Product Overview and Scope of Fiber Optic Cable Market
The growing need for high-speed internet and the quickening globalization of telecommunications infrastructure are driving substantial growth in the global fiber optic cable market. Since fiber optic cables offer unmatched bandwidth and speed over conventional copper connections, they are now indispensable parts of contemporary communication networks. Fiber optic cables use light to transport data at high speeds. Due to the growing demand for data and the expansion of internet services, this industry has experienced significant growth, particularly in emerging nations where both the public and private sectors are making significant investments to upgrade their telecommunications infrastructure.
Due to the extreme sensitivity of the optical fiber, it is normally covered with a high-strength, lightweight protective material like Kevlar. Two common types of fiber optics are:
• Single-mode fiber (SMF)
• Multi-mode fiber (MMF)
The extensive use of fiber-to-the-home (FTTH) services is one of the main drivers driving the growth of the fiber optic cable market. The increased demand for faster internet connections by users to facilitate bandwidth-intensive activities like cloud computing, online gaming, and video streaming has led to service providers installing fiber optic cables straight into residential and business buildings. Strong and dependable internet infrastructure is becoming increasingly necessary in areas like North America, Europe, and some parts of Asia-Pacific due to growing internet adoption rates and consumer desire for better digital experiences.
For instance, with 58% of homes and companies in the UK now having full fiber optic connectivity, the nation has made considerable progress in improving its digital infrastructure. Strong support for high-speed internet access is provided by this coverage, which is essential for the digital economy, telecom services, and the larger movement towards a connected future.
Fiber cable offers many advantages, the prime ones being higher bandwidth and reach. Optical fibre cables (OFC) are now preferred over old copper telecom cables as they provide high-speed broadband services. Optical fibre loses 3% of the signal over 100 meters of distance, while copper wires lose 94%. Additionally, optical fibres are more long-lasting as compared to copper wires, which are much more fragile. Copper wire can be tapped very easily, while optical fibres do not radiate signals that can be tapped. Optical fibre offers much lower latency (the amount of time required to perform data transmission) compared to copper wires.
Some of the applications of Fiber Optic Cable includes Construction and Infrastructure, Commercial, Residential, Telecom, Industrial, Energy and Power and Defense Industry. This usually includes materials such as Aluminum, Copper etc.
In conclusion, the growing demand for high-speed internet, the development of 5G networks, and the use of fiber optics in a variety of industries will continue to drive the global fiber optic cable market toward rapid growth in the years to come. Fiber optic cables will continue to be an essential part of the global communication infrastructure as long as technology advances and the need for data-intensive applications increases. The market appears to have a bright future because of ongoing investments and innovations that would guarantee its growth across various geographies and industries.
Global Fiber Optic Cable Revenue Market by Region (2019-2031)
|
Regions |
2019 |
2024 |
2031 |
Market Share (%) 2031 |
CAGR (%) (2024-2031) |
|
North America |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
|
South America |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
13.02 |
XX |
XX |
9.70% |
North America:
Based on region, North America region held the 31.54% of market share in 2023. North America has emerged as a leading player in the fiber optic cable market, driven by a rapid increase in fiber optic deployments across the region. This growth is primarily fueled by the surge in data-intensive activities such as video streaming, cloud computing, online gaming, and remote work, which all demand high-speed and reliable internet connections. According to a recent report from the Fiber Broadband Association, the United States saw a significant 13% growth in fiber-to-the-home (FTTH) installations in 2023, reaching 78 million homes, with fiber broadband now extending to nearly 69 million unique households.
Similarly, Canada has also experienced a notable increase in the demand for FTTH services. In 2023, the number of fiber passes in Canada grew by 12% to 12.1 million homes. This surge in FTTH deployments can be attributed to substantial government funding initiatives such as the Broadband Equity, Access, and Deployment (BEAD) Program, which allocates $42.45 billion to enhance high-speed internet access through infrastructure development and adoption programs across all states, Washington D.C., Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands. Other programs like the Rural Digital Opportunity Fund (RDOF) and the ReConnect program also contribute to this expansion.
Growing demand, various companies are making strategic investments and announcements to bolster fiber optic infrastructure. For instance, in March 2023, CommScope revealed plans to expand its fiber-optic cable production to accelerate broadband rollouts across the U.S., aiming to connect more communities and underserved areas. This expansion is expected to support FTTH deployments for approximately 500,000 homes annually. Similarly, Corning Incorporated is set to open a new cable manufacturing facility in Gilbert, Arizona, in 2024. This facility, being the westernmost U.S. manufacturing site for optical cable, will cater to the rising demand in the western United States and Canada.
As of 2022, the U.S. had approximately 91.9 million kilometers of fiber optic cable installed. The increasing demand for the Internet of Things (IoT) and connected devices, coupled with the widespread deployment of broadband networks such as Fiber to the Premise (FTTP), Fiber to the Building (FTTB), Fiber to the Home (FTTH), and Fiber to the Cabinet (FTTC), continues to drive the positive growth of fiber optics in the region.
The U.S. government is actively promoting and funding fiber infrastructure expansion, recognizing its critical role in economic development and global competitiveness. One notable initiative is the Connect America Fund (CAF), a federal program managed by the Federal Communications Commission (FCC) since 2019. This program has allocated billions of dollars to support the deployment of fiber optic networks in rural and underserved areas, working to bridge the digital divide and ensure that high-speed internet is accessible to all Americans.
Global Fiber Optic Cable Market Segmentation Analysis
By End Users
• Mobile
• Utilities
• FTTH
• Structured Cabling
• Others
Based on end users, Mobile segment held the largest market share of 33.97% in 2023. The number of mobile devices, including smartphones, tablets, and IoT devices, has been increasing rapidly. This surge in mobile device usage drives the need for robust and high-capacity mobile networks, which rely heavily on optical fiber infrastructure. The deployment of 5G networks is a significant driver. 5G technology requires a dense network of small cells connected by optical fiber to provide the necessary high bandwidth and low latency. The shift to 5G involves substantial upgrades to existing telecommunications infrastructure. Optical fiber cables are essential for connecting cell towers, small cells, and data centers to support 5G's high-speed data transmission capabilities.
The rapid proliferation of mobile devices including smartphones, tablets, and Internet of Things (IoT) devices has significantly contributed to this trend. According to a report by Ericsson, there were over 8.5 billion mobile subscriptions worldwide by the end of 2023, with smartphones alone accounting for more than 6.5 billion of these subscriptions. This surge in mobile device usage underscores the need for high-capacity mobile networks capable of supporting the growing data demands.
A pivotal driver behind this demand is the deployment of 5G technology, which has necessitated a substantial upgrade to existing telecommunications infrastructure. 5G networks require a dense array of small cells, each connected by high-speed optical fiber to provide the necessary bandwidth and low latency. For instance, in the United States, Verizon has been expanding its 5G network aggressively, with plans to install thousands of new small cells across major metropolitan areas. The deployment of these small cells is heavily supported by optical fiber, which connects these cells to data centers and network hubs, ensuring the high-speed, low-latency performance essential for 5G services.
In addition to 5G, the rapid growth in mobile data traffic—driven by data-intensive applications such as video streaming, online gaming, and social media—further fuels the need for advanced fiber optic networks. A study by Cisco estimates that global mobile data traffic grew by 30% in 2023, with video streaming accounting for more than 60% of this traffic. For example, companies like Netflix and YouTube, which deliver high-definition and 4K content, generate significant data loads that must be efficiently managed by optical fiber networks to provide seamless streaming experiences.
Mobile data traffic is growing exponentially due to the increased consumption of data-intensive applications like video streaming, online gaming, and social media. Optical fiber networks are crucial for handling this massive amount of data efficiently. To ensure high-quality mobile services, including voice, video, and data, telecom operators invest in optical fiber networks. These networks provide the necessary backhaul support for mobile traffic, ensuring seamless connectivity and superior user experience. Optical fiber offers unmatched speed and reliability compared to traditional copper or wireless backhaul solutions, making it the preferred choice for mobile network operators.
Market Drivers
Increased internet usage and data traffic is driving the demand for Fiber Optic Cable market growth
The fiber optic cable market is witnessing a significant surge, primarily driven by the increasing internet usage and the exponential growth in data traffic. For instance, an estimate of 322,563,519 people, or about 95% of the US population, have access to the internet as of 2024, according to a U.S. Census. Moreover, The US has seen a sharp rise in the number of mobile internet users in recent years, with 295 million expected by 2023. Mobile devices accounted for over 45% of the origin of online traffic in the United States. The need for fast, dependable, and effective internet access has increased as digital transformation quickens in many different industries. The growth of fiber optic cable infrastructure, which is recognized for its exceptional bandwidth capabilities and low signal deterioration over extended distances, is being fuelled by this need. Telecommunications businesses employ fiber optic cable to send cable television signals, Internet traffic, and phone signals. In addition, it finds application in the government, commercial, industrial, medical, and defense sectors.
Some of the advantages include:
• Faster transmission speeds
• Higher bandwidth
• Greater transmission distances
• Less interference
In the United States, 97.1 percent of people used the internet as of 2024, up from 87% in the previous year. In 2022, there were around 299 million internet users in the United States, making it one of the largest online markets in the world. The surge in remote working, online education, streaming services, and cloud computing has also significantly contributed to the heightened internet usage. These applications require substantial bandwidth and stable connections; which optical fiber networks can provide effectively. Moreover, as businesses continue to digitize their operations and shift towards cloud-based solutions, the reliance on data centers and high-speed internet connections has intensified. This trend is prompting service providers to invest heavily in optical fiber infrastructure to enhance network capacity and reliability.
In conclusion, the main factors propelling the expansion of the fiber optic cable market are rising internet usage and growing data traffic. The importance of optical fiber cables is highlighted by the changing digital landscape, which is marked by the growing use of high-bandwidth applications and the demand for dependable and effective communication networks. Robust optical fiber infrastructure will become increasingly important as more industries embrace digitalization and the integration of cutting-edge technology. It will play a key role in the future of data transfer and telecommunications.
Corning Incorporated Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
Corning Incorporated |
|
2 |
Website |
www.corning.com |
|
3 |
Established Date |
1851 |
|
4 |
Headquartered |
United States |
|
5 |
Market Position/ History |
In 1851, Amory Houghton Sr. opens a small glass company, laying the foundation for Corning Incorporated. In 1879, Corning helped make electric light a reality by developing a glass encasement for Thomas Edison’s carbon filament. In 1934, Corning synthesized the first silicone resins and creates a new category of materials with broad applications, including adhesives, sealants, and lubricants. In 1935, Corning produced the world’s largest piece of glass to date for the groundbreaking Hale Telescope. In 1961, Corning helped propel the first Americans safely into space by supplying heat-resistant windows for Project Mercury. Corning goes on to create window glass for every manned American spacecraft and the International Space Station. In 1970, Corning invented the first low-loss optical fiber and ushers in a communications revolution. The Company’s name was changed from Corning Glass Works to Corning Incorporated on April 28, 1989. In the year 2000, Corning developed an extremely low-density glass composition that takes LCDs to places previously unimagined. Combining exceptionally light weight with high resolution, the EAGLE glass product line helps drive the proliferation of LCD TVs. Further, in the year 2004, Corning simplified fiber-to-the-home installations with the introduction of OptiTap connectors, laying the foundation for the Internet of Things. In 2007, Corning introduces ClearCurve, an industry-changing fiber that can bend at 90-degree angles with minimal signal loss, enabling optical connections in challenging environments. In 2012, Corning developed a glass that’s ultrathin, lightweight, and flexible. Slimmer than a dollar bill, Willow Glass enables new applications in electronics and architecture. Followed by in 2013, Corning created the world’s first antimicrobial cover glass, opening new possibilities for glass surfaces in a variety of microbe-sensitive environments. In 2015, Corning supplied high precision mirrors for NASA’s New Horizons mission that help capture the first-ever detailed images of Pluto. In 2016, Corning introduced a range of gasoline particulate filters to reduce emissions from gasoline-powered passenger vehicles and simultaneously Corning created Gorilla Glass SR+ to arm wearable technologies with exceptional scratch resistance. In 2017, Corning developed revolutionary pharmaceutical glass packaging. Valor Glass helps protect patients and improve pharmaceutical manufacturing by dramatically reducing particle contamination, breaks, and cracks. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
124 plants in 15 countries |
|
8 |
Ticker |
NYSE: GLW |
|
9 |
No. of Employees |
57,500 employees (As of December 2022) |
|
10 |
Competitors |
|
|
11 |
CEO |
Wendell P. Weeks |
|
12 |
Ownership Type |
Public |
|
13 |
Contact Information |
One Riverfront Plaza, Corning, NY 14831 USA Tel: +1 607.974.9000 |
Business Segment/ Overview:
Corning Incorporated is one of the significant companies and innovators in materials science. The company's hardware and equipment for enterprise network applications include cable assemblies, fiber-optic hardware, fiber-optic connectors, optical components and couplers, closures and other accessories. The company's optical fiber manufacturing facilities are in North Carolina, China, India and a new facility in Poland. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products. Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's well-known products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-Tart communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks. The company has its specialties in Display Technologies, Environmental Technologies, Telecommunications, and Life Sciences & Specialty Materials.
Fiber Optic Cable Product Types Specification
|
Product |
Product Description |
|
Fiber Optic Products |
Corning ClearCurve Multimode Fibers
Corning InfiniCor 300 Optical Fiber:
Corning ClearCurve Single-mode Bend-Insensitive Optical Fibers:
Corning SMF-28e+ Optical Fiber:
Other
|
|
Copper Cables |
Indoor Solid Cables Everon Copper Datacom U/UTP 450/23: It is designed up to 450MHz and its transmission characteristics exceed Category 6 specifications according to EN50288-6-1 IEC 61156-5. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this highend copper cable. The cable has a streamlined construction and low weight. Everon Copper Datacom S/FTP 1000/23s: It is designed up to 1200MHz and its transmission characteristics exceed Category 7A specifications according to EN50288-9-1 IEC 61156-5. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this highend copper cable. Due to the very low delay skew between the pairs these Everon cables are especially suitable for Gigabit Other
Indoor Stranded Cables Everon Copper Datacom U/UTP 450/24: It is designed up to 450MHz and its transmission characteristics exceed Category 6 specifications according to EN50288-6-1 IEC 61156-5. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this highend copper cable. The cable has a streamlined construction and low weight. Everon Copper Datacom F/FTP 550/23: It is designed up to 550MHz and its transmission characteristics exceed Category 6A specifications according to EN50288-10-1 IEC 61156-5. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this high-end copper cable. Other:
Outdoor Cables Everon Copper Datacom F/UTP 300/24: It is designed up to 300MHz and its transmission characteristics exceed Category 5e specifications according to EN50288-2-1 IEC 61156-5. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this highend copper cable. Everon Copper Datacom S/FTP 1200/22: Outdoor and Tunnel Cable is designed up to 1400MHz and its transmission characteristics exceed Category 7A+ specifications according to EN50288-9-1 IEC 61156-5 and IEC61156-7. High system margins for the complete link according to the last version of ISO/IEC 11801 and EN 50173 (Series) will be achieved by using corresponding hardware together with this high-end copper cable. Other
|
Recent Developments:
|
Year |
Latest News |
|
August 2024 |
Corning Incorporated and Lumen Technologies announced an agreement for a substantial supply of next-generation optical cable. This fiber-dense cable will more than double Lumen's U.S. intercity fiber miles, offering significant capacity to major cloud data centers racing to stay ahead of AI workloads and high bandwidth applications fueled by massive amounts of data. This will equip Lumen to meet the?network infrastructure needs of major data center operators for years to come, including Microsoft, which announced that it's investing with Lumen to support the rising demand on its data centers. |
Business Strategy
Corning Incorporated has a significant focus on adhering to its strategies so as to achieve overall growth. For instance, the company has introduced its 2020-to-2023 Strategy & Growth Framework with a focus on capturing opportunities to sell more Corning content through each of its Market-Access Platforms. The company's goals included core sales growth at a compound annual growth rate of 6 to 8 percent. From 2019, when the company first introduced the new framework, through 2022, it grew core sales at a greater than 8 percent CAGR, even in the face of ongoing external challenges. Over the past four years, the company has advanced significant strategic initiatives, including fiber-to-the-home and data center solutions in Optical Communications, delivering on its gasoline particulate filter content opportunity in Environmental Technologies, introducing Ceramic Shield with Apple in Specialty Materials and ramping its Gen 10.5 plants to extend our leadership in Display Technologies. In addition, the company made major progress on its emerging innovations; it gained significant traction in its Automotive Glass Solutions business; and its pharmaceutical packaging portfolio played a central role in combatting the global pandemic and supported the delivery of more than 8 billion COVID-19 doses. These achievements have helped extend its leadership positions across its markets and pave the way for future growth.
Management Change
In June 2023, Corning Incorporated’s Board of Directors announced that Thomas D. French, former senior partner and current senior partner emeritus with McKinsey & Company, has been appointed to Corning’s Board of Directors, effective June 20, 2023. Mr. French serves on the board’s Audit Committee as well as its Corporate Responsibility and Sustainability Committee. He holds office until Corning’s annual meeting of shareholders in the spring of 2024, at which time he will stand for election to a one-year term. His appointment brings the number of Corning directors to 16.
S.W.O.T Analysis
Strength
- Corning Incorporated is versatile and synergistic, which allows Corning to evolve to meet changing market needs, while also helping customers capture new opportunities in dynamic industries.
- The company has a strong market presence. For instance, the company's markets include optical communications, mobile consumer electronics, display technology, automotive emissions control, laboratory products and other glass products.
- The company has its own manufacturing facilities at multiple locations. For instance, Corning Incorporated manufactures its products at 124 plants in 15 countries.
Weakness
- The company has a limited product portfolio of optical glass. The limited optical glass portfolio can affect the customer base of the company.
Opportunity
- The increasing demand for optical glass in tableware, drinking vessels, ornamental & decorative, and other applications. Thus, the company has an opportunity to expand its optical glass product portfolio.
Threats
- The company operates in rapidly changing economic, political and technological environments that present numerous risks. Its operations and financial results are subject to risks and uncertainties. This can adversely affect its business, financial condition, results of operations, cash flows, its ability to successfully execute its strategy and the trading price of its common stock or debt.
