Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Fiber Optic Cable Market Report (2023-2028)," the market is estimated at USD 11.63 billion in 2023. It is expected to register a CAGR of 9.24% during the forecast period.
Fiber optic technology uses flexible, transparent glass or plastic fibers to transmit data through light pulses, providing better security, reliability, and bandwidth than copper cables. Fiber optic cables offer infinite bandwidth, high speed, low attenuation, immunity to electromagnetic interference, high reliability, and enhanced security, making them preferred over copper cables. Fiber optic technology is considered "future-proof" and is expected to outlast the next generation of devices and industrial requirements, making its future promising.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 11.63 billion |
| Market Size (2028) | USD 18.09 billion |
| CAGR (2023-2028) | 9.24% |
| Study Period | 2018-2028 |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The evolution of 5G networks and fiber optic infrastructure. |
| Government programs supporting 5G deployment. |
Who are the Top Companies in the Global Fiber Optic Cable Market?
The market is highly competitive. There are several international players and numerous regional firms. The barriers to entry for new players are moderate, which has led to an influx of regional companies.
The significant players in the global fiber optic cable market are,
- Corning Inc.
- Sumitomo Electric Industries Ltd
- Prysmian Group
- Furukawa Electric
- CommScope Holding Company Inc.
- Coherent Corporation
- Finolex Cables Limited
- Proterial Cable America Inc. (Proterial Ltd)
- Sterlite Technologies
- Yangtze Optical Fiber and Cable Joint Stock Ltd Co.
Other Reports That Might Be of Your Interest:
- Fiber Optic Test Equipment Market Report - The fiber optic test equipment market size is estimated at USD 1.03 billion in 2023. It is expected to reach USD 1.41 billion by 2028, at a CAGR of 6.48% during the forecast period (2023-2028).
- Submarine Optical Fiber Cable Market Report - The submarine optical fiber cable market size is estimated at USD 3.63 billion in 2023. It is expected to reach USD 6.42 billion by 2028, at a CAGR of 12.10% during the forecast period (2023-2028).
Key Highlights from the Global Fiber Optic Cable Market Report:
Growth of the Telecommunications Sector
- Fiber optic cables are crucial in modern telecommunication infrastructure to meet aggressive bandwidth demands from the internet, e-commerce, computer networks, and multimedia.
- Fiber optics enable high-speed internet connections, video conferencing, online gaming, cloud computing, and support for advanced technologies like 5G, big data, and IoT.
- The growing number of internet users and the demand for high-speed internet are increasing the need for fiber optic cables.
Fast-paced Growth in North America
- North America is witnessing a significant increase in fiber optic deployment, particularly in the United States. US fiber-to-the-home (FTTH) deployments are expected to set a record, aided by significant government funding efforts.
- The US Department of Agriculture (USDA) has also invested in providing high-speed internet access to rural areas, benefiting thousands of residents and businesses.
- In Canada, Canadian Fiber Optics Corp. plans to extend its fiber-to-the-home (FTTH) services, offering the fastest residential internet rates available in rural Canada under the Northern Lights Fiber (NLF) brand.
What are the Latest Developments in the Global Fiber Optic Cable Market?
- In January 2023, Prysmian Group introduced its Sirocco HD micro duct cables with an 864-fiber version that boasts a fiber density of 9.1 fibers per square millimeter and can be installed in a 13-mm duct. The cable's diameter is 11.0 mm, making it possible to squeeze 864 fibers into it.
- In September 2022, Google launched Equiano, a subsea cable that connects Western Europe to South Africa. The cable spans over 15,000km, making it Africa's highest-capacity subsea cable.
Mordor Intelligence has Segmented the Global Fiber Optic Cable Market Based on End-user Industry and Geography.
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Telecommunication
- Power Utilities
- Defense/Military
- Industrial
- Medical
- Other End-User Industry
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- Indonesia
- Thailand
- Vietnam
- Singapore
- Philippines
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Fiber Optic Cable Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United States and European Fiber Optic Cable Market Report - The United States and Europe fiber optic cable market size is expected to grow from USD 3.45 billion in 2023 to USD 5.47 billion by 2028, at a CAGR of 9.66% during the forecast period (2023-2028).
- Optical Modulators Market Report - The optical modulator market size is expected to grow from USD 5.02 billion in 2023 to USD 10.76 billion by 2028, at a CAGR of 16.45% during the forecast period (2023-2028).
- Co-packaged Optics Market Report - The co-packaged optics market is anticipated to register a CAGR of 75.20% over the next five years.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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