The Fiber Optic Cable Market is to Touch $27.6 Billion by 2030; Fiber Adoption for 5G Infrastructure and Increasing applications in the medical and aerospace fields propels market growth.

The Fiber Optic Cable Market size is estimated to reach $27.6 Billion by 2030, growing at a CAGR of 12.5% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Fiber Optic Cable Market – By Fiber Optic Type (Plastic, Glass) By Components ( Core, Cladding, Strengthening Fibers, Cable Jacket, Coating and Others), By Type (Single Mode, Multi-Mode), By Application (Sensing, Wiring, Transmission, Light Guide, Imaging and Others), By End Use Industry (Data Storage, Automotive, Aerospace and Defense, Telecommunications, Industrial, Medical, Networking, Enterprise, Broadcast/CATV and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” Fiber Adoption for 5G Infrastructure and Increasing applications in the medical and aerospace fields are fueling the growth of the Fiber Optic Cable industry during the forecast period.

As of 2020, North America led the global fiber optic cable market, largely due to the presence of major companies such as Corning, Prysmian Group, AFL Telecom, Fitel, and LS Cable and System. The growing demand for high-speed internet, both at home and on mobile devices, has fueled the expansion of these companies. This has driven increased demand from wireless carriers and cable providers for fiber optic cables made from materials like polyimide and acrylate polymers. The growth in fiber-optic cable networks has enhanced the speed and capacity of data transmission, allowing for faster and larger data transfers. As a result, industry revenue is expected to continue its upward trend. In addition, the telecommunications sector in the Middle East and Africa is anticipated to boost the fiber optic cable market, with fiber optic access lines in these regions projected to grow at a compound annual growth rate (CAGR) of 19% from 2024 to 2030, significantly driving market expansion.

With advancements in fiber optic technology, its applications are expanding across various industries. In healthcare, fiber optics made from polymide and acrylate polymers have long been used for tasks like illumination, image transfer, and laser signal delivery. Looking ahead, emerging technologies—such as those aiding in wound healing and tumor treatments—show promise for further market expansion. In the aerospace industry, fiber optics are increasingly seen as a way to enhance connectivity on commercial flights. This technology can improve in-flight entertainment and passenger Wi-Fi without disrupting the aircraft's complex electrical systems. Fiber optic cables offer far greater bandwidth, speed, and security compared to traditional copper cables. As technology continues to evolve and new uses for fiber optics are discovered, the market is expected to grow significantly, driven by these expanding applications.

Optical fiber and fiber-optic cabling are currently the most effective means for high-speed, long-distance data transmission, as proven by their use in the world’s most demanding networks. Their role goes beyond just transmitting data, with fiber-optic cabling becoming a key component in building 5G infrastructure as telecom systems are revamped globally. As wireless and wireline networks adapt to 5G, FirstNet, and enhanced public safety networks, RF Radio Access Network (RAN) technicians and administrators face new challenges in deploying and testing both wireline and fiber equipment. The advent of 5G is set to transform the communications industry by providing seamless digital connectivity. To achieve this, an ultra-flexible network is required to support key applications like enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communications (URLLC), all on a single infrastructure. Optical fiber is essential for making this transformation possible. The small cell model central to 5G, which brings connectivity closer to the user, relies heavily on a fiber-optic backbone to ensure a smooth internet experience. The high bandwidth, low latency, and speed demands of 5G can only be met by fiber technology, which supports increased mobile backhaul and small cell deployment. Given the future demands of 5G in terms of data rates, latency, and reliability, optical fiber stands out as the most scalable and future-proof medium. It is also cost-efficient in the long term, as it eliminates the need for active network components between the control center and mobile base stations.

• In September 2023, HFCL Limited launched its Intermittently Bonded Ribbon (IBR) Cables in the UK, a significant development in the fiber optic market. These cables, featuring individual ribbons of 12 optical fibers bonded at intervals, offer twice the fiber packing density of traditional cables in the same volume. They enable higher fiber counts in small ducts, ideal for congested areas. The IBR Cables also boast high productivity mass fusion splicing for faster installation and restoration. This move aligns with HFCL's global expansion, aiming to accelerate 5G and FTTP adoption in the UK and meet growing bandwidth needs.  

• In April 2023, STL, a leading optical and digital solutions company, announced the development of its slimmest fiber yet - a 180-micron optical fiber. This fiber enables the smallest diameters in cables with the highest fiber densities. STL showcased a next-generation microcable with 288 fibers capable of being deployed in 8 mm ducts at the ongoing FTTH Conference 2023 in Madrid, Spain. These developments indicate recent innovations by STL in the fiber optic market.

Key companies profiled in the Fiber Optic Cable Market are Optical Cable Corporatio,n Sterlite Technologies Limited, Fujikura Limited, Finolex Cable Limited,Ofs Fitel, Llc, Prysmian Spa, Corning Incorporated, Sumitomo Electric Industries, Ltd., Yangtze Optical Fibre and Cable Joint Stock Limited Company, Birla Furukawa Fibre Optics and others.