Experts Predict Stunning Growth for Global Fiber Optic Cable Market, Reaching USD 19.26 Billion by 2029

Posted  by GoPhotonics

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Mordor Intelligence, a market intelligence & advisory firm, published a report on, "Fiber Optic Cable Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)". According to the report, the Fiber Optic Cable Market size is estimated at USD 12.83 billion in 2024, and is expected to reach USD 19.26 billion by 2029, growing at a CAGR of 8.46% during the forecast period (2024-2029).

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.

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, 

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

Click here to read the report titled, 'Fiber Optic Cable Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)'.