Global Fiber Optic Cables Market Forecast to Reach USD 22.56 Billion by 2030 with a CAGR of 9.94% - Fiber Optic Cable Market Growth Report

According to a new report by Maximize Market Research, the global Fiber Optic Cable Market was valued at USD 11.62 billion in 2023 and is projected to reach USD 22.56 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.94% during the 2024-2030 forecast period. The report cites rising deployment in telecommunications, surging internet usage, and technological innovations as key factors fueling this expansion. The Fiber Optic Cables Market is expected to almost double from its 2023 value by 2030, driven primarily by escalating demand in IT & telecommunications and expansion of 5G infrastructure.

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♦ Key Highlights:

Market size in 2023: USD 11.62 billion; projected to reach USD 22.56 billion by 2030 at a CAGR of 9.94%.

Leading application: IT & Telecommunication segment dominates, expected to maintain strong growth over the forecast period.

Largest regional market: Asia Pacific, accounting for over 38% revenue share in 2023.

Key drivers: Uptick in FTTx and deployment of 5G networks; high internet and broadband demand; technological improvements (e.g. wavelength division multiplexing, radio-over-fiber).

Restraints / challenges: Complexity in installation, especially in rural and underwater settings; competition from wireless technologies.

Top companies: Corning Inc.; W.L. Gore & Associates; Finisar; Hitachi Cable; Nexans; Prysmian; Furukawa Electric; Sterlite Technologies; Sumitomo Electric Industries, among others.

♦ Market Outlook

The Fiber Optic Cable Market is seeing strong momentum from telecommunications operators expanding fixed and mobile broadband networks. The growing need for higher bandwidth to support services such as video streaming, cloud computing, Internet of Things (IoT), and video on demand is increasing fiber optic cable deployment. Technological advancements-such as radio-over-fiber (ROF), all-optical networks (AON), and improved spectral efficiency through wavelength-division multiplexing (WDM)-are further enhancing the appeal of fiber over traditional alternatives.

Segment Insights
By Fiber Type: The glass fiber segment held a dominant share (~88.3%) in 2023, due to its superior transmission performance, range, and durability under challenging environments.

By Cable Type: Single-mode cable is expected to capture a large share (roughly 65%) by 2030, given its suitability for long-distance and high-bandwidth applications.

By Application: The IT & Telecommunication sector continues to be the largest and fastest-growing user of fiber optic cables, owing to rising internet user base, low cost communication equipment, and expansion of broadband and telecom infrastructure.

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♦ Regional Insights
Asia Pacific led globally in 2023 with a revenue share around 38.12%. The region benefits from strong governmental initiatives, growing network infrastructure investment, and surging demand for broadband connectivity. North America and Europe also show robust adoption, especially driven by 5G rollout and upgrades to backbone infrastructure. Challenges in regions include terrain, infrastructure cost, and deployment in rural or remote areas.

♦ Key Players & Competitive Landscape

Major players competing in the fiber optic cable market include Corning Inc., W.L. Gore & Associates, Finisar (II-VI Incorporated), Hitachi Cable, Nexans, Prysmian, Furukawa Electric, Sterlite Technologies, Sumitomo Electric Industries, among others. These companies are investing in product innovation, capacity expansion, and strategic partnerships to capture growing demand.

♦ Quote

"Fiber optic cables are becoming the backbone of modern digital infrastructure," said an industry analyst at Maximize Market Research. "With 5G deployment accelerating globally and the demand for high-speed, reliable broadband soaring, the fiber optic cable market is poised for sustained high growth through 2030-provided that challenges in deployment and cost are addressed."

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