Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Fiber Optical Cable Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global fiber optical cable market 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%. The growth observed in the historical period can be attributed to various factors, including investments in telecom infrastructure, the expansion of the internet, the digitalization of communication methods, the development of backbone infrastructure, and the trend towards globalization and increased interconnectedness.
The fiber optical cable market 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%. Forecasted growth is driven by increased data consumption, internet expansion in emerging markets, cloud and edge computing growth, smart cities' IoT adoption, and the surge in e-commerce and digital services. Major trends include 5G network expansion, IoT growth, data center expansion, rising demand for cloud computing, and increased focus on broadband internet access.
Asia-Pacific was the largest region in the fiber optic cable market in 2023. North America was the second-largest region in the global fiber optical cable market analysis. The regions covered in the fiber optical cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Highlights
- The growth of the fiber optic cable market is anticipated to be propelled by the increasing demand for higher bandwidth and faster speed connections.
- The fiber optic cable market is expected to experience growth driven by significant investments in the defense industry.
- The growth of the fiber optic cable market is expected to face limitations due to the increasing adoption of wireless communication systems.
- The growth of the fiber optic cable market is significantly influenced by technological advancements, with a key trend being the adoption of Wavelength Division Multiplexing (WDM).
- Major players in the fiber optic cable market are strategically focusing on innovation to drive revenue growth.
Markets Covered:
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
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Delivery Format: PDF, Word and Excel Data Dashboard
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $84.85 Billion |
| Forecasted Market Value (USD) by 2028 | $111.97 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9to2zf
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