Fiber Optical Cable Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

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The Fiber Optical Cable Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Fiber Optical Cable Global Market Report 2024, 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 8.0%. The growth in the historic period can be attributed to investments in telecom infrastructure, internet growth and expansion, digitalization of communication, backbone infrastructure development, globalization and 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%. The growth in the forecast period can be attributed to increasing data consumption, internet expansion in emerging markets, cloud computing and edge computing growth, smart cities and iot adoption, e-commerce and digital services. Major trends in the forecast period include 5g network expansion, internet of things (iot) growth, data center expansion, cloud computing demand, broadband internet access.

The rising demand for higher bandwidth and faster speed connections will enhance the growth of the fiber optic cable market. There is a surge in demand for high bandwidth from enterprises and individuals due to increased use of the internet for video calls, gaming, online shopping, and social media. Fiber optic cable use light to transmit data instead of electricity so that it can enhance and speed up the internet connections that are capable of handling higher bandwidth. For example, 4K Ultra High Definition (UHD) TV at homes consumes approximately 15-18 Mbps of data which is three times more than the plain HD TV. By 2022, it is estimated that about 62% of connected flat panel TV sets will be 4K. This focuses on increasing demand for higher bandwidth and increasing video consumption. Thus, the rising demand for faster speed connections and higher bandwidth is driving the fiber optic cable market growth.

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The fiber optical cable market covered in this report is segmented –

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

The technological advancement in fiber optic cable is a key trend driving the growth of the fiber optic cable market. Wavelength division multiplexing (WDM) is the recent technological improvement in fiber cables. Wavelength division multiplexing is a technique of multiplexing the number of optical carrier signals through a single optical fiber channel by varying the wavelengths of laser lights. WDM allows communication in all directions in fiber cable. WDMs are used on a single optical fiber to blend light signals coming from different optical fibers. This is attained by using a coupler at the WDM input. In 2023, Asia-pacific is expected to be the fastest-growing market for WDMs, and multiple companies in China such as ZG Technology, and Optic Network Technology, are the leading manufacturers and suppliers of WDMs.

The fiber optical cable market report table of contents includes: