Selbyville, Delaware, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Fiber Optic Cable Market was valued at USD 11.9 billion in 2023 and is projected to be worth USD 25 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
As global digitization accelerates, the need for faster, more reliable internet connections intensifies. In May 2023, at ANGA COM, CommScope introduced the latest models from its HomeVantage series, including fiber gateways and optical network units (ONUs). Models like the HomeVantage NVG578M2 and NVG578M1 provided service providers with cost-effective solutions to distribute high-speed internet throughout homes for supporting streaming, VoIP, and data services.
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The deployment of 5G networks significantly propels the fiber optic cable market growth. 5G technology demands high-speed, high-capacity fiber optic infrastructure to support its ultra-fast data transmission rates and low latency. Fiber optics are also essential for the backbone of 5G networks, connecting base stations and data centers to handle the increased data traffic generated by 5G applications.
The overall industry is classified into fiber type, deployment, cable type, end-user industry and region.
By end-user industry, the fiber optic cable market includes telecommunications, power utilities, defense/military, industrial, medical, and others. The industrial segment is expected to register a CAGR of 10% during the forecast period. This segment leverages fiber optic cables across various applications, including automation, control systems, and monitoring in manufacturing, oil & gas, mining, and utilities. In industrial settings, fiber optic cables are valued for their ability to transmit data over long distances without significant signal degradation and their resistance to electromagnetic interference. These attributes make them ideal for connecting sensors, control systems, and machinery, ensuring efficient data communication and real-time monitoring of industrial processes.
The market categorizes fiber types into single-mode and multi-mode fibers. The single-mode fiber segment is projected to lead with revenues surpassing 14 billion by 2032. Single-mode fibers, with their narrower core diameter of 8-10 micrometers, facilitate light travel in a single path. This design minimizes signal attenuation and dispersion, making them optimal for long-distance, high-fidelity, and high-speed data transmission.
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Asia Pacific emerged as the dominant player in the global fiber optic cable market, holding over 35% share in 2023. Rapid growth in the Asia-Pacific market is driven by significant investments in telecommunications infrastructure and a booming digital economy. Leading countries like China, India, and Australia are rolling out extensive fiber optic networks to support their growing internet user bases and expanding data centers. Additionally, the region's increasing urbanization and the rise of smart cities are further accelerating the demand for high-speed, high-capacity connectivity.
Fiber Optic Cable Market Players
Companies including Corning Incorporated, Sumitomo Electric Industries Ltd, Prysmian Group, Furukawa Electric, CommScope Holding Company Inc., Fujikura Ltd., Yangtze Optical Fiber and Cable, Joint Stock Ltd Co. are some firms working in fiber optic cable industry.
The fiber optic cable market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments:
Market, By Fiber Type
- Single-Mode Fiber
- Multi-Mode Fiber
Market, By Deployment
- Underground
- Underwater
- Aerial
Market, By Cable Type
- Ribbon Tube
- Loose Tube
- Tight Buffered
- Central Core
- Others
Market, By End-user Industry
- Telecommunication
- Power Utilities
- Defense/Military
- Industrial
- Medical
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
