Moreover, the increasing demand for OFC from the IT & telecom sector, rising number of mobile devices, increasing adoption of FTTH (Fiber to the Home) connectivity, and surging number of data centers is further anticipated to fuel the fiber optical cables market in India over the coming years. For instance, Cloud Companies are partnering with telecom operators to create edge data centers. (E.g. Microsoft has tied up with Reliance Jio & Airtel has teamed up with Google Cloud in India.). The Indian government aims to provide internet access throughout India, connecting 600,000 rural citizens to bridge the digital gap between cities and villages through a fiber optics network.
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Key Market Players
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 Fiber and Cable Joint Stock Ltd Co., Hitachi Cable America Inc., Hengtong Group Co. Ltd, Fujikura Ltd, Nexans SA, Commscope Inc., and Nestor Cables Ltd are some players in the global market of fiber optic cable.
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