The global fiber optic cable market is projected to reach $32. 5 billion by 2030, and demand is shifting fast as data centers take 35% of fiber demand in 2023. While APAC leads with a 58% share in. DUBLIN, Jan. 5% between 2023 and 2028, according to a new report. The explosion of data traffic from various sources as well as demand for applications such as higher-quality video and virtual. Recent Developments in the Fiber Optic Cable Market • In November 2023, China, in collaboration with Tsinghua University, China Mobile, Huawei Technologies, and Cernet Corporation, launched the world's fastest internet connectivity services.