According to comprehensive market research, the global Fiber Optic Cable Market is expected to grow at a CAGR of 13.50% from 2022 to 2030.
The adoption of the Internet of Things has increased the need for higher bandwidth and better connectivity. That is why most workplaces and commercial office buildings are switching over to fiber optic cables. The rising demand for fiber optic cables across various sectors will boost the Fiber Optic Cable Market Growth during the forecast period. However, stringent regulations and high capital investment may restrain the growth of this market.
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The increased demand for fiber optic cables in the media and entertainment sector will also boost market growth. Economic growth, increasing urbanization, are improved living standards will also create growth opportunities in the Fiber Optic Cable Market.
Fiber Optic Cable Market Report Scope:
|Revenue Forecast in 2030:||USD 30541.56 Million|
|Growth Rate:||CAGR of 13.50% from 2020 to 2030|
|Forecast Period:||2020 -2030|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
The global Fiber Optic Cable Market is segmented on deployment, fiber type, and end-user.
Based on deployment, the market is further divided into underwater, underground, and aerial.
Based on type, the Fiber Optic Cable Market is further divided into single-mode and multi-mode. During the forecast period, the single-mode segment is expected to grow steadily as single-mode cables are increasingly used in enterprise networks and data centers.
The global Fiber Optic Cable Market is further divided into automotive, healthcare, Banking and Financial Services, Information and Technology, defense and aerospace, industrial, government, and others. The healthcare sector is expected to grow steadily during the forecast period. Fiber optic cables are used for a remote patient monitoring system in the healthcare sector. The automotive sector is also expected to show significant growth during the forecast period.
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The global Fiber Optic Cable Market is divided into Asia-Pacific, Europe, North America, and the rest of the world.
The increase in telecommunication applications and the use of high-speed data transmission in North America will propel the growth of the Fiber Optic Cable Market in the coming years.
The Asia-Pacific region will grow steadily and will dominate a significant Fiber Optic Cable Market Share during the forecast period 2022—2030. The increasing use of fiber optic cable in countries such as India, Indonesia, China, and others will help boost the market in this region. Adoption of 5G technology in many countries, including India, will also boost the Fiber Optic Cable Market.
During the forecast period, Europe will also show substantial growth in this market due to the rising demand for fiber optic cables in IT and communication, defense, and aerospace.
Continuous investment in Research and Development and new product launches are two important strategies taken by the major Fiber Optic Cable Market Key Players. Some of the major companies in this market are Nexans S.A. (France), Hengtong (China), ZTT International Limited (India), Fiber Home (China), Belden (U.S.), Futong (Hong Kong), FUJIKURA LTD. (Japan), Sumitomo Electric, Ltd. (Japan), CommScope Inc. (U.S.), Prysmian Cables & Systems Limited (U.K.), SterliteTech (India), Corning Inc. (U.S.), and FOLAN (U.K.).
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January 2022: Cable One Incorporation announced the acquisition of Clearwave Communication, a fiber-optic service provider. Due to this acquisition, Cable One Inc. will be able to expand its business portfolio.
March 2020: Sumitomo Electric Industries Ltd. launched the industry’s first POLS(Pluggable Optical Line Subsystem)
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