The fiber optical cable market size has grown strongly in recent years. It will grow from $78.56 billion in 2023 to $84.85 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth observed in the historical period can be attributed to various factors, including investments in telecom infrastructure, the expansion of the internet, the digitalization of communication methods, the development of backbone infrastructure, and the trend towards globalization and increased interconnectedness.
The fiber optical cable market size is expected to see strong growth in the next few years. It will grow to $111.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. Forecasted growth is driven by increased data consumption, internet expansion in emerging markets, cloud and edge computing growth, smart cities' IoT adoption, and the surge in e-commerce and digital services. Major trends include 5G network expansion, IoT growth, data center expansion, rising demand for cloud computing, and increased focus on broadband internet access.
The growth of the fiber optic cable market is anticipated to be propelled by the increasing demand for higher bandwidth and faster speed connections. This surge is driven by both enterprises and individuals seeking elevated internet performance for activities such as video calls, gaming, online shopping, and social media usage. Fiber optic cables, which utilize light for data transmission instead of electricity, enable enhanced and accelerated internet connections capable of handling higher bandwidth. Notably, the rise in demand is underscored by the proliferation of 4K Ultra High Definition (UHD) TV consumption, requiring approximately 15-18 Mbps of data, three times more than standard HD TV. Projections indicate that by 2022, around 62% of connected flat panel TV sets will be 4K, emphasizing the escalating demand for higher bandwidth and increased video consumption as key drivers of the fiber optic cable market's growth.
The fiber optic cable market is expected to experience growth driven by significant investments in the defense industry. These investments entail allocating financial resources into companies, technologies, products, or projects within the defense or military sector. Fiber optic cables play a crucial role in military communication systems and surveillance equipment due to their high bandwidth and secure transmission capabilities. In April 2022, the Stockholm International Peace Research Institute reported a record-high global military spending of $2.1 trillion in 2021, with a 0.7% increase from the previous year. This substantial growth in defense industry investments is a key factor driving the expansion of the fiber optic cable market.
The growth of the fiber optic cable market is expected to face limitations due to the increasing adoption of wireless communication systems. The demand for wireless services has experienced exponential growth, driven by factors such as the emergence of technologies such as the Internet of Things (IoT). A report from Uswitch Limited in February 2023 highlighted a 3.8% increase in mobile connections in the UK, reaching 71.8 million in 2022. This surge in the adoption of wireless communication systems is identified as a hindrance to the fiber optic cable market's growth.
The growth of the fiber optic cable market is significantly influenced by technological advancements, with a key trend being the adoption of Wavelength Division Multiplexing (WDM). Wavelength Division Multiplexing is a cutting-edge technique that enhances the capacity of optical fibers by multiplexing numerous optical carrier signals through a single fiber channel, achieved by varying the wavelengths of laser lights. This innovation enables bidirectional communication within fiber cables, blending light signals from different optical fibers using a coupler at the WDM input. In 2023, the Asia-Pacific region is anticipated to be the fastest-growing market for WDMs, with leading manufacturers and suppliers, including ZG Technology and Optic Network Technology, situated in China.
Major players in the fiber optic cable market are strategically focusing on innovation to drive revenue growth. One notable advancement is the development of multi-core optical fiber and cable, which features multiple cores or channels within a single cable. Each core or channel operates independently, facilitating higher bandwidth and increased data transmission capacity. In October 2022, Sterlite Technologies Ltd. (STL), an India-based fiber optic cable manufacturing company, introduced India's first multi-core optical fiber and cable, branded as 'Multiverse.' This innovative fiber employs Space Division Multiplexing (SDM), achieving four times the transmission capacity compared to a standard optical fiber of the same diameter. The quad-core optical fiber, known as Multiverse, utilizes SDM by incorporating four cores within the same sheath, enabling simultaneous transmission of four separate data streams. This advancement has the potential to significantly increase the data transfer capacity into and out of data centers, demonstrating the commitment of major companies to pioneering solutions in the fiber optic cable market.
In August 2022, Clearfield Inc., a U.S.-based company specializing in the design, manufacturing, and distribution of fiber optic management solutions, acquired Nestor Cables Oy for an undisclosed sum. This strategic acquisition is set to expand Clearfield's operations, product line, and the capacity of its plants in Oulu and Keila. Despite the takeover, Nestor Cables will continue to operate under its own name, ensuring the continued availability of its well-established products and services. Nestor Cables Oy, based in Finland, is a manufacturer of fiber optic cables, connectivity accessories for fiber optic networks, and instrumentation and copper telecommunication cables.
Major companies operating in the fiber optical cable market report are Amazone Ltd., Rostselmash, China National Machinery Industry Corporation, John Deere, CNH Industrial N.V., Yanmar Co. Ltd., Kubota Corporation, Mahindra & Mahindra Limited, AGCO Corporation, McCormick Tractors International Ltd., GEA Group, CLAAS KGaA mbH, Valmont Industries Inc., Lovol Heavy Industry Co. Ltd., J.C. Bamford Excavators Ltd., Krone Gruppe, SDF Group, Alamo Group Inc., ISEKI & Co. Ltd., Kuhn Group S.A., Kioti & Co.Ltd., Escorts Group, Grimme Landmaschinenfabrik GmbH & Co. KG, Maschio Gaspardo S.p.A., Lemken GmbH & Co. KG, Kverneland Group ASA, Pöttinger Landtechnik GmbH, Wagner Systems Inc., Klever JSC, MaterMacc S.p.A., Hardi International A/S, Morris Industries Ltd., Kongskilde Industries A/S, Bellota Agrisolutions, APV-Technische Produkte GmbH, Horsch Maschinen GmbH, Krukowiak Pvt. Ltd., Mascar S.p.A., Fullwood JOZ. Asia-Pacific was the largest region in the fiber optic cable market in 2023. North America was the second-largest region in the global fiber optical cable market analysis. The regions covered in the fiber optical cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The main types of fiber optic cables are glass optical fiber and plastic optical fiber. Glass optical fibers typically comprise a pure glass core (SiO2) surrounded by cladding made of less pure glass or plastic. Primarily used in communication, sensors, and measurement systems, glass fibers excel in long-distance, high-speed communication due to their high transmissivity and low loss factor. They are also well-suited for corrosive environments or high-temperature settings. These cables include single-mode and multi-mode variations used across multiple sectors such as telecom, oil and gas, military and aerospace, BFSI, medical, imaging, railway, and other applications.
The fiber optic cable market research report is one of a series of new reports that provides fiber optic cable market statistics, including fiber optic cable industry global market size, regional shares, competitors with a fiber optic cable market share, detailed fiber optic cable market segments, market trends and opportunities, and any further data you may need to thrive in the fiber optic cable industry. This fiber optic cable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The countries covered in the fiber optical cable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fiber optic cable market consists of sales of quartz optical fiber cables, multi-component glass fiber cables, plastic optical fiber cables, step-index multimode fiber, graded index multimode fiber, and other fiber optic cables. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Fiber Optical Cable Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fiber optical cable market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for fiber optical cable? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Glass Optical Fiber; Plastic Optical Fiber
2) By Product Type: Single-mode Cable; Multi-mode Cable
3) By Application: Telecom; Oil & Gas; Military & Aerospace; BFSI; Medical; Imaging; Railway; Other Applications
Key Companies Mentioned: Amazone Ltd.; Rostselmash; China National Machinery Industry Corporation; John Deere; CNH Industrial N.V.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Amazone Ltd.
- Rostselmash
- China National Machinery Industry Corporation
- John Deere
- CNH Industrial N.V.
- Yanmar Co. Ltd.
- Kubota Corporation
- Mahindra & Mahindra Limited
- AGCO Corporation
- McCormick Tractors International Ltd.
- GEA Group
- CLAAS KGaA mbH
- Valmont Industries Inc.
- Lovol Heavy Industry Co. Ltd.
- J.C. Bamford Excavators Ltd.
- Krone Gruppe
- SDF Group
- Alamo Group Inc.
- ISEKI & Co. Ltd.
- Kuhn Group S.A.
- Kioti & Co.Ltd.
- Escorts Group
- Grimme Landmaschinenfabrik GmbH & Co. KG
- Maschio Gaspardo S.p.A.
- Lemken GmbH & Co. KG
- Kverneland Group ASA
- Pöttinger Landtechnik GmbH
- Wagner Systems Inc.
- Klever JSC
- MaterMacc S.p.A.
- Hardi International A/S
- Morris Industries Ltd.
- Kongskilde Industries A/S
- Bellota Agrisolutions
- APV-Technische Produkte GmbH
- Horsch Maschinen GmbH
- Krukowiak Pvt. Ltd.
- Mascar S.p.A.
- Fullwood JOZ
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 84.85 Billion |
| Forecasted Market Value ( USD | $ 111.97 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 39 |
